Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Anthony John Sinclair 15/10/1997 Karen Patrice Sinclair 15/10/1997 22 March 2025 The principal activity of the Company during the financial year was that of property investment and management. 03440828 2024-12-31 03440828 bus:Director1 2024-12-31 03440828 bus:Director2 2024-12-31 03440828 2023-12-31 03440828 core:CurrentFinancialInstruments 2024-12-31 03440828 core:CurrentFinancialInstruments 2023-12-31 03440828 core:Non-currentFinancialInstruments 2024-12-31 03440828 core:Non-currentFinancialInstruments 2023-12-31 03440828 core:ShareCapital 2024-12-31 03440828 core:ShareCapital 2023-12-31 03440828 core:RevaluationReserve 2024-12-31 03440828 core:RevaluationReserve 2023-12-31 03440828 core:RetainedEarningsAccumulatedLosses 2024-12-31 03440828 core:RetainedEarningsAccumulatedLosses 2023-12-31 03440828 core:PlantMachinery 2023-12-31 03440828 core:FurnitureFittings 2023-12-31 03440828 core:PlantMachinery 2024-12-31 03440828 core:FurnitureFittings 2024-12-31 03440828 2024-01-01 2024-12-31 03440828 bus:FilletedAccounts 2024-01-01 2024-12-31 03440828 bus:SmallEntities 2024-01-01 2024-12-31 03440828 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03440828 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03440828 bus:Director1 2024-01-01 2024-12-31 03440828 bus:Director2 2024-01-01 2024-12-31 03440828 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 03440828 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 03440828 2023-01-01 2023-12-31 03440828 core:PlantMachinery 2024-01-01 2024-12-31 03440828 core:FurnitureFittings 2024-01-01 2024-12-31 03440828 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 03440828 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 03440828 (England and Wales)

BRIGHTWATER ESTATES LIMITED

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

BRIGHTWATER ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BRIGHTWATER ESTATES LIMITED

BALANCE SHEET

As at 31 December 2024
BRIGHTWATER ESTATES LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,753 3,399
Investment property 4 7,147,340 7,329,874
7,149,093 7,333,273
Current assets
Debtors 5 51,428 27,198
Cash at bank and in hand 122,496 117,708
173,924 144,906
Creditors: amounts falling due within one year 6 ( 166,371) ( 214,377)
Net current assets/(liabilities) 7,553 (69,471)
Total assets less current liabilities 7,156,646 7,263,802
Creditors: amounts falling due after more than one year 7 ( 3,798,721) ( 3,748,841)
Provision for liabilities ( 330,750) ( 325,421)
Net assets 3,027,175 3,189,540
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 2,379,199 2,451,736
Profit and loss account 647,876 737,704
Total shareholder's funds 3,027,175 3,189,540

For the financial year ending 31 December 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 BrightWater Estates Limited (registered number: 03440828) were approved and authorised for issue by the Board of Directors on 22 March 2025. They were signed on its behalf by:

Anthony John Sinclair
Director
BRIGHTWATER ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BRIGHTWATER ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

BrightWater Estates 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 principal place of business is Shop 6 Parkland Place, 39-41 Old Milton Road, New Milton, Hampshire, BH25 6DJ.

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 comprises the fair value of the consideration received or receivable for the rental of residential and commercial property. The company recognises revenue on a monthly basis net of value added tax.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Fixtures and fittings 6 years straight line

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.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 January 2024 1,350 11,712 13,062
At 31 December 2024 1,350 11,712 13,062
Accumulated depreciation
At 01 January 2024 1,350 8,313 9,663
Charge for the financial year 0 1,646 1,646
At 31 December 2024 1,350 9,959 11,309
Net book value
At 31 December 2024 0 1,753 1,753
At 31 December 2023 0 3,399 3,399

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 7,329,874
Disposals (182,534)
As at 31 December 2024 7,147,340

Valuation

The Investment Properties class of fixed assets was revalued on 31 December 2024 by the Director who is internal to the company. The basis of this valuation was that the directors consider that the current market value of the properties is not materially different from £7,147,340. This class of asset has a current value of £7,147,340 (2023: £7,329,874) and a carrying amount at historical cost of £4,437,392 (2023: £4,552,717). The depreciation on this historic cost is £nil (2023: £nil).

5. Debtors

2024 2023
£ £
Trade debtors 21,661 9,449
Other debtors 29,767 17,749
51,428 27,198

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 2,355 9
Other creditors 164,016 214,368
166,371 214,377

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

2024 2023
£ £
Other creditors 3,798,721 3,748,841

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

8. Ultimate controlling party

The company's immediate parent is BrightWater Investment Holdings Limited, incorporated in the British Virgin Islands.

The ultimate controlling party is Mr A J Sinclair.