Silverfin false false 31/08/2024 01/09/2023 31/08/2024 J M Luce 05/02/2015 G I Maspero 07/05/1997 S J Mullins 05/02/2015 27 May 2025 The principal activity of the company during the year is that of classic car investment. During the prior year the company disposed of its investment properties. 03332489 2024-08-31 03332489 bus:Director1 2024-08-31 03332489 bus:Director2 2024-08-31 03332489 bus:Director3 2024-08-31 03332489 2023-08-31 03332489 core:CurrentFinancialInstruments 2024-08-31 03332489 core:CurrentFinancialInstruments 2023-08-31 03332489 core:ShareCapital 2024-08-31 03332489 core:ShareCapital 2023-08-31 03332489 core:RetainedEarningsAccumulatedLosses 2024-08-31 03332489 core:RetainedEarningsAccumulatedLosses 2023-08-31 03332489 core:CostValuation 2023-08-31 03332489 core:AdditionsToInvestments 2024-08-31 03332489 core:DisposalsRepaymentsInvestments 2024-08-31 03332489 core:CostValuation 2024-08-31 03332489 bus:OrdinaryShareClass1 2024-08-31 03332489 core:WithinOneYear 2024-08-31 03332489 core:WithinOneYear 2023-08-31 03332489 core:BetweenOneFiveYears 2024-08-31 03332489 core:BetweenOneFiveYears 2023-08-31 03332489 2023-09-01 2024-08-31 03332489 bus:FilletedAccounts 2023-09-01 2024-08-31 03332489 bus:SmallEntities 2023-09-01 2024-08-31 03332489 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 03332489 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03332489 bus:Director1 2023-09-01 2024-08-31 03332489 bus:Director2 2023-09-01 2024-08-31 03332489 bus:Director3 2023-09-01 2024-08-31 03332489 2022-09-01 2023-08-31 03332489 core:CurrentFinancialInstruments 2023-09-01 2024-08-31 03332489 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 03332489 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03332489 (England and Wales)

SILVERTON INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

SILVERTON INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

SILVERTON INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2024
SILVERTON INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 4,119,324 2,421,651
4,119,324 2,421,651
Current assets
Stocks 551,283 551,283
Debtors 4 3,423,431 3,676,699
Cash at bank and in hand 3,546 20,934
3,978,260 4,248,916
Creditors: amounts falling due within one year 5 ( 3,662,204) ( 1,816,189)
Net current assets 316,056 2,432,727
Total assets less current liabilities 4,435,380 4,854,378
Net assets 4,435,380 4,854,378
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 4,435,280 4,854,278
Total shareholder's funds 4,435,380 4,854,378

For the financial year ending 31 August 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 Silverton Investments Limited (registered number: 03332489) were approved and authorised for issue by the Board of Directors on 27 May 2025. They were signed on its behalf by:

G I Maspero
Director
SILVERTON INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
SILVERTON INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 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

Silverton Investments 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 Cross Keys House, 27 The Parade, Marlborough, SN8 1NE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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

The annual rentals on 'operating leases' are credited to the profit and loss account net of value added tax on a straight line basis over the lease term. During the prior year the company disposed of its investments properties.

Taxation

Current tax
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Leases


The Company as lessor
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

Fixed asset investments

Investments in classical cars are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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 direct labour.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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, 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.

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.

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.

2. Employees

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

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 September 2023 2,421,651 2,421,651
Additions 1,838,575 1,838,575
Disposals ( 140,902) ( 140,902)
At 31 August 2024 4,119,324 4,119,324
Carrying value at 31 August 2024 4,119,324 4,119,324
Carrying value at 31 August 2023 2,421,651 2,421,651

4. Debtors

2024 2023
£ £
Trade debtors 35 16,036
Amounts owed by Group undertakings 3,369,301 3,624,510
Other debtors 54,095 36,153
3,423,431 3,676,699

Amounts owed to group undertakings are interest bearing and repayable on demand.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 27,623 17,290
Amounts owed to Group undertakings 401,949 400,000
Amounts owed to joint ventures 1,047,051 958,951
Other loans 413,868 414,258
Accruals 4,275 11,871
Other creditors 1,767,438 13,819
3,662,204 1,816,189

Included within other borrowings is £413,868 (2023: £414,258) relating to a loan to Aqua Nominees Limited, the company's parent undertaking. This loan is repayable on demand and accrues interest at 12%

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Commitments

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

2024 2023
£ £
within one year 34,042 8,300
between one and five years 56,158 8,500
90,200 16,800

8. Related party transactions

**During the year the company entered into the following transactions with related parties:**

**Purchases**

2024 2023
£ £
Fellow group undertakings 695 13,343

Fellow group undertakings

**Professional fees charged by related parties**

2024 2023
£ £
Entities with a common director 5,400 9,463

**Expenses recharged by related parties**

2024 2023
£ £
Fellow group undertakings 123 15,321
Entities with a common director 17 45

The following amounts were outstanding at the reporting date:

**Amounts due to related parties**

2024 2023
£ £
Entities with control, joint control or significant influence over the company 465,760 416,207
Fellow group undertakings 400,000 400,000
Joint venture 977,000 958,951
Entities with a common director 140 54
Directors 1,717,495 0

**The following amounts were outstanding at the reporting end date:**

**Amounts due from related parties**

2024 2023
£ £
Fellow group undertakings 3,369,301 3,640,513