Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mark Jonathan Daniel Cox 09/03/2020 Lance Downes 09/03/2020 Gary Michael Moore 09/03/2020 22 January 2025 The principal activity of the Company during the financial period was the development and sale of real estate and property consultancy. 12505111 2024-04-30 12505111 bus:Director1 2024-04-30 12505111 bus:Director2 2024-04-30 12505111 bus:Director3 2024-04-30 12505111 2023-04-30 12505111 core:CurrentFinancialInstruments 2024-04-30 12505111 core:CurrentFinancialInstruments 2023-04-30 12505111 core:Non-currentFinancialInstruments 2024-04-30 12505111 core:Non-currentFinancialInstruments 2023-04-30 12505111 core:ShareCapital 2024-04-30 12505111 core:ShareCapital 2023-04-30 12505111 core:RetainedEarningsAccumulatedLosses 2024-04-30 12505111 core:RetainedEarningsAccumulatedLosses 2023-04-30 12505111 core:ImmediateParent core:CurrentFinancialInstruments 2024-04-30 12505111 core:ImmediateParent core:CurrentFinancialInstruments 2023-04-30 12505111 core:Non-currentFinancialInstruments core:Secured 2024-04-30 12505111 bus:OrdinaryShareClass1 2024-04-30 12505111 2023-05-01 2024-04-30 12505111 bus:FilletedAccounts 2023-05-01 2024-04-30 12505111 bus:SmallEntities 2023-05-01 2024-04-30 12505111 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 12505111 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12505111 bus:Director1 2023-05-01 2024-04-30 12505111 bus:Director2 2023-05-01 2024-04-30 12505111 bus:Director3 2023-05-01 2024-04-30 12505111 2022-05-01 2023-04-30 12505111 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 12505111 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 12505111 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12505111 (England and Wales)

EXPROP LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

EXPROP LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

EXPROP LTD

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
EXPROP LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Current assets
Stocks 917,603 44,564
Debtors 3 9,088 153,761
Cash at bank and in hand 918 5,363
927,609 203,688
Creditors: amounts falling due within one year 4 ( 47,095) ( 184,889)
Net current assets 880,514 18,799
Total assets less current liabilities 880,514 18,799
Creditors: amounts falling due after more than one year 5 ( 825,367) ( 21,667)
Net assets/(liabilities) 55,147 ( 2,868)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 55,047 ( 2,968 )
Total shareholders' funds/(deficit) 55,147 ( 2,868)

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Exprop Ltd (registered number: 12505111) were approved and authorised for issue by the Board of Directors on 22 January 2025. They were signed on its behalf by:

Mark Jonathan Daniel Cox
Director
EXPROP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
EXPROP LTD

NOTES TO THE 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

Exprop Ltd (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 Leatside Challabrook Lane, Bovey Tracey, Newton Abbot, TQ13 9DF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Debtors

2024 2023
£ £
Prepayments 0 796
VAT recoverable 1,088 125
Corporation tax 0 840
Other debtors 8,000 152,000
9,088 153,761

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 507 90
Amounts owed to Group undertakings 0 72,000
Amounts owed to Parent undertakings 16,000 30,000
Amounts owed to associates 0 72,000
Accruals 1,249 799
Corporation tax 19,339 0
47,095 184,889

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

2024 2023
£ £
Bank loans (secured £ 813,700) 825,367 21,667

A bank loan of £813,700 is secured via a floating charge on the property and undertaking of the company.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100