Silverfin false false 31/03/2024 01/04/2023 31/03/2024 H S Black 01/04/2003 I H Seddon 07/06/2006 I R Seddon 18/11/1993 C Black 01/04/2003 L M Marciano 11/05/2015 R G Black 16/11/2022 17 October 2024 The principal activity of the Company during the financial year was property dealing and property developments. 00484951 2024-03-31 00484951 bus:Director1 2024-03-31 00484951 bus:Director2 2024-03-31 00484951 bus:Director3 2024-03-31 00484951 bus:Director4 2024-03-31 00484951 bus:Director5 2024-03-31 00484951 bus:Director6 2024-03-31 00484951 2023-03-31 00484951 core:CurrentFinancialInstruments 2024-03-31 00484951 core:CurrentFinancialInstruments 2023-03-31 00484951 core:ShareCapital 2024-03-31 00484951 core:ShareCapital 2023-03-31 00484951 core:RetainedEarningsAccumulatedLosses 2024-03-31 00484951 core:RetainedEarningsAccumulatedLosses 2023-03-31 00484951 core:CostValuation 2023-03-31 00484951 core:CostValuation 2024-03-31 00484951 bus:OrdinaryShareClass1 2024-03-31 00484951 bus:OrdinaryShareClass2 2024-03-31 00484951 2023-04-01 2024-03-31 00484951 bus:FilletedAccounts 2023-04-01 2024-03-31 00484951 bus:SmallEntities 2023-04-01 2024-03-31 00484951 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00484951 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00484951 bus:Director1 2023-04-01 2024-03-31 00484951 bus:Director2 2023-04-01 2024-03-31 00484951 bus:Director3 2023-04-01 2024-03-31 00484951 bus:Director4 2023-04-01 2024-03-31 00484951 bus:Director5 2023-04-01 2024-03-31 00484951 bus:Director6 2023-04-01 2024-03-31 00484951 2022-04-01 2023-03-31 00484951 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 00484951 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 00484951 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 00484951 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00484951 (England and Wales)

YELVERTON PROPERTIES DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

YELVERTON PROPERTIES DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

YELVERTON PROPERTIES DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
YELVERTON PROPERTIES DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1,916 1,916
1,916 1,916
Current assets
Stocks 4 1,543,690 1,549,079
Debtors 5 242,114 299,551
Cash at bank and in hand 218,687 217,350
2,004,491 2,065,980
Creditors: amounts falling due within one year 6 ( 188,434) ( 232,284)
Net current assets 1,816,057 1,833,696
Total assets less current liabilities 1,817,973 1,835,612
Net assets 1,817,973 1,835,612
Capital and reserves
Called-up share capital 7 9,090 9,090
Profit and loss account 1,808,883 1,826,522
Total shareholder's funds 1,817,973 1,835,612

For the financial year ending 31 March 2024 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 Yelverton Properties Developments Limited (registered number: 00484951) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

H S Black
Director

17 October 2024

YELVERTON PROPERTIES DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
YELVERTON PROPERTIES DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Yelverton Properties Developments 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 35 Ballards Lane, London, N3 1XW, 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 £.

Turnover

Revenue is recognised by the company in respect of amounts receivable from the sale of properties and consultancy income, exclusive of Value Added Tax. Income from property sales is recognised upon the exchange of unconditional contracts, and consultancy income is recognised in the period to which it relates.

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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments held as fixed assets are measured at cost less impairment.

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 property additions and direct costs.

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 trade and other debtors and creditors, and 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, amounts due to related companies 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

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 6 6

3. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 1 1
Other investments and loans 1,915 1,915
1,916 1,916

Investments in subsidiaries

2024
£
Cost
At 01 April 2023 1
At 31 March 2024 1
Carrying value at 31 March 2024 1
Carrying value at 31 March 2023 1

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 1,915 1,915
At 31 March 2024 1,915 1,915
Carrying value at 31 March 2024 1,915 1,915
Carrying value at 31 March 2023 1,915 1,915

4. Stocks

2024 2023
£ £
Stocks 1,543,690 1,549,079

5. Debtors

2024 2023
£ £
Trade debtors 0 1,599
Prepayments and accrued income 2,020 4,827
VAT recoverable 0 2,243
Corporation tax 4,138 0
Other debtors 235,956 290,882
242,114 299,551

6. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals and deferred income 8,252 30,867
Taxation and social security 182 21,417
Other creditors 180,000 180,000
188,434 232,284

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
9,000 Ordinary shares of £ 0.01 each 90 90
9,000 Deferred ordinary shares of £ 1.00 each 9,000 9,000
9,090 9,090

8. Related party transactions

Included within other debtors is a balance of £235,955 (2023: £290,700) due from a company with shared directors. This balance is unsecured and interest free with no fixed repayment terms.

Included within other creditors are balances of £180,000 (2023: £180,000) owed to companies with shared directors. These balances are unsecured and interest free with no fixed repayment terms.

9. Ultimate controlling party

The company is a subsidiary of Yelverton Properties Limited which is the ultimate parent company incorporated in England and Wales.