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Company No: 15194861 (England and Wales)

SURREY LORDS LTD

Unaudited Financial Statements
For the financial period from 07 October 2023 to 31 October 2024
Pages for filing with the registrar

SURREY LORDS LTD

Unaudited Financial Statements

For the financial period from 07 October 2023 to 31 October 2024

Contents

SURREY LORDS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
SURREY LORDS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 31.10.2024
£
Fixed assets
Tangible assets 3 2,164
Investment property 4 1,155,022
1,157,186
Current assets
Cash at bank and in hand 4,329
4,329
Creditors: amounts falling due within one year 5 ( 1,241,801)
Net current liabilities (1,237,472)
Total assets less current liabilities (80,286)
Net liabilities ( 80,286)
Capital and reserves
Called-up share capital 6 100
Profit and loss account ( 80,386 )
Total shareholder's deficit ( 80,286)

For the financial period ending 31 October 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 Surrey Lords Ltd (registered number: 15194861) were approved and authorised for issue by the Director on 05 August 2025. They were signed on its behalf by:

Bridget Anne Lord
Director
SURREY LORDS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 07 October 2023 to 31 October 2024
SURREY LORDS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 07 October 2023 to 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Surrey Lords 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 90 Woodlands Road, Little Bookham, Leatherhead, KT23 4HH, 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 £.

Going concern

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

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £80,286. The Company is supported through loans from the director. The director has 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 director will continue to support the Company. Given the current position, the director believes 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.

Reporting period length

The reporting period is an extended period commencing from the date of incorporation on 7 October 2023.

Finance costs

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.

Taxation

Current tax
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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 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.

Impairment of assets

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.

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.

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.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
07.10.2023 to
31.10.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 07 October 2023 0 0
Additions 2,278 2,278
At 31 October 2024 2,278 2,278
Accumulated depreciation
At 07 October 2023 0 0
Charge for the financial period 114 114
At 31 October 2024 114 114
Net book value
At 31 October 2024 2,164 2,164

4. Investment property

Investment property
£
Valuation
As at 07 October 2023 0
Additions 1,155,022
As at 31 October 2024 1,155,022

5. Creditors: amounts falling due within one year

31.10.2024
£
Amounts owed to associates 1,115,684
Amounts owed to director 47,075
Accruals 79,042
1,241,801

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

31.10.2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

7. Related party transactions

Transactions with the entity's director

31.10.2024
£
Amounts owed by the Company to the director 47,075
Amounts owed by the Company to an associate 1,115,684

Interest has been accrued at a rate of 10% based on the daily average method.