Company registration number 11053775 (England and Wales)
152 SILBURY BOULEVARD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
152 SILBURY BOULEVARD LTD
COMPANY INFORMATION
Director
Mr M Stephen
Company number
11053775
Registered office
59-60 Grosvenor Street
London
England
WIK 3HZ
Accountants
Vision Consulting Accountants Limited
555-557 Cranbrook Road
Gants Hill
Ilford
United Kingdom
IG2 6HE
152 SILBURY BOULEVARD LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
152 SILBURY BOULEVARD LTD
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Stocks
1,787,265
6,098,532
Debtors
3
384,539
191,539
Cash at bank and in hand
619
41,005
2,172,423
6,331,076
Creditors: amounts falling due within one year
Other creditors
4
4,172,554
547,796
Net current (liabilities)/assets
(2,000,131)
5,783,280
Creditors: amounts falling due after more than one year
Loans and overdrafts
45,828
4,224,405
Other creditors
5
108,777
3,820,035
(154,605)
(8,044,440)
Net liabilities
(2,154,736)
(2,261,160)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(2,155,736)
(2,262,160)
Total equity
(2,154,736)
(2,261,160)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
152 SILBURY BOULEVARD LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 November 2023 and are signed on its behalf by:
Mr M Stephen
Director
Company registration number 11053775 (England and Wales)
152 SILBURY BOULEVARD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
152 Silbury Boulevard Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 59-60 Grosvenor Street, London, England, WIK 3HZ.
1.1
Reporting period
This set of accounts covers period from 1 January 2022 to 31 December 2022.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Revenue is recognised once the risks and rewards of ownership have transferred to the end customer by reference to the sale agreements and deposits held.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
152 SILBURY BOULEVARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
152 SILBURY BOULEVARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
274,802
11,247
Prepayments
21,219
274,802
32,466
2022
2021
Amounts falling due after more than one year:
£
£
Other debtors
109,737
159,073
Total debtors
384,539
191,539
4
Other creditors falling due within one year
2022
2021
£
£
Trade creditors
228,385
216,299
Other creditors
3,942,777
307,225
Accruals
1,392
24,272
4,172,554
547,796
5
Other creditors falling due after one year
2022
2021
£
£
Other creditors
108,777
3,820,035
All loans are attributable to construction of the asset and are repayable on completion of the construction project. All loans are interest bearing. Total accrued interest for the period for both loans was capitalised.
152 SILBURY BOULEVARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
6
Related party transactions
The following amounts were outstanding at the reporting end date:
Reditum Capital Ltd
The balance due to Reditum Capital Ltd, a company incorporated in England & Wales, at the balance sheet date was £16,505 (2021: 14,797). Mr M Stephen is also the director of Reditum Capital Ltd.
Reditum Capital Management Ltd
The balance due to Reditum Capital Management Ltd, a company incorporated in England & Wales, at the balance sheet date was £30,000 (2021: 36,530). Mr M Stephen is also the director of Reditum Capital Management Ltd.
Reditum SPV 34 Ltd
The balance due to Reditum SPV 34 Ltd, a company incorporated in England & Wales, at the balance sheet date was £3,466,394 (2021: 4,102,779). Mr M Stephen is also the director of Reditum SPV 34 Ltd.