Silverfin false 31/03/2023 01/06/2022 31/03/2023 Mr M Goldsmith 31/01/1991 Mrs M Goldsmith 12/10/2012 Mr D Lobb 31/01/1991 Mr P Walter 31/01/1991 20 October 2023 The principal activity of the Company during the financial year was that of property investment and letting. 01417259 2023-03-31 01417259 bus:Director1 2023-03-31 01417259 bus:Director2 2023-03-31 01417259 bus:Director3 2023-03-31 01417259 bus:Director4 2023-03-31 01417259 2022-05-31 01417259 core:CurrentFinancialInstruments 2023-03-31 01417259 core:CurrentFinancialInstruments 2022-05-31 01417259 core:ShareCapital 2023-03-31 01417259 core:ShareCapital 2022-05-31 01417259 core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 01417259 core:FurtherSpecificReserve1ComponentTotalEquity 2022-05-31 01417259 core:RetainedEarningsAccumulatedLosses 2023-03-31 01417259 core:RetainedEarningsAccumulatedLosses 2022-05-31 01417259 core:OtherPropertyPlantEquipment 2022-05-31 01417259 core:OtherPropertyPlantEquipment 2023-03-31 01417259 bus:OrdinaryShareClass1 2023-03-31 01417259 bus:OrdinaryShareClass2 2023-03-31 01417259 bus:OrdinaryShareClass3 2023-03-31 01417259 bus:OrdinaryShareClass4 2023-03-31 01417259 2022-06-01 2023-03-31 01417259 bus:FullAccounts 2022-06-01 2023-03-31 01417259 bus:SmallEntities 2022-06-01 2023-03-31 01417259 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-03-31 01417259 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-03-31 01417259 bus:Director1 2022-06-01 2023-03-31 01417259 bus:Director2 2022-06-01 2023-03-31 01417259 bus:Director3 2022-06-01 2023-03-31 01417259 bus:Director4 2022-06-01 2023-03-31 01417259 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-06-01 2023-03-31 01417259 2021-06-01 2022-05-31 01417259 core:OtherPropertyPlantEquipment 2022-06-01 2023-03-31 01417259 bus:OrdinaryShareClass1 2022-06-01 2023-03-31 01417259 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 01417259 bus:OrdinaryShareClass2 2022-06-01 2023-03-31 01417259 bus:OrdinaryShareClass2 2021-06-01 2022-05-31 01417259 bus:OrdinaryShareClass3 2022-06-01 2023-03-31 01417259 bus:OrdinaryShareClass3 2021-06-01 2022-05-31 01417259 bus:OrdinaryShareClass4 2022-06-01 2023-03-31 01417259 bus:OrdinaryShareClass4 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01417259 (England and Wales)

OBENSHAW LIMITED

Unaudited Financial Statements
For the financial period from 01 June 2022 to 31 March 2023
Pages for filing with the registrar

OBENSHAW LIMITED

Unaudited Financial Statements

For the financial period from 01 June 2022 to 31 March 2023

Contents

OBENSHAW LIMITED

BALANCE SHEET

As at 31 March 2023
OBENSHAW LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 31.03.2023 31.05.2022
£ £
Fixed assets
Tangible assets 3 5,305 1,746
Investment property 4 1,830,000 4,339,000
1,835,305 4,340,746
Current assets
Debtors 5 72,967 6,667
Cash at bank and in hand 2,350,315 268,785
2,423,282 275,452
Creditors: amounts falling due within one year 6 ( 337,569) ( 34,319)
Net current assets 2,085,713 241,133
Total assets less current liabilities 3,921,018 4,581,879
Provision for liabilities ( 48,225) ( 456,276)
Net assets 3,872,793 4,125,603
Capital and reserves
Called-up share capital 7 48 48
Fair value reserve 251,775 1,654,385
Profit and loss account 3,620,970 2,471,170
Total shareholders' funds 3,872,793 4,125,603

For the financial period ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Obenshaw Limited (registered number: 01417259) were approved and authorised for issue by the Board of Directors on 20 October 2023. They were signed on its behalf by:

Mr D Lobb
Director
OBENSHAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 June 2022 to 31 March 2023
OBENSHAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 June 2022 to 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Obenshaw Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is 6 Rutger Place, Plymouth, Devon, PL1 5LN.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

During the year the company shortened its accounting period from 31 May to 31 March for commercial reasons. Comparative amounts stated in the financial statements are therefore not fully comparable.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
01.06.2022 to
31.03.2023
Year ended
31.05.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2022 2,701 2,701
Additions 5,004 5,004
At 31 March 2023 7,705 7,705
Accumulated depreciation
At 01 June 2022 955 955
Charge for the financial period 1,445 1,445
At 31 March 2023 2,400 2,400
Net book value
At 31 March 2023 5,305 5,305
At 31 May 2022 1,746 1,746

4. Investment property

Investment property
£
Valuation
As at 01 June 2022 4,339,000
Additions 49,963
Fair value movement (175,000)
Disposals (2,383,963)
As at 31 March 2023 1,830,000

Valuation

There has been no valuation of investment property by an independent valuer.

5. Debtors

31.03.2023 31.05.2022
£ £
Other debtors 72,967 6,667

6. Creditors: amounts falling due within one year

31.03.2023 31.05.2022
£ £
Trade creditors 931 500
Corporation tax 305,394 0
Other taxation and social security 2,658 4,063
Other creditors 28,586 29,756
337,569 34,319

7. Called-up share capital

31.03.2023 31.05.2022
£ £
Allotted, called-up and fully-paid
8 Ordinary A shares of £ 1.00 each 8 8
16 Ordinary B shares of £ 1.00 each 16 16
16 Ordinary C shares of £ 1.00 each 16 16
8 Ordinary D shares of £ 1.00 each 8 8
48 48