Company No:
Contents
DIRECTORS | S Wareing |
N Wareing |
SECRETARY | N Wareing |
REGISTERED OFFICE | Wey Court West |
Union Road | |
Farnham | |
Surrey | |
GU9 7PT | |
United Kingdom |
COMPANY NUMBER | 04631874 (England and Wales) |
ACCOUNTANT | Shaw Gibbs Limited |
Wey Court West | |
Union Road | |
Farnham | |
Surrey | |
GU9 7PT |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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730,378 | 940,584 | |||
Current assets | ||||
Debtors | 5 |
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Investments | 6 |
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Cash at bank and in hand | 7 |
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22,837 | 15,793 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current liabilities | (60,191) | (461,088) | ||
Total assets less current liabilities | 670,187 | 479,496 | ||
Creditors: amounts falling due after more than one year | 9 | (
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Provision for liabilities | 10 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 11 |
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Revaluation reserve |
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Profit and loss account | (
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Silvercross Properties (No.3) Limited (registered number:
N Wareing
Director |
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.
Silvercross Properties (No.3) 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 Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
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 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.
Office equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The fair value is determined annually by the directors, on an open market value for existing use basis.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 February 2023 |
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At 31 January 2024 |
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Accumulated depreciation | |||
At 01 February 2023 |
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Charge for the financial year |
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At 31 January 2024 |
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Net book value | |||
At 31 January 2024 |
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At 31 January 2023 |
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Investment property | |
£ | |
Valuation | |
As at 01 February 2023 |
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Fair value movement | 20,000 |
Disposals | (230,000) |
As at 31 January 2024 |
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Split between Freehold and Leasehold property
The net book value of land and buildings may be further analysed as follows:
2024 | 2023 | ||
£ | £ | ||
Freehold | 500,000 | 480,000 | |
Long leasehold | 230,000 | 460,000 | |
730,000 | 940,000 |
Valuation
The 2024 valuations were made by the directors, on an open market value for existing use basis.
2024 | 2023 | ||
£ | £ | ||
Prepayments |
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2024 | 2023 | ||
£ | £ | ||
Other investments – at cost less impairment |
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2024 | 2023 | ||
£ | £ | ||
Cash at bank and in hand |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Amounts owed to directors |
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Other loans |
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Accruals and deferred income |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
2024 | 2023 | ||
£ | £ | ||
Bank loans (secured) |
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2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year | (
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Charged to the Profit and Loss Account | (
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At the end of financial year | (
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The deferred taxation balance is made up as follows:
2024 | 2023 | ||
£ | £ | ||
Accelerated capital allowances | (
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Revaluation of investment property | (
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Tax losses carry forward |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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