Silverfin false false 31/12/2023 01/01/2023 31/12/2023 A Haimes 27/09/2000 E Haimes 27/09/2000 01 May 2024 The principal activity of the Company during the financial year was that of property investment. 04079002 2023-12-31 04079002 bus:Director1 2023-12-31 04079002 bus:Director2 2023-12-31 04079002 2022-12-31 04079002 core:CurrentFinancialInstruments 2023-12-31 04079002 core:CurrentFinancialInstruments 2022-12-31 04079002 core:ShareCapital 2023-12-31 04079002 core:ShareCapital 2022-12-31 04079002 core:RevaluationReserve 2023-12-31 04079002 core:RevaluationReserve 2022-12-31 04079002 core:RetainedEarningsAccumulatedLosses 2023-12-31 04079002 core:RetainedEarningsAccumulatedLosses 2022-12-31 04079002 core:ListedExchangeTraded core:WithinOneYear 2023-12-31 04079002 core:ListedExchangeTraded core:WithinOneYear 2022-12-31 04079002 2023-01-01 2023-12-31 04079002 bus:FilletedAccounts 2023-01-01 2023-12-31 04079002 bus:SmallEntities 2023-01-01 2023-12-31 04079002 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04079002 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04079002 bus:Director1 2023-01-01 2023-12-31 04079002 bus:Director2 2023-01-01 2023-12-31 04079002 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 04079002 (England and Wales)

A.E. SECURITIES LIMITED

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

A.E. SECURITIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

A.E. SECURITIES LIMITED

BALANCE SHEET

As at 31 December 2023
A.E. SECURITIES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 4,750,000 4,990,000
4,750,000 4,990,000
Current assets
Debtors 4 19,979 26,886
Investments 5 4,685,821 222,425
Cash at bank and in hand 369,996 4,256,747
5,075,796 4,506,058
Creditors: amounts falling due within one year 6 ( 130,878) ( 97,062)
Net current assets 4,944,918 4,408,996
Total assets less current liabilities 9,694,918 9,398,996
Provision for liabilities ( 16,779) ( 38,541)
Net assets 9,678,139 9,360,455
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 476,152 445,139
Profit and loss account 9,201,887 8,915,216
Total shareholders' funds 9,678,139 9,360,455

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. Securities Limited (registered number: 04079002) were approved and authorised for issue by the Director on 01 May 2024. They were signed on its behalf by:

A Haimes
Director
A.E. SECURITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
A.E. SECURITIES LIMITED

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. Securities 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 Office 5 Riverside Place, Taunton, TA1 1JH, 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 represents rents receivable net of VAT (where applicable) and are recognised in the period to which they relate.

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.

Judgements

The directors assess the market value of investment properties at each period end. This exercise is carried out by using data available in the commercial property sector and their considerable experience in this area to provide the best estimate of the market value at the period end.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Current asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 January 2023 4,990,000
Fair value movement (240,000)
As at 31 December 2023 4,750,000

Valuation

The investment properties class of fixed assets was adjusted on 31 December 2023 to fair value by the directors who are internal to the company. The basis of this valuation was open market value.

This class of assets has a current value of £4,750,000 (2022 - £4,990,000) and a carrying amount at historical cost of £4,936,218 (2022 - £4,936,218)

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

4. Debtors

2023 2022
£ £
Trade debtors 19,540 26,697
Other debtors 439 189
19,979 26,886

5. Current asset investments

2023 2022
£ £
Listed investments – at fair value 4,987,235 222,425

The fair value of listed investments, which are all traded in active markets, was determined with reference to the quoted market price at the reporting date.

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 42,832 11,629
Other creditors 88,046 85,433
130,878 97,062