Silly Midon Limited
Unaudited Financial Statements
For the year ended 31 October 2024
Pages for Filing with Registrar
Company Registration No. 04363395 (England and Wales)
Silly Midon Limited
Company Information
Directors
Mrs J M Reich
Mr D S Reich
Secretary
Mrs J M Reich
Company number
04363395
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Silly Midon Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
Silly Midon Limited
Balance Sheet
As at 31 October 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
960,000
960,000
Current assets
Debtors
5
2,315
1,607
Cash at bank and in hand
260,469
234,711
262,784
236,318
Creditors: amounts falling due within one year
6
(687,014)
(686,634)
Net current liabilities
(424,230)
(450,316)
Net assets
535,770
509,684
Capital and reserves
Called up share capital
7
100
100
Revaluation reserve
293,374
293,374
Profit and loss reserves
242,296
216,210
Total equity
535,770
509,684

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 29 November 2024 and are signed on its behalf by:
Mr D S Reich
Director
Company Registration No. 04363395
Silly Midon Limited
Statement of Changes in Equity
For the year ended 31 October 2024
Page 2
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 November 2022
100
293,374
195,463
488,937
Period ended 31 October 2023:
Profit and total comprehensive income for the year
-
-
20,747
20,747
Balance at 31 October 2023
100
293,374
216,210
509,684
Period ended 31 October 2024:
Profit and total comprehensive income for the year
-
-
26,086
26,086
Balance at 31 October 2024
100
293,374
242,296
535,770
Silly Midon Limited
Notes to the Financial Statements
For the year ended 31 October 2024
Page 3
1
Accounting policies
Company information

Silly Midon Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the rental income generated form the company's investment properties.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% Straight line
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

All of the company's financial assets and liabilities are basic and measured at amortised cost.

Silly Midon Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
Page 4
1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2020: 0).

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 and 31 October 2024
5,871
Depreciation
At 1 November 2023 and 31 October 2024
5,871
Carrying amount
At 31 October 2024
-
0
At 31 October 2023
-
0
4
Investment property
2024
£
Fair value
At 1 November 2023 and 31 October 2024
960,000
Silly Midon Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2024
4
Investment property
(Continued)
Page 5

In December 2010, the company purchased two investment properties on the open market. On 10 January 2014 a further property was purchased.

 

In 2017 the investment properties were revalued to their open market value of £960,000, with a fair value increase of £293,374. The historical cost of the investment properties is £666,626.

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
2,315
1,607
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
6,119
4,867
Other creditors
679,275
680,147
Accruals and deferred income
1,620
1,620
687,014
686,634
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 ordinary shares of £1 each
100
100
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