Silverfin false false 31/05/2024 01/06/2023 31/05/2024 B Jesty 15/03/2022 J Reynolds 21/05/2021 14 February 2025 The principal activity of the Company during the financial year was letting and operating of real estate. 13412734 2024-05-31 13412734 bus:Director1 2024-05-31 13412734 bus:Director2 2024-05-31 13412734 2023-05-31 13412734 core:CurrentFinancialInstruments 2024-05-31 13412734 core:CurrentFinancialInstruments 2023-05-31 13412734 core:Non-currentFinancialInstruments 2024-05-31 13412734 core:Non-currentFinancialInstruments 2023-05-31 13412734 core:ShareCapital 2024-05-31 13412734 core:ShareCapital 2023-05-31 13412734 core:RetainedEarningsAccumulatedLosses 2024-05-31 13412734 core:RetainedEarningsAccumulatedLosses 2023-05-31 13412734 core:PlantMachinery 2023-05-31 13412734 core:PlantMachinery 2024-05-31 13412734 core:CurrentFinancialInstruments core:Secured 2024-05-31 13412734 bus:OrdinaryShareClass1 2024-05-31 13412734 2023-06-01 2024-05-31 13412734 bus:FilletedAccounts 2023-06-01 2024-05-31 13412734 bus:SmallEntities 2023-06-01 2024-05-31 13412734 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 13412734 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13412734 bus:Director1 2023-06-01 2024-05-31 13412734 bus:Director2 2023-06-01 2024-05-31 13412734 core:PlantMachinery 2023-06-01 2024-05-31 13412734 2022-06-01 2023-05-31 13412734 core:CurrentFinancialInstruments 2023-06-01 2024-05-31 13412734 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 13412734 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 13412734 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13412734 (England and Wales)

SILVERSANDS HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

SILVERSANDS HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

SILVERSANDS HOMES LIMITED

BALANCE SHEET

As at 31 May 2024
SILVERSANDS HOMES LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 28,900 1,807
Investment property 4 525,280 525,280
554,180 527,087
Current assets
Debtors 5 83,670 9,630
Cash at bank and in hand 1,859 659
85,529 10,289
Creditors: amounts falling due within one year 6 ( 86,445) ( 273,447)
Net current liabilities (916) (263,158)
Total assets less current liabilities 553,264 263,929
Creditors: amounts falling due after more than one year 7 ( 563,537) ( 266,908)
Net liabilities ( 10,273) ( 2,979)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 10,373 ) ( 3,079 )
Total shareholders' deficit ( 10,273) ( 2,979)

For the financial year ending 31 May 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 Silversands Homes Limited (registered number: 13412734) were approved and authorised for issue by the Board of Directors on 14 February 2025. They were signed on its behalf by:

B Jesty
Director
SILVERSANDS HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
SILVERSANDS HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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

Silversands Homes 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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

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 directors have assessed the Balance Sheet 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.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet 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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 June 2023 2,097 2,097
Additions 28,476 28,476
At 31 May 2024 30,573 30,573
Accumulated depreciation
At 01 June 2023 290 290
Charge for the financial year 1,383 1,383
At 31 May 2024 1,673 1,673
Net book value
At 31 May 2024 28,900 28,900
At 31 May 2023 1,807 1,807

4. Investment property

Investment property
£
Valuation
As at 01 June 2023 525,280
As at 31 May 2024 525,280

5. Debtors

2024 2023
£ £
Other debtors 83,670 9,630

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 4,899 6,427
Other creditors 81,546 267,020
86,445 273,447

The bank loans are secured on freehold properties of the Company.

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

2024 2023
£ £
Bank loans (secured) 263,537 266,908
Other creditors 300,000 0
563,537 266,908

The bank loans are secured on freehold properties of the Company.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.10 each 100 100