Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Adelle Sim 19/10/2024 30/05/2014 Roderick Michael Sim 29/09/2011 28 March 2025 The principal activity of the Company during the financial year was the operation and management of a holiday lodge park and onsite event space. SC408364 2024-09-30 SC408364 bus:Director1 2024-09-30 SC408364 bus:Director2 2024-09-30 SC408364 2023-09-30 SC408364 core:CurrentFinancialInstruments 2024-09-30 SC408364 core:CurrentFinancialInstruments 2023-09-30 SC408364 core:Non-currentFinancialInstruments 2024-09-30 SC408364 core:Non-currentFinancialInstruments 2023-09-30 SC408364 core:ShareCapital 2024-09-30 SC408364 core:ShareCapital 2023-09-30 SC408364 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC408364 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC408364 core:PlantMachinery 2023-09-30 SC408364 core:Vehicles 2023-09-30 SC408364 core:FurnitureFittings 2023-09-30 SC408364 core:PlantMachinery 2024-09-30 SC408364 core:Vehicles 2024-09-30 SC408364 core:FurnitureFittings 2024-09-30 SC408364 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-09-30 SC408364 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-09-30 SC408364 2022-09-30 SC408364 bus:OrdinaryShareClass1 2024-09-30 SC408364 core:WithinOneYear 2024-09-30 SC408364 core:WithinOneYear 2023-09-30 SC408364 core:BetweenOneFiveYears 2024-09-30 SC408364 core:BetweenOneFiveYears 2023-09-30 SC408364 core:ParentEntities 2024-09-30 SC408364 core:ParentEntities 2023-09-30 SC408364 core:OtherRelatedParties 2024-09-30 SC408364 core:OtherRelatedParties 2023-09-30 SC408364 core:KeyManagementPersonnel 2024-09-30 SC408364 core:KeyManagementPersonnel 2023-09-30 SC408364 2023-10-01 2024-09-30 SC408364 bus:FilletedAccounts 2023-10-01 2024-09-30 SC408364 bus:SmallEntities 2023-10-01 2024-09-30 SC408364 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC408364 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC408364 bus:Director1 2023-10-01 2024-09-30 SC408364 bus:Director2 2023-10-01 2024-09-30 SC408364 core:PlantMachinery 2023-10-01 2024-09-30 SC408364 core:PlantMachinery core:TopRangeValue 2023-10-01 2024-09-30 SC408364 core:Vehicles 2023-10-01 2024-09-30 SC408364 core:FurnitureFittings core:TopRangeValue 2023-10-01 2024-09-30 SC408364 2022-10-01 2023-09-30 SC408364 core:FurnitureFittings 2023-10-01 2024-09-30 SC408364 core:CurrentFinancialInstruments 2023-10-01 2024-09-30 SC408364 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 SC408364 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 SC408364 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC408364 (Scotland)

SILVERWOOD MANAGEMENT LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

SILVERWOOD MANAGEMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024

Contents

SILVERWOOD MANAGEMENT LTD

BALANCE SHEET

AS AT 30 SEPTEMBER 2024
SILVERWOOD MANAGEMENT LTD

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 78,593 73,738
78,593 73,738
Current assets
Stocks 4 30,000 12,000
Debtors 5 783,722 475,321
Cash at bank and in hand 6 244,847 198,348
1,058,569 685,669
Creditors: amounts falling due within one year 7 ( 869,471) ( 532,413)
Net current assets 189,098 153,256
Total assets less current liabilities 267,691 226,994
Creditors: amounts falling due after more than one year 8 ( 135,496) ( 197,488)
Provision for liabilities 9, 10 ( 6,339) 0
Net assets 125,856 29,506
Capital and reserves
Called-up share capital 11 1 1
Profit and loss account 125,855 29,505
Total shareholder's funds 125,856 29,506

For the financial year ending 30 September 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 Silverwood Management Ltd (registered number: SC408364) were approved and authorised for issue by the Director on 28 March 2025. They were signed on its behalf by:

Roderick Michael Sim
Director
SILVERWOOD MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
SILVERWOOD MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 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

Silverwood Management Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Silverwood, Inchcoonans, Errol, PH2 7RB, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 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.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 Balance Sheet date.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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, 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 25 % reducing balance
3 years straight line
Vehicles 2 - 20 % reducing balance
Fixtures and fittings 10 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.

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.

Leases

The Company as lessee
Assets held under finance leases and hire purchase contracts, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, and where applicable, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 18 14

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 October 2023 28,400 45,195 22,997 96,592
Additions 20,573 0 0 20,573
At 30 September 2024 48,973 45,195 22,997 117,165
Accumulated depreciation
At 01 October 2023 7,027 14,485 1,342 22,854
Charge for the financial year 8,196 5,222 2,300 15,718
At 30 September 2024 15,223 19,707 3,642 38,572
Net book value
At 30 September 2024 33,750 25,488 19,355 78,593
At 30 September 2023 21,373 30,710 21,655 73,738

4. Stocks

2024 2023
£ £
Stocks 30,000 12,000

5. Debtors

2024 2023
£ £
Trade debtors 0 33,811
Amounts owed by Group undertakings (note 13) 735,887 428,602
Amounts owed by related parties (note 13) 23,161 0
Deferred tax asset 0 11,696
Other debtors 24,674 1,212
783,722 475,321

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 244,847 198,348

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 20,942 20,214
Trade creditors 20,000 1,761
Other taxation and social security 514,997 309,927
Obligations under finance leases and hire purchase contracts (secured) 26,749 17,629
Other creditors 286,783 182,882
869,471 532,413

Bank loans include amounts advanced under the bounce back loan scheme which is covered by a government backed guarantee.

Obligations under hire purchase contracts and finance leases are secured over the related assets.

Loans included in other creditors totalling £8,312 (2023 - £10,278) are unsecured.

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

2024 2023
£ £
Bank loans 26,155 47,402
Obligations under finance leases and hire purchase contracts 38,811 48,188
Other creditors 70,530 101,898
135,496 197,488

Bank loans include amounts advanced under the bounce back loan scheme which is covered by a government backed guarantee.

Obligations under hire purchase contracts and finance leases are secured over the related assets.

Loans included in other creditors totalling £nil (2023 - £8,312) are unsecured.

9. Provision for liabilities

2024 2023
£ £
Deferred tax 6,339 0

10. Deferred tax

2024 2023
£ £
At the beginning of financial year 11,696 1,853
(Charged)/credited to the Statement of Income and Retained Earnings ( 18,035) 9,843
At the end of financial year ( 6,339) 11,696

11. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each 1 1

12. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 124,428 132,138
between one and five years 200,000 342,291
324,428 474,429

13. Related party transactions

Transactions with group companies

Amounts owed by Group undertakings

2024 2023
£ £
Loan 735,887 428,602

Group company loans are unsecured, interest free and repayable on demand

Transactions with related parties or connected persons

Amounts owed by related parties

2024 2023
£ £
Loan 23,161 0

Connected company loans are unsecured, interest free and repayable on demand

Transactions with the entity’s director (or members of its governing body)

Amounts owed by director

2024 2023
£ £
Directors Loan 24,674 0

Advances have been made in the year to a directors totalling £63,165 (which includes interest of £143 at a rate of 2.25%) and £38,491 has been repaid. The loan is unsecured and has been repaid within 9 months of the year end.