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Registered number: 14881752









SILVERLAND RESIDENTIAL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
SILVERLAND RESIDENTIAL LTD
REGISTERED NUMBER: 14881752

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
7,758,554

  
7,758,554

Current assets
  

Debtors: amounts falling due within one year
 5 
8,337

Cash at bank and in hand
 6 
17,186

  
25,523

Creditors: amounts falling due within one year
 7 
(2,450,768)

Net current (liabilities)/assets
  
 
 
(2,425,245)

Total assets less current liabilities
  
5,333,309

Creditors: amounts falling due after more than one year
 8 
(2,682,065)

Provisions for liabilities
  

Deferred tax
  
(725,631)

  
 
 
(725,631)

Net assets
  
1,925,613


Capital and reserves
  

Called up share capital 
  
278

Profit and loss account
 12 
1,925,335

  
1,925,613


Page 1

 
SILVERLAND RESIDENTIAL LTD
REGISTERED NUMBER: 14881752
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




E Houri
Director

Date: 14 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SILVERLAND RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Silverland Residential Ltd is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 71/72 Clapham Common South Side, London, SW4 9DA.
The company's principal activity is rental of freehold real estate.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover represents rents receivable net of VAT.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
SILVERLAND RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined by directors based on periodic external reviews and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the period was 4.

Page 4

 
SILVERLAND RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
4,856,029


Surplus on revaluation
2,902,525



At 31 March 2024
7,758,554

The 2024 valuations were made by external valuers, on an open market value for existing use basis.








5.


Debtors

2024
£


Other debtors
7,031

Called up share capital not paid
278

Prepayments and accrued income
1,028

8,337



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
17,186

17,186


Page 5

 
SILVERLAND RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
104,389

Amounts owed to connected companies
54,828

Other creditors
2,275,057

Accruals and deferred income
16,494

2,450,768



8.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
2,174,251

Other creditors
507,814

2,682,065



9.


Loans


Analysis of the maturity of loans is given below:


2024
£



Amounts falling due 2-5 years

Bank loans
2,174,250


2,174,250


2,174,250


Page 6

 
SILVERLAND RESIDENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Deferred taxation



2024


£






Charged to profit or loss
(725,631)



At end of year
(725,631)

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
(725,631)

(725,631)


11.


Related party transactions

At 31 March 2024, the company owed £54,828 to companies with common directorship.


12.


Reserves

Profit and loss account

In accordance with the requirements of FRS102, the profit and loss account reserve includes both distributable and non-distributable reserves as follows:



2024
£
Distributable reserves

(977,190)

Non-distributable reserves

2,902,525

1,925,335


 
Page 7