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REGISTERED NUMBER: 09093008 (England and Wales)















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: J M Boddington
T J Boddington



Registered office: 114-120 Northgate Street
Chester
CH1 2HT



Registered number: 09093008 (England and Wales)



Senior statutory auditor: Robert Ellis FCA



Auditors: Ellis & Co (Accountants & Business Advisers) Ltd
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 2,280,000 2,100,000

Current assets
Debtors 5 23,000 34,611
Cash at bank 16,987 47,998
39,987 82,609
Creditors
Amounts falling due within one year 6 1,116,812 1,120,420
Net current liabilities (1,076,825 ) (1,037,811 )
Total assets less current liabilities 1,203,175 1,062,189

Creditors
Amounts falling due after more than
one year

7

(245,172

)

(328,260

)

Provisions for liabilities 9 (151,476 ) (106,476 )
Net assets 806,527 627,453

Capital and reserves
Called up share capital 1 1
Other reserves 658,033 523,033
Retained earnings 148,493 104,419
806,527 627,453

Silverlining Commercial Properties
Limited (Registered number: 09093008)

Statement of Financial Position - continued
31 July 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 Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:





J M Boddington - Director


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 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.

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 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 2,100,000
Revaluations 180,000
At 31 July 2023 2,280,000
Net book value
At 31 July 2023 2,280,000
At 31 July 2022 2,100,000

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 23,000 15,259
Other debtors - 19,352
23,000 34,611

6. Creditors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Bank loans 90,000 90,000
Trade creditors 974 612
Amounts owed to group undertakings 1,001,069 997,469
Taxation and social security 19,273 10,272
Other creditors 5,496 22,067
1,116,812 1,120,420

7. Creditors: amounts falling due after more than one year
31/7/23 31/7/22
£    £   
Bank loans 245,172 328,260

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 335,172 418,260

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 106,476
Provided during year 45,000
Balance at 31 July 2023 151,476

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.