Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr A J A Donald 01/07/2021 Mr B J Marshall 01/07/2021 04 April 2024 The principal activity of the Company during the financial year was one of a letting agent.

On 31 January 2024, the company’s trade was transferred to its controlling party Woolley & Wallis LLP. The directors intend to have the company dissolved within the following twelve months.
04169949 2024-03-31 04169949 bus:Director1 2024-03-31 04169949 bus:Director2 2024-03-31 04169949 2023-03-31 04169949 core:CurrentFinancialInstruments 2024-03-31 04169949 core:CurrentFinancialInstruments 2023-03-31 04169949 core:ShareCapital 2024-03-31 04169949 core:ShareCapital 2023-03-31 04169949 core:RetainedEarningsAccumulatedLosses 2024-03-31 04169949 core:RetainedEarningsAccumulatedLosses 2023-03-31 04169949 core:Goodwill 2023-03-31 04169949 core:Goodwill 2024-03-31 04169949 core:OtherPropertyPlantEquipment 2023-03-31 04169949 core:OtherPropertyPlantEquipment 2024-03-31 04169949 bus:OrdinaryShareClass1 2024-03-31 04169949 bus:OrdinaryShareClass2 2024-03-31 04169949 2023-04-01 2024-03-31 04169949 bus:FilletedAccounts 2023-04-01 2024-03-31 04169949 bus:SmallEntities 2023-04-01 2024-03-31 04169949 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04169949 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04169949 bus:Director1 2023-04-01 2024-03-31 04169949 bus:Director2 2023-04-01 2024-03-31 04169949 core:Goodwill core:BottomRangeValue 2023-04-01 2024-03-31 04169949 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 04169949 core:Goodwill 2023-04-01 2024-03-31 04169949 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 04169949 2022-04-01 2023-03-31 04169949 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04169949 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04169949 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 04169949 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04169949 (England and Wales)

GILYARD SCARTH LETTINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

GILYARD SCARTH LETTINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

GILYARD SCARTH LETTINGS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
GILYARD SCARTH LETTINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr A J A Donald
Mr B J Marshall
REGISTERED OFFICE The Old Coffee Tavern
Salisbury Street
Mere
BA12 6HA
United Kingdom
COMPANY NUMBER 04169949 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
GILYARD SCARTH LETTINGS LIMITED

BALANCE SHEET

As at 31 March 2024
GILYARD SCARTH LETTINGS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 0 5,296
0 5,296
Current assets
Stocks 0 173
Debtors 5 0 20,781
Cash at bank and in hand 4 22,836
4 43,790
Creditors: amounts falling due within one year 6 0 ( 11,146)
Net current assets 4 32,644
Total assets less current liabilities 4 37,940
Net assets 4 37,940
Capital and reserves
Called-up share capital 7 4 4
Profit and loss account 0 37,936
Total shareholder's funds 4 37,940

For the financial year ending 31 March 2024 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 Gilyard Scarth Lettings Limited (registered number: 04169949) were approved and authorised for issue by the Board of Directors on 04 April 2024. They were signed on its behalf by:

Mr B J Marshall
Director
GILYARD SCARTH LETTINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
GILYARD SCARTH LETTINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

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

General information and basis of accounting

Gilyard Scarth Lettings 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 The Old Coffee Tavern, Salisbury Street, Mere, BA12 6HA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

On 31 January 2024, the company ceased trading and its letting agency business was transferred to its parent entity Woolley & Wallis LLP. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation.

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.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 2 - 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life. During the year ended 31 March 2023 the directors reconsidered the economic life of purchased goodwill and concluded that the net book value at 31 March 2021 would be amortised to 31 March 2023. The amortisation charge for the year ended 31 March 2024 is £Nil (2023 - £5,169).

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, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance

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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 20,678 20,678
Disposals ( 20,678) ( 20,678)
At 31 March 2024 0 0
Accumulated amortisation
At 01 April 2023 20,678 20,678
Disposals ( 20,678) ( 20,678)
At 31 March 2024 0 0
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 10,393 10,393
Disposals ( 10,393) ( 10,393)
At 31 March 2024 0 0
Accumulated depreciation
At 01 April 2023 5,097 5,097
Charge for the financial year 1,097 1,097
Disposals ( 6,194) ( 6,194)
At 31 March 2024 0 0
Net book value
At 31 March 2024 0 0
At 31 March 2023 5,296 5,296

5. Debtors

2024 2023
£ £
Trade debtors 0 1,553
Corporation tax 0 1,358
Other debtors 0 17,870
0 20,781

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 1,956
Other taxation and social security 0 6,311
Other creditors 0 2,879
0 11,146

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2
2 Ordinary A shares of £ 1.00 each 2 2
4 4