Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity22falsetruefalse 04715160 2023-04-01 2024-03-31 04715160 2022-04-01 2023-03-31 04715160 2024-03-31 04715160 2023-03-31 04715160 2022-04-01 04715160 1 2023-04-01 2024-03-31 04715160 1 2022-04-01 2023-03-31 04715160 d:Director1 2023-04-01 2024-03-31 04715160 d:Director2 2023-04-01 2024-03-31 04715160 d:RegisteredOffice 2023-04-01 2024-03-31 04715160 e:FreeholdInvestmentProperty 2023-04-01 2024-03-31 04715160 e:FreeholdInvestmentProperty 2024-03-31 04715160 e:FreeholdInvestmentProperty 2023-03-31 04715160 e:CurrentFinancialInstruments 2024-03-31 04715160 e:CurrentFinancialInstruments 2023-03-31 04715160 e:Non-currentFinancialInstruments 2024-03-31 04715160 e:Non-currentFinancialInstruments 2023-03-31 04715160 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 04715160 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 04715160 e:Non-currentFinancialInstruments e:AfterOneYear 2024-03-31 04715160 e:Non-currentFinancialInstruments e:AfterOneYear 2023-03-31 04715160 e:ShareCapital 2023-04-01 2024-03-31 04715160 e:ShareCapital 2024-03-31 04715160 e:ShareCapital 2022-04-01 2023-03-31 04715160 e:ShareCapital 2023-03-31 04715160 e:ShareCapital 2022-04-01 04715160 e:RevaluationReserve 2023-04-01 2024-03-31 04715160 e:RevaluationReserve 2024-03-31 04715160 e:RevaluationReserve 1 2023-04-01 2024-03-31 04715160 e:RevaluationReserve 2022-04-01 2023-03-31 04715160 e:RevaluationReserve 2023-03-31 04715160 e:RevaluationReserve 2022-04-01 04715160 e:RevaluationReserve 1 2022-04-01 2023-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2024-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2023-03-31 04715160 e:RetainedEarningsAccumulatedLosses 2022-04-01 04715160 d:FRS102 2023-04-01 2024-03-31 04715160 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04715160 d:FullAccounts 2023-04-01 2024-03-31 04715160 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04715160 6 2023-04-01 2024-03-31 04715160 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 04715160







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


SILVERDENE PROPERTIES LIMITED






































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SILVERDENE PROPERTIES LIMITED
 


 
COMPANY INFORMATION


Directors
D P Faulkner 
G M Faulkner 




Registered number
04715160



Registered office
Silverdene
South Drive

Dorking

Surrey

RH5 4AG




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


SILVERDENE PROPERTIES LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3 - 4
Notes to the Financial Statements
5 - 9


 


SILVERDENE PROPERTIES LIMITED
REGISTERED NUMBER:04715160



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2
2

Investment property
 5 
1,912,407
2,167,407

  
1,912,409
2,167,409

Current assets
  

Debtors: amounts falling due within one year
 6 
84,415
40,000

  
84,415
40,000

Creditors: amounts falling due within one year
 7 
(45,086)
(50,002)

Net current assets/(liabilities)
  
 
 
39,329
 
 
(10,002)

Total assets less current liabilities
  
1,951,738
2,157,407

Creditors: amounts falling due after more than one year
 8 
(1,217,151)
(1,360,491)

Provisions for liabilities
  

Deferred tax
  
(159,773)
(190,515)

  
 
 
(159,773)
 
 
(190,515)

Net assets
  
574,814
606,401


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
479,318
571,545

Profit and loss account
  
95,494
34,854

  
574,814
606,401


Page 1

 


SILVERDENE PROPERTIES LIMITED
REGISTERED NUMBER:04715160


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G M Faulkner
Director
Date: 27 November 2024

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 


SILVERDENE PROPERTIES LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
2
571,545
34,854
606,401


Comprehensive income for the year

Profit for the year

-
-
13,413
13,413


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
13,413
13,413


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(45,000)
(45,000)

Transfer to/from profit and loss account
-
-
92,227
92,227

Transfer between other reserves
-
(92,227)
-
(92,227)


Total transactions with owners
-
(92,227)
47,227
(45,000)


At 31 March 2024
2
479,318
95,494
574,814


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 


SILVERDENE PROPERTIES LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
2
617,269
16,447
633,718


Comprehensive income for the year

Loss for the year

-
-
(23,317)
(23,317)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(23,317)
(23,317)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(4,000)
(4,000)

Transfer to/from profit and loss account
-
-
45,724
45,724

Transfer between other reserves
-
(45,724)
-
(45,724)


Total transactions with owners
-
(45,724)
41,724
(4,000)


At 31 March 2023
2
571,545
34,854
606,401


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Silverdene Properties Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office and principle place of business is disclosed on the company information page. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The financial statements are prepared on a going concern basis. There have been no significant judgements or estimates used in these financial statements that impact on the going concern basis.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
2



At 31 March 2024
2




Page 7

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
2,167,407


Disposals
(255,000)



At 31 March 2024
1,912,407

The January 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


Investment property revaluation reserve net of deferred tax
479,318
571,545

At 31 March 2024
479,318
571,545



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

2024
2023
£
£


Historic cost
1,273,316
1,405,347

1,273,316
1,405,347


6.


Debtors

2024
2023
£
£


Other debtors
84,415
40,000

84,415
40,000


Page 8

 


SILVERDENE PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
10,797
6,967

Bank loans
4,097
3,994

Amounts owed to group undertakings
69
178

Corporation tax
-
2,260

Other creditors
26,623
30,667

Accruals and deferred income
3,500
5,936

45,086
50,002



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,217,151
1,360,491

1,217,151
1,360,491


The following liabilities were secured:

2024
2023
£
£



Bank overdrafts
10,797
6,967

Bounce back loan
9,016
13,014

Property loans
1,212,232
1,351,471

1,232,045
1,371,452

Details of security provided:

Bank overdrafts are secured by way of legal charge over the assets of the company.
The Bounce back loan is secured by way of guarantee given by the U.K. Government.
Property loans are secured against the investment properties to which they relate.


9.


Transactions with directors

At the year end the directors owed the company £44,415 (2023 : £5,631 was owed to the directors). During the year a total of £95,046 was advanced to the directors and £45,000 was repaid. The balance is interest free and repayable on demand.

 
Page 9