Silverbridge Properties Limited
Annual Report and Financial Statements
For the year ended 31 March 2025
Company Registration No. 04397153 (England and Wales)
Silverbridge Properties Limited
Company Information
Directors
R. Albrow
R. G. Baldwin
R. Smith
Secretary
S. J. Clark
Company number
04397153
Registered office
4 Victoria Square
St Albans
Hertfordshire
AL1 3TF
Auditor
Moore Kingston Smith LLP
4 Victoria Square
St Albans
Hertfordshire
AL1 3TF
Bankers
Royal Bank of Scotland
Liverpool Group of Branches
1 Dale Street
Liverpool
L2 2PP
Silverbridge Properties Limited
Contents
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 20
Silverbridge Properties Limited
Strategic Report
For the year ended 31 March 2025
Page 1

The directors present the strategic report and financial statements for the year ended 31 March 2025.

Fair review of the business

The year ended 31 March 2025 has been satisfactory. Challenging, in that the business operates in a cautious retirement sector, but overall the company has adjusted to suit the market conditions. By being careful on purchases has meant full funding was not used. Furthermore, transactions have taken longer to go through to completion.

 

The balance sheet is healthy and the relationships the company has with it’s customer base remains strong, as does the brand name in the market.

 

The company retained the services of a marketing consultant, who ensures the company name is well positioned in a range of media.

 

The company’s commitment to customer service, which is commented on in testimonials on the company web site, is a key differentiator in it’s market offering.

Principal risks and uncertainties

The major risk to the business is a significant price crash in the property market. The directors try to mitigate against this by conservative purchase pricing and by turning the stock over as quickly as possible.

Development and performance

The company has a first class business development and sales team and intends to grow the business steadily, with a wider base of property providers. The business KPI’s targets are aligned with this goal.

Key performance indicators

The average purchase price per property has increased due to up market nature of new suppliers. Sales exchanged/completed to September 2025 are targeted to be £16.0m, with the following quarter pipeline improved on that.

 

On behalf of the board

R. G. Baldwin
Director
21 August 2025
Silverbridge Properties Limited
Directors' Report
For the year ended 31 March 2025
Page 2
The directors have pleasure in presenting their report and financial statements for the year ended 31 March 2025.
Principal activities

The principal activity of the company throughout the year was that of the purchase and sale of residential property that has been offered in part exchange through a developer. This activity is focused on the retirement development sector of the market.

Results and dividends

The results for the year are set out on page 8.

Ordinary final dividends of £50,000 were paid during the year (2024: £0).

Directors

The directors who served the company during the year, were as follows:

R. Albrow
R. G. Baldwin
R. Smith
Future developments

The directors anticipate continued increases in turnover for the following years.

Auditor

The auditor, Moore Kingston Smith LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Silverbridge Properties Limited
Directors' Report (Continued)
For the year ended 31 March 2025
Page 3
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
R. G. Baldwin
Director
21 August 2025
2025-08-21
Silverbridge Properties Limited
Independent Auditor's Report
To the Members of Silverbridge Properties Limited
Page 4
Opinion

We have audited the financial statements of Silverbridge Properties Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Silverbridge Properties Limited
Independent Auditor's Report (Continued)
To the Members of Silverbridge Properties Limited
Page 5

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

 

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Silverbridge Properties Limited
Independent Auditor's Report (Continued)
To the Members of Silverbridge Properties Limited
Page 6
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

 

 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

 

Silverbridge Properties Limited
Independent Auditor's Report (Continued)
To the Members of Silverbridge Properties Limited
Page 7

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

 

 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Trushit Patel
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
21 August 2025
Chartered Accountants
Statutory Auditor
4 Victoria Square
St Albans
Hertfordshire
AL1 3TF
Silverbridge Properties Limited
Statement of Comprehensive Income
For the year ended 31 March 2025
Page 8
2025
2024
Notes
£
£
Turnover
3
27,230,610
24,539,318
Cost of sales
(26,522,124)
(24,351,093)
Gross profit
708,486
188,225
Administrative expenses
(193,839)
(394,965)
Other operating income
-
0
75,000
Operating profit/(loss)
4
514,647
(131,740)
Interest receivable and similar income
5
18,175
982
Interest payable and similar expenses
6
(94,504)
(43,506)
Profit/(loss) before taxation
438,318
(174,264)
Tax on profit/(loss)
7
(109,144)
-
0
Profit/(loss) for the financial year
329,174
(174,264)

The Statement of Comprehensive Income has been prepared on the basis that all operations are continuing operations.

