Silverfin false false 31/03/2024 01/04/2023 31/03/2024 A A Trup 14/08/1997 14 March 2025 The principal activity of the Company during the financial year was that of property investment. 01423096 2024-03-31 01423096 bus:Director1 2024-03-31 01423096 2023-03-31 01423096 core:CurrentFinancialInstruments 2024-03-31 01423096 core:CurrentFinancialInstruments 2023-03-31 01423096 core:Non-currentFinancialInstruments 2024-03-31 01423096 core:Non-currentFinancialInstruments 2023-03-31 01423096 core:ShareCapital 2024-03-31 01423096 core:ShareCapital 2023-03-31 01423096 core:OtherCapitalReserve 2024-03-31 01423096 core:OtherCapitalReserve 2023-03-31 01423096 core:RetainedEarningsAccumulatedLosses 2024-03-31 01423096 core:RetainedEarningsAccumulatedLosses 2023-03-31 01423096 core:InvestmentPropertyIncludedWithinPPE 2023-03-31 01423096 core:InvestmentPropertyIncludedWithinPPE 2024-03-31 01423096 bus:OrdinaryShareClass1 2024-03-31 01423096 2023-04-01 2024-03-31 01423096 bus:FilletedAccounts 2023-04-01 2024-03-31 01423096 bus:SmallEntities 2023-04-01 2024-03-31 01423096 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01423096 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01423096 bus:Director1 2023-04-01 2024-03-31 01423096 2022-04-01 2023-03-31 01423096 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 01423096 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 01423096 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01423096 (England and Wales)

DEBMILL LIMITED

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

DEBMILL LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DEBMILL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
DEBMILL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 273,255 273,255
273,255 273,255
Current assets
Debtors
- due within one year 4 263,892 249,906
- due after more than one year 4 116,923 184,271
Cash at bank and in hand 38,571 47,678
419,386 481,855
Creditors: amounts falling due within one year 5 ( 112,976) ( 132,539)
Net current assets 306,410 349,316
Total assets less current liabilities 579,665 622,571
Creditors: amounts falling due after more than one year 6 ( 4,197) ( 6,333)
Net assets 575,468 616,238
Capital and reserves
Called-up share capital 7 50 50
Other reserves 155,940 155,940
Profit and loss account 419,478 460,248
Total shareholder's funds 575,468 616,238

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Debmill Limited (registered number: 01423096) were approved and authorised for issue by the Director. They were signed on its behalf by:

A A Trup
Director

14 March 2025

DEBMILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DEBMILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Debmill 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 Elscot House, Arcadia Avenue, Finchley, N3 2JU, 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 £.

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.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings 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.

2. Employees

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

3. Tangible assets

Investment property Total
£ £
Cost
At 01 April 2023 273,255 273,255
At 31 March 2024 273,255 273,255
Accumulated depreciation
At 01 April 2023 0 0
At 31 March 2024 0 0
Net book value
At 31 March 2024 273,255 273,255
At 31 March 2023 273,255 273,255

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 9,664 8,539
Corporation tax 65,400 60,360
Other debtors 188,828 181,007
263,892 249,906
Debtors: amounts falling due after more than one year
Other debtors 116,923 184,271

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,051 9,627
Taxation and social security 38,867 54,006
Other creditors 73,058 68,906
112,976 132,539

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

2024 2023
£ £
Bank loans 4,197 6,333

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50

8. Related party transactions

Included within other debtors is a balance of £132,438 (2023: £124,617) owed by the director.
This balance is unsecured and interest is charged at the official rate determined by HM Revenue and customs.