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REGISTERED NUMBER: 09765559 (England and Wales)









Financial Statements for the Year Ended 30th September 2024

for

Silk (Maxwell Street) Limited

Silk (Maxwell Street) Limited (Registered number: 09765559)

Contents of the Financial Statements
for the Year Ended 30th September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Silk (Maxwell Street) Limited

Company Information
for the Year Ended 30th September 2024







DIRECTORS: R J Diamond
R Singh





REGISTERED OFFICE: Unit 3, Second Floor
80-82 Pride Court
White Lion Street
London
N1 9PF





REGISTERED NUMBER: 09765559 (England and Wales)






Silk (Maxwell Street) Limited (Registered number: 09765559)

Balance Sheet
30th September 2024

30/9/24 30/9/23
as restated
Notes £    £   
FIXED ASSETS
Investment property 4 10,000,000 8,166,286

CURRENT ASSETS
Debtors 5 66,251 67,747
Cash at bank 516,855 517,749
583,106 585,496
CREDITORS
Amounts falling due within one year 6 (1,729,060 ) (1,885,333 )
NET CURRENT LIABILITIES (1,145,954 ) (1,299,837 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,854,046

6,866,449

CREDITORS
Amounts falling due after more than one
year

7

(5,888,703

)

(5,252,367

)

PROVISIONS FOR LIABILITIES (621,712 ) (593,238 )
NET ASSETS 2,343,631 1,020,844

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 8 2,343,431 1,020,644
2,343,631 1,020,844

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Silk (Maxwell Street) Limited (Registered number: 09765559)

Balance Sheet - continued
30th September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th August 2025 and were signed on its behalf by:





R J Diamond - Director


Silk (Maxwell Street) Limited (Registered number: 09765559)

Notes to the Financial Statements
for the Year Ended 30th September 2024


1. STATUTORY INFORMATION

Silk (Maxwell Street) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Interest incurred to purchase investment properties are expensed to the P&L.

Taxation
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Silk (Maxwell Street) Limited (Registered number: 09765559)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 8,166,286
Revaluations 1,833,714
At 30th September 2024 10,000,000
NET BOOK VALUE
At 30th September 2024 10,000,000
At 30th September 2023 8,166,286

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2024 6,594,847
Cost 3,405,153
10,000,000

The Directors are satisfied that the value reflected in the accounts represents the fair value of the property at the year end.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
as restated
£    £   
Other debtors 66,251 67,747

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
as restated
£    £   
Trade creditors 100,594 110,980
Taxation and social security 10,793 10,793
Other creditors 1,617,673 1,763,560
1,729,060 1,885,333

Silk (Maxwell Street) Limited (Registered number: 09765559)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/9/24 30/9/23
as restated
£    £   
Bank loans 5,888,703 5,252,367

8. RESERVES
Retained
earnings
£   

At 1st October 2023 1,020,644
Profit for the year 1,322,787
At 30th September 2024 2,343,431