Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31332023-04-01falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13298693 2023-04-01 2024-03-31 13298693 2022-04-01 2023-03-31 13298693 2024-03-31 13298693 2023-03-31 13298693 c:Director1 2023-04-01 2024-03-31 13298693 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 13298693 d:FreeholdInvestmentProperty 2024-03-31 13298693 d:CurrentFinancialInstruments 2024-03-31 13298693 d:CurrentFinancialInstruments 2023-03-31 13298693 d:Non-currentFinancialInstruments 2024-03-31 13298693 d:Non-currentFinancialInstruments 2023-03-31 13298693 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13298693 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13298693 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 13298693 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13298693 d:ShareCapital 2024-03-31 13298693 d:ShareCapital 2023-03-31 13298693 d:RetainedEarningsAccumulatedLosses 2024-03-31 13298693 d:RetainedEarningsAccumulatedLosses 2023-03-31 13298693 d:OtherDeferredTax 2024-03-31 13298693 d:OtherDeferredTax 2023-03-31 13298693 c:FRS102 2023-04-01 2024-03-31 13298693 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13298693 c:FullAccounts 2023-04-01 2024-03-31 13298693 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13298693 d:FreeholdInvestmentProperty d:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 13298693










SILVER EDGE HOMES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SILVER EDGE HOMES LIMITED
REGISTERED NUMBER: 13298693

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
3,164,889
2,610,000

Current assets
  

Debtors: amounts falling due within one year
 5 
79,168
18,969

Cash at bank and in hand
 6 
46,329
266,496

  
125,497
285,465

Creditors: amounts falling due within one year
 7 
(229,039)
(183,478)

Net current (liabilities)/assets
  
 
 
(103,542)
 
 
101,987

Creditors: amounts falling due after more than one year
 8 
(808,499)
(498,499)

Provisions for liabilities
  

Deferred tax
 9 
(69,637)
(69,637)

  
 
 
(69,637)
 
 
(69,637)

Net assets
  
2,183,211
2,143,851


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,183,210
2,143,850

  
2,183,211
2,143,851


Page 1

 
SILVER EDGE HOMES LIMITED
REGISTERED NUMBER: 13298693
    
BALANCE SHEET (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: 




................................................
N E H Higgins
Director

Date: 27 January 2025

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

Page 2

 
SILVER EDGE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Silver Edge Homes Limited is a private company limited by shares, incorporated in England and Wales with the registered number 13298693. The registered office is 8 Redwell Road, Wellingborough, Northants, NN8 5AZ..

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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.

Page 3

 
SILVER EDGE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the Directors 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.

 
2.5

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.

 
2.6

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.

 
2.7

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

 
SILVER EDGE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
2,610,000


Additions at cost
554,889



At 31 March 2024
3,164,889

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







5.


Debtors

2024
2023
£
£


Other debtors
79,168
18,969



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
46,329
266,496


Page 5

 
SILVER EDGE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
229,039
183,478



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
498,499
498,499

Other creditors
310,000
-

808,499
498,499



9.


Deferred taxation




2024


£






At beginning of year
69,637



At end of year
69,637

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Investment property revaluations
69,637
69,637

Page 6

 
SILVER EDGE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Related party transactions

The company is a wholly owned subsidiary of Silver Edge Limited and therefore has not reported transactions with wholly owned group members in accordance with FRS102 s33 1A.
The shareholders of the company hold a participating interest in Silver Edge Property Limited. At 24 January 2024 the company received a loan of £310,000 from Silver Edge Property Limited. At the year end date £310,000 was owed to Silver Edge Property Limited. The loan is interest free and is due for repayment on 24 January 2044 and and shall be repayable within 367 days of notice given by the lender.
The shareholders of the company hold a participiating interest in Silver Edge Developments Limited. At 31 March 2024 £79,168 (2023 - £18,969) was owed to Silver Edge Developments Limited; this balance was in respects of rents relating to Silver Edge Developments Limited that were paid into Silver Edge Homes Limited and certain expenses paid on their behalf.

 
Page 7