Silverfin false false 30/04/2024 01/05/2023 30/04/2024 B J Banks 06/02/2024 18/06/2021 M Martin 18/06/2021 27 December 2024 The principal activity of the company is that of property rental and development. 13463916 2024-04-30 13463916 bus:Director1 2024-04-30 13463916 bus:Director2 2024-04-30 13463916 2023-04-30 13463916 core:CurrentFinancialInstruments 2024-04-30 13463916 core:CurrentFinancialInstruments 2023-04-30 13463916 core:ShareCapital 2024-04-30 13463916 core:ShareCapital 2023-04-30 13463916 core:RetainedEarningsAccumulatedLosses 2024-04-30 13463916 core:RetainedEarningsAccumulatedLosses 2023-04-30 13463916 core:ShareCapital 2022-04-30 13463916 core:RetainedEarningsAccumulatedLosses 2022-04-30 13463916 2022-04-30 13463916 bus:OrdinaryShareClass1 2024-04-30 13463916 2023-05-01 2024-04-30 13463916 bus:AbridgedAccounts 2023-05-01 2024-04-30 13463916 bus:SmallEntities 2023-05-01 2024-04-30 13463916 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13463916 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13463916 bus:Director1 2023-05-01 2024-04-30 13463916 bus:Director2 2023-05-01 2024-04-30 13463916 core:ShareCapital 2022-05-01 2023-04-30 13463916 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 13463916 2022-05-01 2023-04-30 13463916 core:ShareCapital 2023-05-01 2024-04-30 13463916 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 13463916 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 13463916 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13463916 (England and Wales)

SOUTHEY AYLWARD MANAGEMENT LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 30 April 2024

SOUTHEY AYLWARD MANAGEMENT LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

SOUTHEY AYLWARD MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
SOUTHEY AYLWARD MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 4,485,595 4,173,583
4,485,595 4,173,583
Current assets
Debtors 98,822 122,656
Cash at bank and in hand 69,683 64,102
168,505 186,758
Creditors: amounts falling due within one year ( 3,879,773) ( 4,206,405)
Net current liabilities (3,711,268) (4,019,647)
Total assets less current liabilities 774,327 153,936
Provision for liabilities ( 5,818) 0
Net assets 768,509 153,936
Capital and reserves
Called-up share capital 4 470,000 200
Profit and loss account 298,509 153,736
Total shareholder's funds 768,509 153,936

For the financial year ending 30 April 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 Southey Aylward Management Limited (registered number: 13463916) were approved and authorised for issue by the Director on 27 December 2024. They were signed on its behalf by:

M Martin
Director
SOUTHEY AYLWARD MANAGEMENT LIMITED

STATEMENT OF CHANGES IN EQUITY

For the financial year ended 30 April 2024
SOUTHEY AYLWARD MANAGEMENT LIMITED

STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 30 April 2024
Called-up share capital Profit and loss account Total
£ £ £
At 01 May 2022 198 0 198
Profit for the financial year 0 153,736 153,736
Total comprehensive income 0 153,736 153,736
Issue of share capital 2 0 2
At 30 April 2023 200 153,736 153,936
At 01 May 2023 200 153,736 153,936
Profit for the financial year 0 144,773 144,773
Total comprehensive income 0 144,773 144,773
Issue of share capital 469,800 0 469,800
At 30 April 2024 470,000 298,509 768,509
SOUTHEY AYLWARD MANAGEMENT LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
SOUTHEY AYLWARD MANAGEMENT LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Southey Aylward Management 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 C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom. The principal place of business is Construction & Real Estate Ltd, Mill Farm, Station Road, Flax Bourton, Bristol, BS48 1NG.

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 £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 May 2023 4,173,583
Additions 312,012
As at 30 April 2024 4,485,595

4. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
470,000 Ordinary shares of £ 1.00 each (2023: 200 shares of £ 1.00 each) 470,000 200

During the year, Ordinary shares of £1.00 each were allotted with an aggregate nominal value of £469,800.. The consideration was by a conversion of debt to equity.

5. Financial commitments

Other financial commitments

2024 2023
£ £
Commitments in respect of future borrowings 2,200,000 0

The borrowings are secured by fixed and floating charges dated 14 June 2024 over all property or undertaking of the company.