Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truefalse2falseNo description of principal activity2022-04-012The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13245657 2022-04-01 2023-03-31 13245657 2021-03-04 2022-03-31 13245657 2023-03-31 13245657 2022-03-31 13245657 c:Director1 2022-04-01 2023-03-31 13245657 d:CurrentFinancialInstruments 2023-03-31 13245657 d:CurrentFinancialInstruments 2022-03-31 13245657 d:Non-currentFinancialInstruments 2023-03-31 13245657 d:Non-currentFinancialInstruments 2022-03-31 13245657 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13245657 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13245657 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13245657 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 13245657 d:ShareCapital 2023-03-31 13245657 d:ShareCapital 2022-03-31 13245657 d:RetainedEarningsAccumulatedLosses 2023-03-31 13245657 d:RetainedEarningsAccumulatedLosses 2022-03-31 13245657 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 13245657 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 13245657 d:OtherDeferredTax 2023-03-31 13245657 d:OtherDeferredTax 2022-03-31 13245657 c:FRS102 2022-04-01 2023-03-31 13245657 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13245657 c:FullAccounts 2022-04-01 2023-03-31 13245657 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13245657 2 2022-04-01 2023-03-31 13245657 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

13245657







SILVERLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MARCH 2023































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SILVERLEY LIMITED
REGISTERED NUMBER:13245657

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
8,841,592
11,940,785

  
8,841,592
11,940,785

Current assets
  

Cash at bank and in hand
 5 
24,114
18,155

  
24,114
18,155

Creditors: amounts falling due within one year
 6 
(7,487,485)
(11,115,524)

Net current liabilities
  
 
 
(7,463,371)
 
 
(11,097,369)

Total assets less current liabilities
  
1,378,221
843,416

Creditors: amounts falling due after more than one year
  
(5,004,398)
-

Provisions for liabilities
  

Deferred tax
 8 
-
(210,729)

  
 
 
-
 
 
(210,729)

Net (liabilities)/assets
  
(3,626,177)
632,687


Capital and reserves
  

Called up share capital 
  
500
500

Profit and loss account
  
(3,626,677)
632,187

  
(3,626,177)
632,687


Page 1

SILVERLEY LIMITED
REGISTERED NUMBER:13245657
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




B.N.A Alteirac
Director

Date: 30 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

SILVERLEY LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Silverley Limited ("the Company") is a private company, limited by shares, domiciled and incorporated in England and Wales.
The address of the Company's registered office and principal place of business is Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Monetary amounts in these financial statements are stated in sterling and rounded to the nearest whole £1. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are being prepared on the going concern basis.  The directors have agreed not to repay their loan until the company has sufficient reserves to do so.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

SILVERLEY LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 4

SILVERLEY LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

 Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Listed investments
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 April 2022
11,940,785
-
11,940,785


Additions
776,217
586,270
1,362,487


Disposals
(131,868)
-
(131,868)


Revaluations
(4,329,812)
-
(4,329,812)



At 31 March 2023
8,255,322
586,270
8,841,592





5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
24,114
18,155



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
7,482,265
11,110,724

Accruals and deferred income
5,220
4,800

7,487,485
11,115,524


Page 5

SILVERLEY LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
5,004,398
-



8.


Deferred taxation




2023


£






At beginning of year
(210,729)


Charged to profit or loss
210,729



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Tax losses carried forward
-
1,576

Unrealised gains/ losses
-
(212,305)

-
(210,729)


9.


Related party transactions

At the year-end, the company owed the directors £12,486,663 (2022: £11,110,724).
Included within this figure is a loan of £5,004,398 held as bare trustee by the directors on behalf of their children, which is interest bearing at a rate of 2% above base rate per annum with a maturity date of 31 December 2042. This balance is included within other creditors due in more than 5 years. 
The balance of the loan is interest-free, unsecured and repayable on demand. The balance is included within other creditors falling due within one year.

 
Page 6