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Company No: 10602101 (England and Wales)

COLDMAN ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

COLDMAN ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

COLDMAN ESTATES LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
COLDMAN ESTATES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTOR D J Coldman
REGISTERED OFFICE Brockbourne House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS
United Kingdom
COMPANY NUMBER 10602101 (England and Wales)
ACCOUNTANT S&W Partners (South East) Limited
Brockbourne House
77 Mount Ephraim
Royal Tunbridge Wells
TN4 8BS
COLDMAN ESTATES LIMITED

BALANCE SHEET

As at 30 June 2024
COLDMAN ESTATES LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,990 3,975
Investment property 4 1,749,247 1,419,408
1,751,237 1,423,383
Current assets
Debtors 5 41,059 17,192
Cash at bank and in hand 2,913 5,825
43,972 23,017
Creditors: amounts falling due within one year 6 ( 1,868,758) ( 1,517,633)
Net current liabilities (1,824,786) (1,494,616)
Total assets less current liabilities (73,549) (71,233)
Net liabilities ( 73,549) ( 71,233)
Capital and reserves
Called-up share capital 100 100
Fair value reserve 100,354 100,354
Profit and loss account ( 174,003 ) ( 171,687 )
Total shareholder's deficit ( 73,549) ( 71,233)

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Coldman Estates Limited (registered number: 10602101) were approved and authorised for issue by the Director on 27 June 2025. They were signed on its behalf by:

D J Coldman
Director
COLDMAN ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
COLDMAN ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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

Coldman Estates 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 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Coldman Estates Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on the basis that the Company will continue in operational existence for the foreseeable future. This means, in particular, that the profit and loss account and balance sheet assume no intention or necessity to liquidate or curtail significantly the scale of the operations.

At the balance sheet date, the Company had net liabilities of £73,549 (2023: £71,233). The director has reviewed the future outlook of the business and has confirmed he will continue to provide their ongoing support for a period of at least 12 months from the date at which these accounts are approved. The financial statements have been prepared on
this basis given the continuing support of the director.

Turnover

Turnover is recognised to the extent that it is problem that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The revenue is made up of income from rent, livery and race course hire.

Revenue is recognised in the period to which it relates.

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight line basis over the lease term.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 32,631 32,631
At 30 June 2024 32,631 32,631
Accumulated depreciation
At 01 July 2023 28,656 28,656
Charge for the financial year 1,985 1,985
At 30 June 2024 30,641 30,641
Net book value
At 30 June 2024 1,990 1,990
At 30 June 2023 3,975 3,975

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 1,419,408
Additions 329,839
As at 30 June 2024 1,749,247

The 2024 valuations were made by the director, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 1,648,893 1,319,054

5. Debtors

2024 2023
£ £
Trade debtors 24,867 1,277
Prepayments and accrued income 4,114 15,972
VAT recoverable 11,978 ( 157)
Other debtors 100 100
41,059 17,192

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,931 3,255
Other creditors 1,862,827 1,514,378
1,868,758 1,517,633

7. Financial commitments

Commitments

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

2024 2023
£ £
within one year 40,475 40,475
between one and five years 110,700 134,241
after five years 0 16,934
151,175 191,650

Other financial commitments

2024 2023
£ £
Due by the company as lessee: Not later than 1 year 7,000 7,000

8. Related party transactions

Transactions with the entity's director

During the year, the company received an additional loan of £348,000 from the director. At the balance sheet date, the total amount owed to the director was £1,856,328 (2023: £1,508,328). This loan is interest free and repayable on demand, and has been included within other creditors.