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Registered number: 01728466










SYLVAN VALE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
SYLVAN VALE LIMITED
REGISTERED NUMBER:01728466

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Investment property
 6 
750,000
700,000

  
750,000
700,000

Current assets
  

Cash at bank and in hand
 7 
18,625
36,179

  
18,625
36,179

Creditors: amounts falling due within one year
 8 
(711,671)
(682,715)

Net current liabilities
  
 
 
(693,046)
 
 
(646,536)

Total assets less current liabilities
  
56,954
53,464

Creditors: amounts falling due after more than one year
 9 
(219,969)
(219,964)

  

Net liabilities
  
(163,015)
(166,500)


Capital and reserves
  

Called up share capital 
 11 
2
2

Investment property reserve
 12 
135,152
97,150

Profit and loss account
 12 
(298,169)
(263,652)

  
(163,015)
(166,500)


Page 1

 
SYLVAN VALE LIMITED
REGISTERED NUMBER:01728466
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 comprehensive income 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 on 1 September 2024.




E F Cousins
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SYLVAN VALE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Sylvan Vale Limited, 01728466, is a private company, limited by shares, incorporated in England and Wales, with its registered office at 10 St Giles Business Park, Newtown, Powys, SY16 3AJ and principal place of business at Sylvan Vale House, Churchstoke, Montgomery, SY15 6TG.
The principal activity of the company continues to be property holding and letting.

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

Going concern

The financial statements are prepared on a going concern basis and assumes the continued support of the director.

 
2.3

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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

Page 3

 
SYLVAN VALE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the Director 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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 4

 
SYLVAN VALE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 October 2022
27,377



At 30 September 2023

27,377



Depreciation


At 1 October 2022
27,377



At 30 September 2023

27,377



Net book value



At 30 September 2023
-



At 30 September 2022
-

Page 5

 
SYLVAN VALE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 October 2022
700,000
-
700,000


Additions at cost
11,998
-
11,998


Surplus on revaluation
-
38,002
38,002



At 30 September 2023
711,998
38,002
750,000

The 2023 valuations were made by the director, on an open market value for existing use basis.

2023
2022
£
£

Revaluation reserves


At 1 October 2022
97,150
97,150

Net deficit in movement properties
38,002
-

At 30 September 2023
135,152
97,150



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
614,848
602,850

614,848
602,850


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,625
36,179

18,625
36,179


Page 6

 
SYLVAN VALE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
84
35

Other creditors
710,627
681,525

Accruals and deferred income
960
1,155

711,671
682,715



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
219,969
219,964

219,969
219,964


The following liabilities were secured:

2023
2022
£
£



Bank loans
219,969
219,964

219,969
219,964

Details of security provided:

The loans are secured on the assets to which they relate.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable other than by instalments
219,969
219,984

219,969
219,984



Page 7

 
SYLVAN VALE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
219,969
219,964

219,969
219,964

219,969
219,964



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



12.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve represents the revaluation of the Investment property, over the cost of the asset, to bring it in line with the current market value.

Profit and loss account

The profit and loss accounts represents the accumulate profits of the Company since incorporation less distributions made to shareholders.

 
Page 8