Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 4 |
|
|
|
| 1,150,000 | 1,190,000 | |||
| Current assets | ||||
| Debtors | 5 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 321,315 | 330,056 | |||
| Creditors: amounts falling due within one year | 6 | (
|
(
|
|
| Net current liabilities | (902,537) | (920,210) | ||
| Total assets less current liabilities | 247,463 | 269,790 | ||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 7 |
|
|
|
| Profit and loss account | 9 |
|
|
|
| Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Silvere Ltd (registered number:
|
Kirsty Victoria Pascall
Director |
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.
Silvere Ltd (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 C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £247,463. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
| Fixtures and fittings |
|
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Fixtures and fittings | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2023 |
|
|
|
| At 30 September 2024 |
|
|
|
| Accumulated depreciation | |||
| At 01 October 2023 |
|
|
|
| At 30 September 2024 |
|
|
|
| Net book value | |||
| At 30 September 2024 |
|
|
|
| At 30 September 2023 |
|
|
| Investment property | |
| £ | |
| Valuation | |
| As at 01 October 2023 |
|
| Fair value movement | (40,000) |
| As at 30 September 2024 |
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
|
|
|
| Amounts owed to directors |
|
|
|
| Accruals and deferred income |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
Transactions with entities in which the entity itself has a participating interest
| 2024 | 2023 | ||
| £ | £ | ||
| Monies owed by the Estate of J G Wood, former director | 24,977 | 24,977 |
Transactions with the entity's directors
| 2024 | 2023 | ||
| £ | £ | ||
| Monies owed to the director | 1,209,402 | 1,209,402 |
Included in the profit and loss account is non-distributable reserves of £(84,352) (2022: (£44,352)) representing the cumulative fair value movements of the Investment property, net of deferred tax. The remaining amount is distributable.