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M&D SILK PROPERTIES LTD
Registered Number:07435199
For the year ended 30 September 2024
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 30 September 2024
M&D SILK PROPERTIES LTD
Contents Page
Company Information
1
2
Directors' Report
3
Independent Accountants' Report
4
Income Statement
5
Statement of Financial Position
6
Statement of Changes in Equity
7 to 8
Notes to the Financial Statements
3
For the year ended 30 September 2024
M&D SILK PROPERTIES LTD
Company Information
MR DAVID SILK
Directors
LYNNE SILK
07435199
Registered Number
2 FAUNA CLOSE
Registered Office
STANMORE
MIDDLESEX
HA7 4PX
Accountants
BURNETTS
CHARTERED CERTIFIED ACCOUNTANTS
2 FAUNA CLOSE
STANMORE
MIDDLESEX
HA7 4PX
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For the year ended 30 September 2024
M&D SILK PROPERTIES LTD
Directors' Report
The directors present their report and accounts for the Period ended 30th September 2024
Principal activities
The company's activity is that of property investment
Directors
The directors who served the company throughout the year were as follows:
MR DAVID SILK
LYNNE SILK
MR DAVID SILK
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
18 March 2025
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5
For the year ended 30 September 2024
M&D SILK PROPERTIES LTD
Independent Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of M&D SILK PROPERTIES LTD
for the year ended 30 September 2024
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts
of M&D SILK PROPERTIES LTD for the year ended 30 September 2024 which comprise the Income Statement, the
Statement of Financial Position, the Statement of Changes in Equity and the related notes from the company's
accounting records and from information and explanations you have given us.
As a practising firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other
professional requirements which are detailed at http://rulebook.accaglobal.com.
This report is made solely to the Board of Directors of M&D SILK PROPERTIES LTD, as a body, in accordance with
the terms of our engagement letter dated 1 May 2010. Our work has been undertaken solely to prepare for your
approval the accounts of M&D SILK PROPERTIES LTD and state those matters that we have agreed to state to the
Board of Directors of M&D SILK PROPERTIES LTD, as a body, in this report in accordance with the requirements of
the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the
fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M&D SILK
PROPERTIES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that M&D SILK PROPERTIES LTD has kept adequate accounting records and to prepare
statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of M&D SILK
PROPERTIES LTD. You consider that M&D SILK PROPERTIES LTD is exempt from the statutory audit requirement
for the year.
BURNETTS
CHARTERED CERTIFIED ACCOUNTANTS
2 FAUNA CLOSE
STANMORE
MIDDLESEX
HA7 4PX
Date:
18 March 2025
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6
For the year ended 30 September 2024
M&D SILK PROPERTIES LTD
Income Statement
2023
£
2024
£
Turnover
650,243
550,277
550,277
Gross profit
650,243
Administrative expenses
(253,792)
(246,990)
Other operating income
200,000
200,000
Operating profit
596,451
503,287
Other interest receivable and similar income
975
713
Interest payable and similar charges
(453,563)
(370,895)
143,863
133,105
Profit before taxation
(36,075)
(29,283)
Taxation
107,788
Profit for the financial year
103,822
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Registered Number :
07435199
As at 30 September 2024
M&D SILK PROPERTIES LTD
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
11,291,686
11,292,121
2
11,291,686
11,292,121
Current assets
Trade and other receivables
11,830,526
12,126,334
3
Financial assets
1,605,165
1,605,165
4
234,721
Cash and cash equivalents
135,017
13,866,516
13,670,412
Trade and other payables: amounts falling due within one
year
(6,255,000)
(6,342,881)
5
7,415,412
7,523,635
Net current assets
Total assets less current liabilities
18,815,321
18,707,533
18,815,321
Net assets
18,707,533
Capital and reserves
Called up share capital
18,000,000
18,000,000
Retained earnings
815,321
707,533
18,815,321
18,707,533
Shareholders' funds
For the year ended 30 September 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
MR DAVID SILK
These financial statements were approved and authorised for issue by the Board on 18 March 2025 and were signed by:
The notes form part of these financial statements
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For the year ended 30 September 2024
M&D SILK PROPERTIES LTD
Statement of Changes in Equity
Share Capital
Retained
earnings
Total
£
£
£
Balance at 01 October 2022
18,000,000
603,711
18,603,711
103,822
103,822
Profit/Loss for the year
Balance at 30 September 2023 and 01 October 2023
18,707,533
707,533
18,000,000
107,788
107,788
Profit/Loss for the year
Balance at 30 September 2024
18,000,000
815,321
18,815,321
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For the year ended 30 September 2024
M&D SILK PROPERTIES LTD
Notes to the Financial Statements
Statutory Information
M&D SILK PROPERTIES LTD is a private limited company, limited by shares, domiciled in England and Wales,
registration number 07435199.
Registered address:
2 FAUNA CLOSE
STANMORE
MIDDLESEX
HA7 4PX
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
2. Property, plant and equipment
Total
Office
equipment
Land and
buildings
£
£
£
Cost or
valuation
At 01 October 2023
11,295,255
5,312
11,289,943
At 30 September 2024
11,289,943
5,312
11,295,255
Provision for depreciation and impairment
At 01 October 2023
3,134
3,134
-
Charge for year
435
435
-
At 30 September 2024
3,569
3,569
-
At 30 September 2024
Net book value
11,289,943
1,743
11,291,686
At 30 September 2023
11,289,943
2,178
11,292,121
3. Trade and other receivables
2023
2024
£
£
Trade debtors
145,692
144,000
Amounts owed by group undertakings and participating interests
11,330,448
11,457,761
Other debtors
650,194
228,765
11,830,526
12,126,334
The debtors above include the following amounts falling due after more than one year:
Amounts owed by group undertakings and participating interests
11,330,448
11,457,761
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For the year ended 30 September 2024
M&D SILK PROPERTIES LTD
Notes to the Financial Statements Continued
4. Financial instruments at fair value
2023
2024
£
£
Shares in group undertakings
1,605,165
1,605,165
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
6,000,000
6,000,000
Trade creditors
4,580
1,706
Taxation and social security
36,075
29,283
Other creditors
302,226
224,011
6,342,881
6,255,000
6. Average number of persons employed
During the year the average number of employees was 2 (2023 : 2)
7. Parent-subsidiary relationship
The company received Management Fees from Fabric Investments Ltd , a wholly owned subsidiary At the year end the sum of £9,483,871 was owed to the company by Fabric Investments Ltd, a wholly owned subsidiary At the year end the sum of £1,124,896 was owed to the company by Camden Lock Properties Ltd, a wholly owned subsidiary
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