Silverfin false false 31/03/2024 01/11/2022 31/03/2024 G M Thornton 26/10/2017 13 November 2024 The principal activity of the Company during the financial year is buying, selling, letting and operating of own or leased real estate. 11032987 2024-03-31 11032987 bus:Director1 2024-03-31 11032987 2022-10-31 11032987 core:CurrentFinancialInstruments 2024-03-31 11032987 core:CurrentFinancialInstruments 2022-10-31 11032987 core:Non-currentFinancialInstruments 2024-03-31 11032987 core:Non-currentFinancialInstruments 2022-10-31 11032987 core:ShareCapital 2024-03-31 11032987 core:ShareCapital 2022-10-31 11032987 core:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 11032987 core:FurtherSpecificReserve3ComponentTotalEquity 2022-10-31 11032987 core:RetainedEarningsAccumulatedLosses 2024-03-31 11032987 core:RetainedEarningsAccumulatedLosses 2022-10-31 11032987 core:Non-currentFinancialInstruments core:Secured 2024-03-31 11032987 2022-11-01 2024-03-31 11032987 bus:FilletedAccounts 2022-11-01 2024-03-31 11032987 bus:SmallEntities 2022-11-01 2024-03-31 11032987 bus:AuditExemptWithAccountantsReport 2022-11-01 2024-03-31 11032987 bus:PrivateLimitedCompanyLtd 2022-11-01 2024-03-31 11032987 bus:Director1 2022-11-01 2024-03-31 11032987 2021-11-01 2022-10-31 11032987 core:Non-currentFinancialInstruments 2022-11-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 11032987 (England and Wales)

LIME ESTATES DEVELOPMENT HOLDINGS LIMITED

Unaudited Financial Statements
For the financial period from 01 November 2022 to 31 March 2024
Pages for filing with the registrar

LIME ESTATES DEVELOPMENT HOLDINGS LIMITED

Unaudited Financial Statements

For the financial period from 01 November 2022 to 31 March 2024

Contents

LIME ESTATES DEVELOPMENT HOLDINGS LIMITED

BALANCE SHEET

As at 31 March 2024
LIME ESTATES DEVELOPMENT HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.10.2022
£ £
Fixed assets
Investment property 3 2,170,401 2,189,659
2,170,401 2,189,659
Current assets
Debtors 4 113,710 1,640
Cash at bank and in hand 3,399 10,073
117,109 11,713
Creditors: amounts falling due within one year 5 ( 171,456) ( 204,376)
Net current liabilities (54,347) (192,663)
Total assets less current liabilities 2,116,054 1,996,996
Creditors: amounts falling due after more than one year 6 ( 1,782,130) ( 1,675,743)
Net assets 333,924 321,253
Capital and reserves
Called-up share capital 100 100
Undistributable reserve 294,370 294,370
Profit and loss account 39,454 26,783
Total shareholder's funds 333,924 321,253

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Lime Estates Development Holdings Limited (registered number: 11032987) were approved and authorised for issue by the Director on 13 November 2024. They were signed on its behalf by:

G M Thornton
Director
LIME ESTATES DEVELOPMENT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2022 to 31 March 2024
LIME ESTATES DEVELOPMENT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lime Estates Development Holdings 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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and 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 £.

Reporting period length

Reporting period length

Turnover

Turnover comprises the fair value of the consideration received or receivable for the rental of residential property. The company recognises revenue on a monthly basis net of value added tax.

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 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
01.11.2022 to
31.03.2024
Year ended
31.10.2022
Number Number
Monthly average number of persons employed by the Company during the period, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 November 2022 2,189,659
Additions (19,258)
As at 31 March 2024 2,170,401

Valuation

A full market valuation of investment property was completed at the statement of financial position date. As a result of the valuation a number of properties prior period impairments were reversed. The fair value of the Group’s residential investment property at 31 October 2023 have been arrived at on the basis of valuations carried out on that date by external valuers having appropriate relevant professional qualifications and recent experience in the location and category of property being valued. The valuations performed which conform to the Valuations Standards of the Royal Institution of Chartered Surveyors and with the International Valuations Standards (IVS) 2013 were arrived at by reference to market evidence of transaction prices for similar properties. The comparison approach was used for all residential properties which involved reviewing recent market evidence from the sales of similar properties during the period.

For commercial investment property, the yield methodology was used which involved applying market derived capitalisation yields to current and market derived future income streams with appropriate adjustments for income voids arising from vacancies or rent free periods. These capitalisation yields and future income streams are derived from comparable property and leasing transactions.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

31.03.2024 31.10.2022
£ £
Historic cost 1,826,239 1,826,239

4. Debtors

31.03.2024 31.10.2022
£ £
Trade debtors 19,258 0
Other debtors 94,452 1,640
113,710 1,640

5. Creditors: amounts falling due within one year

31.03.2024 31.10.2022
£ £
Bank loans 6,188 5,988
Trade creditors 2,262 550
Taxation and social security 3,458 6,335
Other creditors 159,548 191,503
171,456 204,376

6. Creditors: amounts falling due after more than one year

31.03.2024 31.10.2022
£ £
Bank loans (secured £ 1,647,030) 1,782,130 1,675,743

The bank loans are secured on freehold properties of the Company with a carrying value of £2,189,659 (2022: £2,189,659)