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REGISTERED NUMBER: 11840439 (England and Wales)















SILVERBURN HOMES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024






SILVERBURN HOMES LTD (REGISTERED NUMBER: 11840439)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

SILVERBURN HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: G L Vale
Mrs A Vale





SECRETARY:





REGISTERED OFFICE: 1 Queens Drive
Ilkley
West Yorkshire
LS29 9QW





REGISTERED NUMBER: 11840439 (England and Wales)





ACCOUNTANTS: FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL

SILVERBURN HOMES LTD (REGISTERED NUMBER: 11840439)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,166 4,469
Investment property 5 713,754 713,754
716,920 718,223

CURRENT ASSETS
Debtors 6 630 650
Cash at bank 13,384 5,985
14,014 6,635
CREDITORS
Amounts falling due within one year 7 203,195 205,467
NET CURRENT LIABILITIES (189,181 ) (198,832 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

527,739

519,391

CREDITORS
Amounts falling due after more than one
year

8

508,678

508,678
NET ASSETS 19,061 10,713

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 18,961 10,613
SHAREHOLDERS' FUNDS 19,061 10,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SILVERBURN HOMES LTD (REGISTERED NUMBER: 11840439)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Mrs A Vale - Director


SILVERBURN HOMES LTD (REGISTERED NUMBER: 11840439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Silverburn Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and Fittings - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

SILVERBURN HOMES LTD (REGISTERED NUMBER: 11840439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
Fittings
£   
COST
At 1 March 2023
and 29 February 2024 6,516
DEPRECIATION
At 1 March 2023 2,047
Charge for year 1,303
At 29 February 2024 3,350
NET BOOK VALUE
At 29 February 2024 3,166
At 28 February 2023 4,469

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 713,754
NET BOOK VALUE
At 29 February 2024 713,754
At 28 February 2023 713,754

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 630 650

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security (2,791 ) 1,282
Other creditors 205,986 204,185
203,195 205,467

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 508,678 508,678

SILVERBURN HOMES LTD (REGISTERED NUMBER: 11840439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 508,678 508,678

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Mortgages 508,678 508,678

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 508,678 508,678

Paragon Bank PLC hold a fixed charge and negative pledge on Apartment A5205 Deansgate Square, Owen Street, Manchester, M15 4TW and Parking Space 496. The charge was created on 16th April 2020.

Mpowered Mortgages (trading name of Spring Financial Group limited), hold a floating charge and negative pledge on Apartment 21108, 4 Wharf End, Trafford Park, Manchester, M17 1LD. The charge was created on 5th October 2021.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

SILVERBURN HOMES LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
SILVERBURN HOMES LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL


27 January 2025