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Registration number: 13264150

Silwood Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Silwood Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Silwood Investments Limited

Company Information

Director

Mr O B Balogun

Registered office

The Mill Pury Hill
Business Park
Alderton Road
Towcester
Northants
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Silwood Investments Limited

(Registration number: 13264150)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

693,774

370,626

Investments

5

200

200

 

693,974

370,826

Current assets

 

Debtors

7

1,846

1,846

Other financial assets

6

14,950

-

Cash at bank and in hand

 

82

2,705

 

16,878

4,551

Creditors: Amounts falling due within one year

8

(208,838)

(112,988)

Net current liabilities

 

(191,960)

(108,437)

Total assets less current liabilities

 

502,014

262,389

Creditors: Amounts falling due after more than one year

8

(496,365)

(264,495)

Net assets/(liabilities)

 

5,649

(2,106)

Capital and reserves

 

Called up share capital

200

200

Retained earnings

5,449

(2,306)

Shareholders' funds/(deficit)

 

5,649

(2,106)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 December 2023
 

.........................................
Mr O B Balogun
Director

 

Silwood Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Mill Pury Hill
Business Park
Alderton Road
Towcester
Northants
NN12 7LS
United Kingdom

These financial statements were authorised for issue by the director on 21 December 2023.

The company registration number is 13264150

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis as the Director has agreed to support the company for a period of 12 months after the date of signing.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Silwood Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Silwood Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Silwood Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Investment properties

2023
£

At 1 April

370,626

Additions

323,148

At 31 March

693,774

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

5

Investments

2023
£

2022
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost or valuation

At 1 April 2022

200

Provision

Carrying amount

At 31 March 2023

200

At 31 March 2022

200

 

Silwood Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Other financial assets (current and non-current)

Financial assets at fair value
£

Total
£

Current financial assets

Cost or valuation

CA investment - listed other shares additions

14,950

14,950

At 31 March 2023

14,950

14,950

Impairment

Carrying amount

At 31 March 2023

14,950

14,950

7

Debtors

Current

2023
£

2022
£

Other debtors

1,846

1,846

 

1,846

1,846

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

203,480

109,029

Taxation and social security

 

1,285

-

Accruals and deferred income

 

342

228

Other creditors

 

3,731

3,731

 

208,838

112,988

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

496,365

264,495

 

Silwood Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

200

200

200

200

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

496,365

264,495

11

Related party transactions

Summary of transactions with subsidiaries

At the balance sheet date the company was owed £203,480 by its subsidiary Silwood Consultancy Limited. This loan is interest free and there are no repayment terms.