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REGISTERED NUMBER: SC103340 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Silvermills Estates And Land Limited

Silvermills Estates And Land Limited (Registered number: SC103340)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Silvermills Estates And Land Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J A Lonie
J D Lonie





REGISTERED OFFICE: 11 Alva Street
Edinburgh
EH2 4PH





REGISTERED NUMBER: SC103340 (Scotland)





ACCOUNTANTS: LinklatersCA
8 Darnaway Street
Edinburgh
EH3 6BG

Silvermills Estates And Land Limited (Registered number: SC103340)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 458,610 542,857
Investment property 5 25,524,088 22,350,000
25,982,698 22,892,857

CURRENT ASSETS
Debtors 6 820,096 846,308
Cash at bank 966,285 3,186,819
1,786,381 4,033,127
CREDITORS
Amounts falling due within one year 7 480,805 244,205
NET CURRENT ASSETS 1,305,576 3,788,922
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,288,274

26,681,779

PROVISIONS FOR LIABILITIES 2,640,393 2,022,690
NET ASSETS 24,647,881 24,659,089

CAPITAL AND RESERVES
Called up share capital 997,027 997,027
Share premium (65,261 ) (65,261 )
Fair value reserve 8 12,342,549 12,948,749
Retained earnings 11,373,566 10,778,574
SHAREHOLDERS' FUNDS 24,647,881 24,659,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Silvermills Estates And Land Limited (Registered number: SC103340)

Balance Sheet - continued
30 April 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 22 October 2024 and were signed on its behalf by:





J D Lonie - Director


Silvermills Estates And Land Limited (Registered number: SC103340)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Silvermills Estates And Land Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Silvermills Estates And Land Limited (Registered number: SC103340)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 709,387 362,384 23,083 1,094,854
DEPRECIATION
At 1 May 2023 204,358 324,828 22,811 551,997
Charge for year 70,939 13,036 272 84,247
At 30 April 2024 275,297 337,864 23,083 636,244
NET BOOK VALUE
At 30 April 2024 434,090 24,520 - 458,610
At 30 April 2023 505,029 37,556 272 542,857

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 22,350,000
Additions 3,174,088
At 30 April 2024 25,524,088
NET BOOK VALUE
At 30 April 2024 25,524,088
At 30 April 2023 22,350,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2002 2,260,869
Valuation in 2003 2,208,360
Valuation in 2006 1,579,084
Valuation in 2012 (4,571,759 )
Valuation in 2017 5,090,000
Valuation in 2020 1,526,757
Valuation in 2022 (364,145 )
Valuation in 2023 7,139,217
Cost 10,655,705
25,524,088

Silvermills Estates And Land Limited (Registered number: SC103340)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 10,655,705 7,481,617

Investment property was valued on a fair value basis on 30 April 2024 by the directors .

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 46,532 180,742
Other debtors 131,564 23,566
178,096 204,308

Amounts falling due after more than one year:
Other debtors 642,000 642,000

Aggregate amounts 820,096 846,308

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 121,760 7,072
Taxation and social security 245,078 151,033
Other creditors 113,967 86,100
480,805 244,205

8. RESERVES
Fair
value
reserve
£   
At 1 May 2023 12,948,749
Movement in deferred tax (606,200 )

At 30 April 2024 12,342,549

9. ULTIMATE CONTROLLING PARTY

The controlling party is J A Lonie.