Silverfin false false 31/12/2023 01/01/2023 31/12/2023 W J Killick 17/12/2019 G R Llewellyn-Smith 17/12/2019 S M O'Neill 17/12/2019 C M Stephens 17/12/2019 13 August 2024 The principal activity of the company is that of property development. 12367693 2023-12-31 12367693 bus:Director1 2023-12-31 12367693 bus:Director2 2023-12-31 12367693 bus:Director3 2023-12-31 12367693 bus:Director4 2023-12-31 12367693 2022-12-31 12367693 core:CurrentFinancialInstruments 2023-12-31 12367693 core:CurrentFinancialInstruments 2022-12-31 12367693 core:Non-currentFinancialInstruments 2023-12-31 12367693 core:Non-currentFinancialInstruments 2022-12-31 12367693 core:ShareCapital 2023-12-31 12367693 core:ShareCapital 2022-12-31 12367693 core:RetainedEarningsAccumulatedLosses 2023-12-31 12367693 core:RetainedEarningsAccumulatedLosses 2022-12-31 12367693 bus:OrdinaryShareClass1 2023-12-31 12367693 2023-01-01 2023-12-31 12367693 bus:FilletedAccounts 2023-01-01 2023-12-31 12367693 bus:SmallEntities 2023-01-01 2023-12-31 12367693 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12367693 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12367693 bus:Director1 2023-01-01 2023-12-31 12367693 bus:Director2 2023-01-01 2023-12-31 12367693 bus:Director3 2023-01-01 2023-12-31 12367693 bus:Director4 2023-01-01 2023-12-31 12367693 2022-01-01 2022-12-31 12367693 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12367693 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12367693 (England and Wales)

SOCIAL HOUSING PLUS MOORFIELD ROAD LIMITED

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

SOCIAL HOUSING PLUS MOORFIELD ROAD LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SOCIAL HOUSING PLUS MOORFIELD ROAD LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
SOCIAL HOUSING PLUS MOORFIELD ROAD LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Current assets
Stocks 3 10,064,939 8,678,131
Debtors 4 24,178 22,344
Cash at bank and in hand 125,467 124,402
10,214,584 8,824,877
Creditors: amounts falling due within one year 5 ( 2,888,016) ( 2,623,878)
Net current assets 7,326,568 6,200,999
Total assets less current liabilities 7,326,568 6,200,999
Creditors: amounts falling due after more than one year 6 ( 7,364,126) ( 6,230,040)
Net liabilities ( 37,558) ( 29,041)
Capital and reserves
Called-up share capital 7 10 10
Profit and loss account ( 37,568 ) ( 29,051 )
Total shareholder's deficit ( 37,558) ( 29,041)

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 Social Housing Plus Moorfield Road Limited (registered number: 12367693) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

C M Stephens
Director

13 August 2024

SOCIAL HOUSING PLUS MOORFIELD ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SOCIAL HOUSING PLUS MOORFIELD ROAD 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

Social Housing Plus Moorfield Road 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 71-75 Shelton Street, London, WC2H 9JQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £1.

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.

The Company made a loss of £8,517 during the year and had net liabilities of £37,558. The Company relies upon borrowings of £10,106,895 due to its parent and other related party entities. The Company is reliant on the ongoing support from its parent entity, which the directors have confirmed.

As a result, the directors are confident that the Company's access to working capital will be sufficient to support the business in the foreseeable future, and accordingly, consider it appropriate to prepare the financial statements on a going concern basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from other third parties, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 4 4

3. Stocks

2023 2022
£ £
Stocks 10,064,939 8,678,131

4. Debtors

2023 2022
£ £
Other debtors 24,178 22,344

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 40,677 0
Amounts owed to group undertakings 2,742,769 2,519,310
Accruals 6,980 6,978
Other creditors 97,590 97,590
2,888,016 2,623,878

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to group undertakings 7,364,126 6,230,040

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

8. Ultimate controlling party

Parent Company:

Social Real Estate Ventures LLP
71-75 Shelton Street, London, Greater London, United Kingdom, WC2H 9JQ