Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mrs S Slade 18/01/2022 Mr P Slade 18/01/2022 27 August 2024 The principal activity of the company during the financial year was generating rental property income. 13855603 2023-12-31 13855603 bus:Director1 2023-12-31 13855603 bus:Director2 2023-12-31 13855603 2022-12-31 13855603 core:CurrentFinancialInstruments 2023-12-31 13855603 core:CurrentFinancialInstruments 2022-12-31 13855603 core:Non-currentFinancialInstruments 2023-12-31 13855603 core:Non-currentFinancialInstruments 2022-12-31 13855603 core:ShareCapital 2023-12-31 13855603 core:ShareCapital 2022-12-31 13855603 core:RetainedEarningsAccumulatedLosses 2023-12-31 13855603 core:RetainedEarningsAccumulatedLosses 2022-12-31 13855603 core:InvestmentPropertyIncludedWithinPPE 2022-12-31 13855603 core:FurnitureFittings 2022-12-31 13855603 core:InvestmentPropertyIncludedWithinPPE 2023-12-31 13855603 core:FurnitureFittings 2023-12-31 13855603 core:CurrentFinancialInstruments core:Secured 2023-12-31 13855603 core:MoreThanFiveYears 2023-12-31 13855603 core:MoreThanFiveYears 2022-12-31 13855603 bus:OrdinaryShareClass1 2023-12-31 13855603 2023-01-01 2023-12-31 13855603 bus:FilletedAccounts 2023-01-01 2023-12-31 13855603 bus:SmallEntities 2023-01-01 2023-12-31 13855603 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13855603 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13855603 bus:Director1 2023-01-01 2023-12-31 13855603 bus:Director2 2023-01-01 2023-12-31 13855603 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 13855603 2022-01-18 2022-12-31 13855603 core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 13855603 core:FurnitureFittings 2023-01-01 2023-12-31 13855603 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 13855603 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 13855603 core:MoreThanFiveYears 2023-01-01 2023-12-31 13855603 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13855603 bus:OrdinaryShareClass1 2022-01-18 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13855603 (England and Wales)

S P OSPREY LIMITED

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

S P OSPREY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

S P OSPREY LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
S P OSPREY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mrs S Slade
Mr P Slade
SECRETARY Mrs S Slade
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
BUSINESS ADDRESS Unit 1 The Alpha Centre
Osprey Road
Sowton Industrial Estate
Exeter, EX2 7LH
COMPANY NUMBER 13855603 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
S P OSPREY LIMITED

BALANCE SHEET

As at 31 December 2023
S P OSPREY LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023 31.12.2022
£ £
Fixed assets
Tangible assets 3 480,700 457,912
480,700 457,912
Current assets
Debtors 4 13,840 6,083
Cash at bank and in hand 865 216
14,705 6,299
Creditors: amounts falling due within one year 5 ( 55,484) ( 29,981)
Net current liabilities (40,779) (23,682)
Total assets less current liabilities 439,921 434,230
Creditors: amounts falling due after more than one year 6 ( 398,981) ( 433,613)
Provision for liabilities ( 8,628) 1,538
Net assets 32,312 2,155
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 32,212 2,055
Total shareholders' funds 32,312 2,155

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 S P Osprey Limited (registered number: 13855603) were approved and authorised for issue by the Board of Directors on 27 August 2024. They were signed on its behalf by:

Mrs S Slade
Director
S P OSPREY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
S P OSPREY 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 period, unless otherwise stated.

General information and basis of accounting

S P Osprey 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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Unit 1 The Alpha Centre, Osprey Road, Sowton Industrial Estate, Exeter, EX2 7LH.

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 amounts chargeable in respect of rents receivable on an accruals basis.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Investment property not depreciated
Fixtures and fittings 5 years straight line
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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

Year ended
31.12.2023
Period from
18.01.2022 to
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Investment property Fixtures and fittings Total
£ £ £
Cost
At 01 January 2023 457,613 366 457,979
Additions 22,861 0 22,861
At 31 December 2023 480,474 366 480,840
Accumulated depreciation
At 01 January 2023 0 67 67
Charge for the financial year 0 73 73
At 31 December 2023 0 140 140
Net book value
At 31 December 2023 480,474 226 480,700
At 31 December 2022 457,613 299 457,912

The property has been valued by the Directors based on the original cost of acquisition.

4. Debtors

31.12.2023 31.12.2022
£ £
Trade debtors 6,942 1,654
Other debtors 6,898 4,429
13,840 6,083

5. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Bank loans (secured) 25,952 24,754
Trade creditors 27,432 1,064
Other taxation and social security 0 2,163
Other creditors 2,100 2,000
55,484 29,981

The above bank loan value of £25,952 (2022: £24,754) is secured by way of fixed and floating charges over the assets and undertaking of the company.

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

31.12.2023 31.12.2022
£ £
Bank loans (secured) 234,102 260,007
Other creditors 164,879 173,606
398,981 433,613

The above bank loan value of £234,102 (2022: £260,007) is secured by way of fixed and floating charges over the assets and undertaking of the company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

31.12.2023 31.12.2022
£ £
Bank loans (secured / repayable by instalments) 116,774 148,238

The above bank loan value of £116,774 (2022: £148,238) is secured by way of fixed and floating charges over the assets and undertaking of the company.

7. Called-up share capital

31.12.2023 31.12.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's directors

31.12.2023 31.12.2022
£ £
Balance owed to the directors 46,000 54,747

The loan is interest free and repayable after more than 1 year.

Other related party transactions

31.12.2023 31.12.2022
£ £
Balance due to a company under common control 118,879 118,859

The loan is interest free and repayable after more than 1 year.