Company registration number 06037850 (England and Wales)
SILKSTEAD DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SILKSTEAD DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SILKSTEAD DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,418
2,730
Current assets
Debtors
4
1,038,748
931,338
Cash at bank and in hand
81,313
36,030
1,120,061
967,368
Creditors: amounts falling due within one year
5
(581,613)
(535,627)
Net current assets
538,448
431,741
Total assets less current liabilities
565,866
434,471
Creditors: amounts falling due after more than one year
6
(20,076)
(24,621)
Provisions for liabilities
(6,855)
(683)
Net assets
538,935
409,167
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
538,933
409,165
Total equity
538,935
409,167

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

SILKSTEAD DEVELOPMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 May 2025 and are signed on its behalf by:
Mr J Piper
Director
Company Registration No. 06037850
SILKSTEAD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Silkstead Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Silkstead House, Silkstead Lane, Hursley, Winchester, Hampshire, United Kingdom, SO21 2LG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
20% reducing balance
Computers
33% reducing balance
Motor vehicles
20% reducing balance

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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SILKSTEAD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. The company considers all its financial instruments to be basic.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SILKSTEAD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
1
40,830
40,831
Additions
-
0
30,722
30,722
Disposals
-
0
(23,566)
(23,566)
At 31 December 2024
1
47,986
47,987
Depreciation and impairment
At 1 January 2024
-
0
38,101
38,101
Depreciation charged in the year
-
0
5,249
5,249
Eliminated in respect of disposals
-
0
(22,781)
(22,781)
At 31 December 2024
-
0
20,569
20,569
Carrying amount
At 31 December 2024
1
27,417
27,418
At 31 December 2023
1
2,729
2,730
SILKSTEAD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
852,755
854,265
Other debtors
185,993
77,073
1,038,748
931,338

Included within 'Other debtors' is amounts totalling £183,000 (2023 - £75,000) owed by Silkstead Investments Limited, a company connected with the directors.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,545
4,546
Trade creditors
1,569
3,906
Taxation and social security
85,466
8,509
Other creditors
490,033
518,666
581,613
535,627

Included within 'Other creditors' is amounts totalling £484,567 (2023 - £512,386) due to the directors.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,076
24,621
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
2024-12-312024-01-01falsefalsefalse13 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr J PiperMrs H PiperMrs H Piper060378502024-01-012024-12-31060378502024-12-31060378502023-12-3106037850core:LandBuildings2024-12-3106037850core:OtherPropertyPlantEquipment2024-12-3106037850core:LandBuildings2023-12-3106037850core:OtherPropertyPlantEquipment2023-12-3106037850core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3106037850core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106037850core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3106037850core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3106037850core:CurrentFinancialInstruments2024-12-3106037850core:CurrentFinancialInstruments2023-12-3106037850core:ShareCapital2024-12-3106037850core:ShareCapital2023-12-3106037850core:RetainedEarningsAccumulatedLosses2024-12-3106037850core:RetainedEarningsAccumulatedLosses2023-12-3106037850core:ShareCapitalOrdinaryShareClass12024-12-3106037850core:ShareCapitalOrdinaryShareClass12023-12-3106037850bus:Director12024-01-012024-12-3106037850core:LandBuildingscore:OwnedOrFreeholdAssets2024-01-012024-12-3106037850core:PlantMachinery2024-01-012024-12-3106037850core:ComputerEquipment2024-01-012024-12-3106037850core:MotorVehicles2024-01-012024-12-31060378502023-01-012023-12-3106037850core:LandBuildings2023-12-3106037850core:OtherPropertyPlantEquipment2023-12-31060378502023-12-3106037850core:LandBuildings2024-01-012024-12-3106037850core:OtherPropertyPlantEquipment2024-01-012024-12-3106037850core:WithinOneYear2024-12-3106037850core:WithinOneYear2023-12-3106037850core:Non-currentFinancialInstruments2024-12-3106037850core:Non-currentFinancialInstruments2023-12-3106037850bus:OrdinaryShareClass12024-01-012024-12-3106037850bus:OrdinaryShareClass12024-12-3106037850bus:OrdinaryShareClass12023-12-3106037850bus:PrivateLimitedCompanyLtd2024-01-012024-12-3106037850bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3106037850bus:FRS1022024-01-012024-12-3106037850bus:AuditExemptWithAccountantsReport2024-01-012024-12-3106037850bus:Director22024-01-012024-12-3106037850bus:CompanySecretary12024-01-012024-12-3106037850bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP