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REGISTERED NUMBER: 09093008 (England and Wales)















Financial Statements for the Year Ended 31 July 2024

for

Silverlining Commercial Properties
Limited

Silverlining Commercial Properties
Limited (Registered number: 09093008)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Silverlining Commercial Properties
Limited

Company Information
for the Year Ended 31 July 2024







Directors: J M Boddington
T J Boddington



Registered office: 114-120 Northgate Street
Chester
CH1 2HT



Registered number: 09093008 (England and Wales)



Senior statutory auditor: Robert Ellis FCA



Auditors: Ellis & Co (Accountants & Business Advisers) Ltd
Chartered Accountants
and Statutory Auditors
114-120 Northgate Street
Chester
CH1 2HT

Silverlining Commercial Properties
Limited (Registered number: 09093008)

Statement of Financial Position
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
Fixed assets
Investment property 4 2,280,000 2,280,000

Current assets
Debtors 5 23,000 23,000
Cash at bank 75,921 16,987
98,921 39,987
Creditors
Amounts falling due within one year 6 1,212,434 1,116,812
Net current liabilities (1,113,513 ) (1,076,825 )
Total assets less current liabilities 1,166,487 1,203,175

Creditors
Amounts falling due after more than
one year

7

(160,186

)

(245,172

)

Provisions for liabilities 9 (151,476 ) (151,476 )
Net assets 854,825 806,527

Capital and reserves
Called up share capital 1 1
Other reserves 10 658,033 658,033
Retained earnings 10 196,791 148,493
854,825 806,527

Silverlining Commercial Properties
Limited (Registered number: 09093008)

Statement of Financial Position - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





J M Boddington - Director


Silverlining Commercial Properties
Limited (Registered number: 09093008)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. Statutory information

Silverlining Commercial Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from property rental is recognised on an accruals basis.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Silverlining Commercial Properties
Limited (Registered number: 09093008)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. Accounting policies - continued

Reserves
Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative revaluation surpluses have been included in other reserves under profit and loss - not distributable. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4. Investment property
Total
£   
Fair value
At 1 August 2023
and 31 July 2024 2,280,000
Net book value
At 31 July 2024 2,280,000
At 31 July 2023 2,280,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 2,280,000

The directors consider that the value of the commercial property at 31 July 2024 was £2.28m. The investment property was valued on an open market value basis with vacant possession by Legat Owen of Chester on 4 October 2023 at this amount.

5. Debtors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Trade debtors 23,000 23,000

Silverlining Commercial Properties
Limited (Registered number: 09093008)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. Creditors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Bank loans 90,000 90,000
Trade creditors 2,289 974
Amounts owed to group undertakings 1,099,069 1,001,069
Taxation and social security 15,103 19,273
Other creditors 5,973 5,496
1,212,434 1,116,812

7. Creditors: amounts falling due after more than one year
31/7/24 31/7/23
£    £   
Bank loans 160,186 245,172

8. Secured debts

The following secured debts are included within creditors:

31/7/24 31/7/23
£    £   
Bank loans 250,186 335,172

The bank loan is secured by way of charge over the investment property.

9. Provisions for liabilities
31/7/24 31/7/23
£    £   
Deferred tax
Other timing differences 151,476 151,476

Deferred
tax
£   
Balance at 1 August 2023 151,476
Balance at 31 July 2024 151,476

10. Reserves

Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative revaluation surpluses have been included in other reserves under profit and loss - not distributable. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves.

Silverlining Commercial Properties
Limited (Registered number: 09093008)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

11. Disclosure under Section 444(5B) of the Companies Act 2006

The financial statements of the company for the year ended 31 July 2024 were audited by Ellis & Co (Accountants and Business Advisers) Limited, and the audit report was signed by Robert Ellis FCA, senior statutory auditor. The audit report was unqualified.

12. Related party disclosures

Silverlining Furniture Group Limited, a company incorporated in the United Kingdom, is the parent company of the smallest group for which accounts are prepared and of which Silverlining Commercial Properties Limited is a member. The registered office of Silverlining Furniture Group Limited is 114-120 Northgate Street, Chester, CH1 2HT.