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REGISTERED NUMBER: 04159435 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SILVERPATH LTD

SILVERPATH LTD (REGISTERED NUMBER: 04159435)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SILVERPATH LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: M Grunhut





REGISTERED OFFICE: 20 Jessam Avenue
London
E5 9DU





REGISTERED NUMBER: 04159435 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

SILVERPATH LTD (REGISTERED NUMBER: 04159435)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 201 237
Investment property 5 539,000 539,000
539,201 539,237

CURRENT ASSETS
Debtors 6 364,545 413,545
Cash at bank 8,497 132
373,042 413,677
CREDITORS
Amounts falling due within one year 7 (27,715 ) 1,284
NET CURRENT ASSETS 345,327 414,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,528

954,198

CREDITORS
Amounts falling due after more than one
year

8

(518,326

)

(575,416

)
NET ASSETS 366,202 378,782

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 375,198 375,198
Retained earnings 11 (9,096 ) 3,484
SHAREHOLDERS' FUNDS 366,202 378,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SILVERPATH LTD (REGISTERED NUMBER: 04159435)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





M Grunhut - Director


SILVERPATH LTD (REGISTERED NUMBER: 04159435)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Silverpath Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

In accordance with Financial Reporting standard for Smaller Entities (effective April 2008), no depreciation or amortisation is provided in respect of freehold investment properties nor on leasehold investment properties having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act 2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy results in the financial statements giving true and fair view.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022
and 28 February 2023 3,070
DEPRECIATION
At 1 March 2022 2,833
Charge for year 36
At 28 February 2023 2,869
NET BOOK VALUE
At 28 February 2023 201
At 28 February 2022 237

SILVERPATH LTD (REGISTERED NUMBER: 04159435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 539,000
NET BOOK VALUE
At 28 February 2023 539,000
At 28 February 2022 539,000

The directors have confirmed that there is no significant increase or decrease in the property market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 364,545 413,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other creditors 26,935 (504 )
Accrued expenses 780 (780 )
27,715 (1,284 )

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 2-5 years - 47,500
Bank loan - 527,916
Bank loans more 5 yrs non-inst 518,326 -
518,326 575,416

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 518,326 -

Repayable by instalments
Bank loan - 527,916

SILVERPATH LTD (REGISTERED NUMBER: 04159435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 518,326 575,416

1. The bank loan is secured by a first charge over the company's investment properties and bear interest at variable rates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2022 3,484 375,198 378,682
Deficit for the year (12,580 ) (12,580 )
At 28 February 2023 (9,096 ) 375,198 366,102

12. ULTIMATE CONTROLLING PARTY

The controlling party is N Herzka.