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REGISTERED NUMBER: 02547378 (England and Wales)















SILVERWOOD PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






SILVERWOOD PROPERTIES LIMITED (REGISTERED NUMBER: 02547378)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SILVERWOOD PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr C M Christofi
Ms M Christofi





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 02547378 (England and Wales)





ACCOUNTANTS: Kounnis And Partners Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

SILVERWOOD PROPERTIES LIMITED (REGISTERED NUMBER: 02547378)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,475 3,962
Investment property 5 2,350,530 2,350,530
2,353,005 2,354,492

CURRENT ASSETS
Debtors 6 65,507 75,303
Cash at bank and in hand 242,956 219,213
308,463 294,516
CREDITORS
Amounts falling due within one year 7 (1,098,055 ) (1,530,373 )
NET CURRENT LIABILITIES (789,592 ) (1,235,857 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,563,413

1,118,635

CREDITORS
Amounts falling due after more than one
year

8

(345,389

)

-
NET ASSETS 1,218,024 1,118,635

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,208,024 1,108,635
SHAREHOLDERS' FUNDS 1,218,024 1,118,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SILVERWOOD PROPERTIES LIMITED (REGISTERED NUMBER: 02547378)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 1 August 2024 and were signed on its behalf by:





Mr C M Christofi - Director


SILVERWOOD PROPERTIES LIMITED (REGISTERED NUMBER: 02547378)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Silverwood 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.

Turnover
Turnover represent gross rent receivable for the year. Turnover is recognise when rent become due under the lease agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost and 15% on cost

Investment property
The company's investment properties are held for long term investment and are included in the balance sheet at their fair values. No depreciation is provided in respect of freehold and long leasehold investment properties.

The policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systemical annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown, cannot be separately identified or quantified.

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.

SILVERWOOD PROPERTIES LIMITED (REGISTERED NUMBER: 02547378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 23,873 10,072 33,945
DEPRECIATION
At 1 April 2023 19,911 10,072 29,983
Charge for year 1,487 - 1,487
At 31 March 2024 21,398 10,072 31,470
NET BOOK VALUE
At 31 March 2024 2,475 - 2,475
At 31 March 2023 3,962 - 3,962

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 10,072
DEPRECIATION
At 1 April 2023
and 31 March 2024 10,072
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

SILVERWOOD PROPERTIES LIMITED (REGISTERED NUMBER: 02547378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,350,530
NET BOOK VALUE
At 31 March 2024 2,350,530
At 31 March 2023 2,350,530

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 47,821 59,005
Other debtors 17,686 16,298
65,507 75,303

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 74,000 488,692
Trade creditors 34,409 49,128
Taxation and social security 31,088 22,465
Other creditors 958,558 970,088
1,098,055 1,530,373

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 345,389 -

Bank loans are secured by a fixed charge over the company's property assets.

9. ULTIMATE CONTROLLING PARTY

There was no overall control of the company by any member as at the year end.