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Registered number: 13294864










SILVER EDGE PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SILVER EDGE PROPERTY LIMITED
REGISTERED NUMBER: 13294864

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
623,920
623,920

  
623,920
623,920

Current assets
  

Debtors: amounts falling due after more than one year
 5 
1,433,312
1,117,536

Debtors: amounts falling due within one year
 5 
242,617
242,617

Cash at bank and in hand
 6 
19,787
335,563

  
1,695,716
1,695,716

Creditors: amounts falling due within one year
 7 
(4,644)
(1,500)

Net current assets
  
 
 
1,691,072
 
 
1,694,216

Total assets less current liabilities
  
2,314,992
2,318,136

  

Net assets
  
2,314,992
2,318,136


Capital and reserves
  

Called up share capital 
  
2,123,920
2,123,920

Profit and loss account
  
191,072
194,216

  
2,314,992
2,318,136


Page 1

 
SILVER EDGE PROPERTY LIMITED
REGISTERED NUMBER: 13294864
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

For the year ended 31 March 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 income and retained earnings 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 5 form part of these financial statements.

Page 2

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

1.


General information

Silver Edge Property Limited is a private company and is incorporated in England and Wales with the registered number 13294864. The address of its registered office is 8 Redwell Road, Wellingborough, Northamptonshire, United Kingdom, 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.

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

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.

 
2.4

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.

 
2.5

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.

 
2.6

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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Page 3

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

3.


Employees

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


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2023
623,920



At 31 March 2024
623,920





5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
1,123,312
1,117,536

Other debtors
310,000
-

1,433,312
1,117,536


2024
2023
£
£

Due within one year

Called up share capital not paid
242,617
242,617



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
19,787
335,563


Page 4

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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,144
-

Accruals and deferred income
1,500
1,500

4,644
1,500



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,123,920 (2023 - 2,123,920) Ordinary A shares of £1.00 each
2,123,920
2,123,920



9.


Related party transactions

The company owns 100% of the share capital of Silver Edge Developments Limited and therefore has not reported transactions with that wholly owned group member in accordance with FRS102 s33 1A.
The shareholders of the company hold a participating interest in Silver Edge Homes Limited. At 24 January 2024 the company loaned £310,000 to Silver Edge Homes Limited. At the year end date £310,000 was due from Silver Edge Homes Limited. The loan is interest free and is due for repayment on 24 January 2044 and shall be repayable within 367 days of notice given by the lender.

 
Page 5