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REGISTERED NUMBER: 12344615 (England and Wales)















SILVER SMITH PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024






SILVER SMITH PROPERTIES LIMITED (REGISTERED NUMBER: 12344615)

CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 January 2023 to 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SILVER SMITH PROPERTIES LIMITED

COMPANY INFORMATION
for the period 1 January 2023 to 31 March 2024







DIRECTORS: Dr M C F Smith
Dr H B Smith





REGISTERED OFFICE: Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS





REGISTERED NUMBER: 12344615 (England and Wales)





ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

SILVER SMITH PROPERTIES LIMITED (REGISTERED NUMBER: 12344615)

BALANCE SHEET
31 March 2024

2024 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 640 522
Investment property 5 746,704 476,546
747,344 477,068

CURRENT ASSETS
Debtors 6 864 3,457
Cash at bank 32,052 142,467
32,916 145,924
CREDITORS
Amounts falling due within one year 7 (405,127 ) (401,423 )
NET CURRENT LIABILITIES (372,211 ) (255,499 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

375,133

221,569

CREDITORS
Amounts falling due after more than one
year

8

(417,586

)

(260,348

)
NET LIABILITIES (42,453 ) (38,779 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (42,553 ) (38,879 )
SHAREHOLDERS' FUNDS (42,453 ) (38,779 )

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

SILVER SMITH PROPERTIES LIMITED (REGISTERED NUMBER: 12344615)

BALANCE SHEET - 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 8 October 2024 and were signed on its behalf by:





Dr M C F Smith - Director


SILVER SMITH PROPERTIES LIMITED (REGISTERED NUMBER: 12344615)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 January 2023 to 31 March 2024


1. STATUTORY INFORMATION

Silver Smith 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is derived from rental income, which is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including other creditors and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

Taxation
Taxation for the period 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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

SILVER SMITH PROPERTIES LIMITED (REGISTERED NUMBER: 12344615)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2023 to 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 614
Additions 260
At 31 March 2024 874
DEPRECIATION
At 1 January 2023 92
Charge for period 142
At 31 March 2024 234
NET BOOK VALUE
At 31 March 2024 640
At 31 December 2022 522

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 476,546
Additions 270,158
At 31 March 2024 746,704
NET BOOK VALUE
At 31 March 2024 746,704
At 31 December 2022 476,546

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Other debtors 864 3,457

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Other creditors 405,127 401,423

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2022
£    £   
Bank loans 417,586 260,348

SILVER SMITH PROPERTIES LIMITED (REGISTERED NUMBER: 12344615)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 January 2023 to 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2022
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 417,586 260,348

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£    £   
Bank loans 417,586 260,348

The bank loans are secured against the relevant property to which they relate.

10. RELATED PARTY DISCLOSURES

Creditors includes a £395,365 (2022 - £395,168) loan from MRCPSYCHMENTOR LIMITED, a company owned by the directors of Silver Smith Properties Ltd Limited. The loans are interest free and will be repaid when funds permit.

Loans owing to the directors on an interest free basis of £6,055 (2022 - £3,328) were outstanding at the year end, the amounts are repayable on demand.

11. GOING CONCERN

The business is dependant on the continuing support of the directors.