Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.0No description of principal activity2023-03-24truetruefalse 14755172 2023-03-23 14755172 2023-03-24 2024-03-31 14755172 2022-03-24 2023-03-23 14755172 2024-03-31 14755172 c:Director1 2023-03-24 2024-03-31 14755172 d:FurnitureFittings 2023-03-24 2024-03-31 14755172 d:FurnitureFittings 2024-03-31 14755172 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-24 2024-03-31 14755172 d:LeaseholdInvestmentProperty 2023-03-24 2024-03-31 14755172 d:LeaseholdInvestmentProperty 2024-03-31 14755172 d:CurrentFinancialInstruments 2024-03-31 14755172 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14755172 d:ShareCapital 2024-03-31 14755172 d:RetainedEarningsAccumulatedLosses 2024-03-31 14755172 c:OrdinaryShareClass1 2023-03-24 2024-03-31 14755172 c:OrdinaryShareClass1 2024-03-31 14755172 c:FRS102 2023-03-24 2024-03-31 14755172 c:AuditExempt-NoAccountantsReport 2023-03-24 2024-03-31 14755172 c:FullAccounts 2023-03-24 2024-03-31 14755172 c:PrivateLimitedCompanyLtd 2023-03-24 2024-03-31 14755172 2 2023-03-24 2024-03-31 14755172 e:PoundSterling 2023-03-24 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14755172









THE SILK DISTRICT C24 LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
THE SILK DISTRICT C24 LTD
REGISTERED NUMBER: 14755172

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
46,100

Investment property
 5 
5,191,256

  
5,237,356

Current assets
  

Debtors: amounts falling due within one year
 6 
22,883

Cash at bank and in hand
 7 
48,484

  
71,367

Creditors: amounts falling due within one year
 8 
(5,365,074)

Net current (liabilities)/assets
  
 
 
(5,293,707)

Total assets less current liabilities
  
(56,351)

  

Net (liabilities)/assets
  
(56,351)


Capital and reserves
  

Called up share capital 
 9 
100

Profit and loss account
  
(56,451)

  
(56,351)


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her 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 on 2 December 2024.



Page 1

 
THE SILK DISTRICT C24 LTD
REGISTERED NUMBER: 14755172
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024


J H Lau
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
THE SILK DISTRICT C24 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The Silk District C24 Ltd is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS. The company was incorporated on 24 March 2023 and it started to trade on that date. The company's principal activity is property investment.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been drawn up on a going concern basis on the assumption that the
company's director will continue to provide such financial support as the company requires to enable it to meet its liabilities when they fall due. The company has received assurance that such support will be provided.
Should such support be withdrawn, the company may be unable to continue trading and
adjustments may have to be made to reduce the value of the assets to their recoverable amount
and provide for any further liabilities that may arise.
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

  
2.3

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:
Rental Income
Investment properties are rented to tenants under tenancy contracts. The rental income received is recognised through profit or loss on a straight-line basis over the term of the contract. Any rent-free period is spread over the period of the contract. 

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
THE SILK DISTRICT C24 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Furniture
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
THE SILK DISTRICT C24 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


Additions
51,222



At 31 March 2024

51,222



Depreciation


Charge for the period on owned assets
5,122



At 31 March 2024

5,122



Net book value



At 31 March 2024
46,100


5.


Investment property


Long term leasehold investment property

£



Valuation


Additions at cost
5,191,256



At 31 March 2024
5,191,256

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







Page 5

 
THE SILK DISTRICT C24 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Debtors

2024
£


Other debtors
2,841

Prepayments and accrued income
20,042

22,883



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
48,484

48,484



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
2,766

Other creditors
5,237,323

Accruals and deferred income
124,985

5,365,074



9.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On 24 March 2023, the company issued 100 Ordinary shares of £1 each for cash at par.


10.


Related party transactions

At 31 March 2024, the company owed £5,237,323 to J H Lau. Interest amounting to £151,369 is charged on the loan.

Page 6

 
THE SILK DISTRICT C24 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

11.


Controlling party

J H Lau is the controlling party as she owns more than 50% of the company's share capital.

 
Page 7