Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr P Curtis 01/04/1993 Mr H C Savile 13/10/2014 The 8th Earl of Mexborough Hon Mrs Z L Savile Mr P Stuchlik 01/04/1996 18 November 2024 no description of principal activity 00099256 2024-03-31 00099256 bus:Director1 2024-03-31 00099256 bus:Director2 2024-03-31 00099256 bus:Director5 2024-03-31 00099256 2023-03-31 00099256 core:CurrentFinancialInstruments 2024-03-31 00099256 core:CurrentFinancialInstruments 2023-03-31 00099256 core:ShareCapital 2024-03-31 00099256 core:ShareCapital 2023-03-31 00099256 core:RetainedEarningsAccumulatedLosses 2024-03-31 00099256 core:RetainedEarningsAccumulatedLosses 2023-03-31 00099256 core:LeaseholdImprovements 2023-03-31 00099256 core:FurnitureFittings 2023-03-31 00099256 core:OtherPropertyPlantEquipment 2023-03-31 00099256 core:LeaseholdImprovements 2024-03-31 00099256 core:FurnitureFittings 2024-03-31 00099256 core:OtherPropertyPlantEquipment 2024-03-31 00099256 2022-03-31 00099256 2023-04-01 2024-03-31 00099256 bus:FilletedAccounts 2023-04-01 2024-03-31 00099256 bus:SmallEntities 2023-04-01 2024-03-31 00099256 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00099256 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00099256 bus:Director1 2023-04-01 2024-03-31 00099256 bus:Director2 2023-04-01 2024-03-31 00099256 bus:Director3 2023-04-01 2024-03-31 00099256 bus:Director4 2023-04-01 2024-03-31 00099256 bus:Director5 2023-04-01 2024-03-31 00099256 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 00099256 core:FurnitureFittings 2023-04-01 2024-03-31 00099256 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00099256 2022-04-01 2023-03-31 00099256 core:LeaseholdImprovements 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 00099256 (England and Wales)

SIFTON PRAED AND COMPANY LIMITED

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

SIFTON PRAED AND COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SIFTON PRAED AND COMPANY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
SIFTON PRAED AND COMPANY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr P Curtis
Mr H C Savile
The 8th Earl of Mexborough
Hon Mrs Z L Savile
Mr P Stuchlik
REGISTERED OFFICE 54 Beauchamp Place
London
SW3 1NY
United Kingdom
COMPANY NUMBER 00099256 (England and Wales)
SIFTON PRAED AND COMPANY LIMITED

BALANCE SHEET

As at 31 March 2024
SIFTON PRAED AND COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 41,601 36,276
Investment property 4 1,550,000 1,250,000
1,591,601 1,286,276
Current assets
Stocks 4,324,762 4,289,116
Debtors 5 58,391 40,020
Cash at bank and in hand 3,924,758 3,780,775
8,307,911 8,109,911
Creditors: amounts falling due within one year 6 ( 93,756) ( 84,197)
Net current assets 8,214,155 8,025,714
Total assets less current liabilities 9,805,756 9,311,990
Provision for liabilities 7 ( 116,206) ( 115,830)
Net assets 9,689,550 9,196,160
Capital and reserves
Called-up share capital 14,838 14,838
Profit and loss account 9,674,712 9,181,322
Total shareholders' funds 9,689,550 9,196,160

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 Sifton Praed and Company Limited (registered number: 00099256) were approved and authorised for issue by the Board of Directors on 18 November 2024. They were signed on its behalf by:

Mr P Stuchlik
Director
SIFTON PRAED AND COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SIFTON PRAED AND COMPANY 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

Sifton Praed and Company 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 54 Beauchamp Place, London, SW3 1NY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment property 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 £.

Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Turnover

Income from the sale of stock is recognised when a sale has been agreed and the risks and rewards of ownership have transferred to the purchaser, being when the item of stock is delivered to the customer. Turnover is shown net of Value Added Tax in respect of goods and services provided to customers.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible fixed assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Leasehold improvements 5 years straight line
Fixtures and fittings 15 % reducing balance
Other property, plant and equipment 25 % reducing balance

Depreciation is charged so as to write off the cost of assets over their estimated useful lives.

Leases


The company as lessor
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors

Stocks

Stock is stated at the lower of cost and net realisable value, being the directors reasonable estimate of the open market value, and then significantly discounted making due allowances for slow moving items and reflecting the age of stock and the niche market.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

Ordinary share capital

Ordinary shares are classified as equity.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for directors. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 9 9

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 April 2023 16,253 129,216 209,869 355,338
Additions 0 0 13,629 13,629
At 31 March 2024 16,253 129,216 223,498 368,967
Accumulated depreciation
At 01 April 2023 16,253 116,724 186,085 319,062
Charge for the financial year 0 1,873 6,431 8,304
At 31 March 2024 16,253 118,597 192,516 327,366
Net book value
At 31 March 2024 0 10,619 30,982 41,601
At 31 March 2023 0 12,492 23,784 36,276

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 1,250,000
Fair value movement 300,000
As at 31 March 2024 1,550,000

Valuation

The investment property was re-valued at 31 March 2024 by the directors on an open market basis. The historical cost is £826,777 (2023 - £826,777).

5. Debtors

2024 2023
£ £
Trade debtors 5,406 0
Other debtors 52,985 40,020
58,391 40,020

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 11,637 38,895
Taxation and social security 71,610 27,873
Other creditors 10,509 17,429
93,756 84,197

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 115,830) ( 115,249)
Charged to the Profit and Loss Account ( 376) ( 581)
At the end of financial year ( 116,206) ( 115,830)

8. Obligations under leases and hire purchase contracts

Total of future minimum lease payments is as follows:

2024 2023
£ £
Not later than one year 65,750 55,750