REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
Silverlining Commercial Properties |
Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
Silverlining Commercial Properties |
Limited |
Silverlining Commercial Properties |
Limited (Registered number: 09093008) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Silverlining Commercial Properties |
Limited |
Company Information |
for the Year Ended 31 July 2023 |
Directors: |
Registered office: |
Registered number: |
Senior statutory auditor: |
Auditors: |
Chartered Accountants |
and Statutory Auditors |
114-120 Northgate Street |
Chester |
CH1 2HT |
Silverlining Commercial Properties |
Limited (Registered number: 09093008) |
Statement of Financial Position |
31 July 2023 |
31/7/23 | 31/7/22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Other reserves |
Retained earnings |
Silverlining Commercial Properties |
Limited (Registered number: 09093008) |
Statement of Financial Position - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Silverlining Commercial Properties |
Limited (Registered number: 09093008) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | Statutory information |
Silverlining Commercial Properties Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from property rental is recognised on an accruals basis. |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
Silverlining Commercial Properties |
Limited (Registered number: 09093008) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | Investment property |
Total |
£ |
Fair value |
At 1 August 2022 |
Revaluations | 180,000 |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2023 | 2,280,000 |
The directors consider that the value of the commercial property at 31 July 2023 was £2.28m. The investment property was valued on an open market value basis with vacant possession by Legat Owen of Chester on 4 October 2023 for this amount.. |
5. | Debtors: amounts falling due within one year |
31/7/23 | 31/7/22 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
31/7/23 | 31/7/22 |
£ | £ |
Bank loans |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
31/7/23 | 31/7/22 |
£ | £ |
Bank loans |
Silverlining Commercial Properties |
Limited (Registered number: 09093008) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | Secured debts |
The following secured debts are included within creditors: |
31/7/23 | 31/7/22 |
£ | £ |
Bank loans |
The bank loan is secured by way of charge over the freehold property. |
9. | Provisions for liabilities |
31/7/23 | 31/7/22 |
£ | £ |
Deferred tax |
Other timing differences | 151,476 | 106,476 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Provided during year |
Balance at 31 July 2023 |
10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The financial statements of the company for the year ended 31 July 2023 were audited by Ellis & Co (Accountants and Business Advisers) Limited, and the audit report was signed by Robert Ellis FCA, senior statutory auditor. The audit report was unqualified. |
11. | Related party disclosures |
Silverlining Furniture Group Limited, a company incorporated in the United Kingdom, is the parent company of the smallest group for which accounts are prepared and of which Silverlining Commercial Properties Limited is a member. The registered office of Silverlining Furniture Group Limited is 114-120 Northgate Street, Chester, CH1 2HT. |