Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 12110433 Mr Daniel Tai Sen Choy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12110433 2023-07-31 12110433 2024-07-31 12110433 2023-08-01 2024-07-31 12110433 frs-core:CurrentFinancialInstruments 2024-07-31 12110433 frs-core:Non-currentFinancialInstruments 2024-07-31 12110433 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 12110433 frs-core:MotorVehicles 2024-07-31 12110433 frs-core:MotorVehicles 2023-08-01 2024-07-31 12110433 frs-core:MotorVehicles 2023-07-31 12110433 frs-core:ShareCapital 2024-07-31 12110433 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 12110433 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12110433 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 12110433 frs-bus:SmallEntities 2023-08-01 2024-07-31 12110433 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12110433 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12110433 frs-bus:Director1 2023-08-01 2024-07-31 12110433 frs-countries:EnglandWales 2023-08-01 2024-07-31 12110433 2022-07-31 12110433 2023-07-31 12110433 2022-08-01 2023-07-31 12110433 frs-core:CurrentFinancialInstruments 2023-07-31 12110433 frs-core:Non-currentFinancialInstruments 2023-07-31 12110433 frs-core:ShareCapital 2023-07-31 12110433 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 12110433
Silver Summit Property Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Onpoint Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12110433
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 1,500
Investment Properties 5 549,063 540,001
549,063 541,501
CURRENT ASSETS
Debtors 6 18,485 18,485
Cash at bank and in hand 5,837 7,751
24,322 26,236
Creditors: Amounts Falling Due Within One Year 7 (132,011 ) (129,884 )
NET CURRENT ASSETS (LIABILITIES) (107,689 ) (103,648 )
TOTAL ASSETS LESS CURRENT LIABILITIES 441,374 437,853
Creditors: Amounts Falling Due After More Than One Year 8 (337,388 ) (337,388 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (18,485 ) (18,485 )
NET ASSETS 85,501 81,980
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 85,401 81,880
SHAREHOLDERS' FUNDS 85,501 81,980
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Tai Sen Choy
Director
27/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Silver Summit Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12110433 . The registered office is 67 Belle Green Lane, Cudworth, Barnsley, S72 8LU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Motor Vehicles 25% Depreciation
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 August 2023 2,000
Disposals (2,000 )
As at 31 July 2024 -
Depreciation
As at 1 August 2023 500
Provided during the period 500
Disposals (1,000 )
As at 31 July 2024 -
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 1,500
5. Investment Property
2024
£
Fair Value
As at 1 August 2023 540,001
Additions 9,062
As at 31 July 2024 549,063
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 18,485 18,485
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 48
Other loans 129,618 127,618
Other creditors 2,393 2,218
132,011 129,884
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 337,388 337,388
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4