Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr R F Sams Mrs W J Sams 08 April 2024 The principal activity of the company during the financial year was letting of own property. 00290776 2023-12-31 00290776 2022-12-31 00290776 core:CurrentFinancialInstruments 2023-12-31 00290776 core:CurrentFinancialInstruments 2022-12-31 00290776 core:ShareCapital 2023-12-31 00290776 core:ShareCapital 2022-12-31 00290776 core:SharePremium 2023-12-31 00290776 core:SharePremium 2022-12-31 00290776 core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 00290776 core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 00290776 core:RetainedEarningsAccumulatedLosses 2023-12-31 00290776 core:RetainedEarningsAccumulatedLosses 2022-12-31 00290776 core:OtherPropertyPlantEquipment 2022-12-31 00290776 core:OtherPropertyPlantEquipment 2023-12-31 00290776 2023-01-01 2023-12-31 00290776 bus:FilletedAccounts 2023-01-01 2023-12-31 00290776 bus:SmallEntities 2023-01-01 2023-12-31 00290776 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00290776 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00290776 bus:Director1 2023-01-01 2023-12-31 00290776 bus:Director2 2023-01-01 2023-12-31 00290776 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 00290776 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 00290776 (England and Wales)

A E SAMS LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

A E SAMS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

A E SAMS LTD

BALANCE SHEET

As at 31 December 2023
A E SAMS LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 22 27
Investment property 4 200,000 200,000
200,022 200,027
Current assets
Debtors 5 0 103
Cash at bank and in hand 31,850 30,178
31,850 30,281
Creditors: amounts falling due within one year 6 ( 55,682) ( 56,358)
Net current liabilities (23,832) (26,077)
Total assets less current liabilities 176,190 173,950
Provision for liabilities ( 4) ( 5)
Net assets 176,186 173,945
Capital and reserves
Called-up share capital 5,547 5,547
Share premium account 211 211
Fair value reserve 174,658 174,658
Profit and loss account ( 4,230 ) ( 6,471 )
Total shareholders' funds 176,186 173,945

For the financial year ending 31 December 2023 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 A E Sams Ltd (registered number: 00290776) were approved and authorised for issue by the Board of Directors on 08 April 2024. They were signed on its behalf by:

Mr R F Sams
Director
A E SAMS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
A E SAMS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
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

A E Sams Ltd (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 Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 14,926 14,926
At 31 December 2023 14,926 14,926
Accumulated depreciation
At 01 January 2023 14,899 14,899
Charge for the financial year 5 5
At 31 December 2023 14,904 14,904
Net book value
At 31 December 2023 22 22
At 31 December 2022 27 27

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 200,000
As at 31 December 2023 200,000

Valuation

The investment property class of fixed asset was valued at 31 December 2023 by Mr R F Sams who is internal to the company. The basis of the valuation was open market value.
The class of asset has a current valuation of £200,000 (2022 £200,000) and a carrying amount oh historical cost of £25,342 (2022 £25,342). The depreciation on this historical cost is £nil (2022 £nil).
There has been no valuation of investment property by an independant valuer.

5. Debtors

2023 2022
£ £
Other debtors 0 103

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 345 0
Other creditors 55,337 56,358
55,682 56,358

7. Related party transactions

Transactions with the entity's directors

During the year the directors maintained an interest free loan with the company which is repayable on demand.
At the balance sheet date the amount owing to the directors was £53,526 (2022 £54,713).