Silverbridge Properties Limited
Balance Sheet
As at 31 March 2025
Page 9
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
1,613
2,420
Current assets
Stock
10
6,253,970
8,381,004
Debtors
11
2,992,750
2,590,950
Cash at bank and in hand
5,709,643
490,364
14,956,363
11,462,318
Creditors: amounts falling due within one year
12
(10,458,501)
(7,244,437)
Net current assets
4,497,862
4,217,881
Net assets
4,499,475
4,220,301
Capital and reserves
Called up share capital
13
100
100
Profit and loss reserves
4,499,375
4,220,201
Total equity
4,499,475
4,220,301
The financial statements were approved by the board of directors and authorised for issue on 21 August 2025 and are signed on its behalf by:
R. G. Baldwin
Director
Company Registration No. 04397153
Silverbridge Properties Limited
Statement of Changes in Equity
For the year ended 31 March 2025
Page 10
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
100
4,394,465
4,394,565
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
(174,264)
(174,264)
Balance at 31 March 2024
100
4,220,201
4,220,301
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
329,174
329,174
Dividends
8
-
(50,000)
(50,000)
Balance at 31 March 2025
100
4,499,375
4,499,475
Silverbridge Properties Limited
Statement of Cash Flows
For the year ended 31 March 2025
Page 11
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
17
5,268,058
(899,214)
Interest paid
(94,504)
(43,506)
Income taxes refunded/(paid)
77,550
(94,881)
Net cash inflow/(outflow) from operating activities
5,251,104
(1,037,601)
Investing activities
Purchase of tangible fixed assets
-
0
(2,420)
Interest received
18,175
982
Net cash generated from/(used in) investing activities
18,175
(1,438)
Financing activities
Dividends paid
(50,000)
-
0
Net cash used in financing activities
(50,000)
-
Net increase/(decrease) in cash and cash equivalents
5,219,279
(1,039,039)
Cash and cash equivalents at beginning of year
490,364
1,529,403
Cash and cash equivalents at end of year
5,709,643
490,364
Silverbridge Properties Limited
Notes to the Financial Statements
For the year ended 31 March 2025
Page 12
1
Accounting policies
Company information

Silverbridge Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Victoria Square, St Albans, Hertfordshire, AL1 3TF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has adequate financial resources and as a consequence, the directors believe that the company is well placed to manage its business risks successfully. The company achieved a profit of £328,982 (2024: loss of £174,262) during the year. At 31 March 2025, the company had net assets of £4,499,283 (2024: £4,220,301) and cash of £5,709,643 (2024: £490,364).true

 

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

1.3
Turnover

Turnover represents the gross proceeds from property sales during the year. Turnover from property sales is recognised at the date of exchange of contract unless conditions are placed upon a contract until completion. In some cases, if a formal or informal agreements exists with a third party, the turnover attributable to the company represents a proportion of total proceeds.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
3 years straight line

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.

1.5
Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Silverbridge Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 13

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

 

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stock

Stock comprises properties held for re-sale.

 

Stocks are stated at the lower of cost, which includes the cost of improvements, and net realisable value.

 

Net realisable value is based on estimated selling price less further costs expected to be incurred on disposal.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents 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 current liabilities.

1.8
Financial assets

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Silverbridge Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 14
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss account.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Other financial liabilities are initially measured at fair value, net of transaction costs. They are subsequently measured at amortised cost using the effective interest method, with interest expense recognised on an effective yield basis.

 

The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability to the net carrying amount on initial recognition.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Silverbridge Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 15
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

 

Stock provision

This provision is assessed by the Directors annually and it is based on the post year end sales or expected sold prices.

3
Turnover

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Turnover from sale of residential property
27,230,610
24,539,318
4
Operating profit/(loss)
2025
2024
Operating profit/(loss) for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
33,032
24,565
Fees payable to the company's auditor for non-audit services
7,009
-
Depreciation of owned tangible fixed assets
807
-
5
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
18,175
982
6
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on other loans
94,504
43,506
Silverbridge Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 16
7
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
109,144
-
0
Total tax charge
109,144
-
0

The actual charge for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit/(loss) before taxation on continued operations
438,318
(174,264)
Profit/(loss) on ordinary activities before taxation multiplied by standard rate of corporation tax of 25.00% (2024 - 25.00%)
109,580
(43,566)
Tax effect of expenses that are not deductible in determining taxable profit
2,197
41,528
Tax effect of utilisation of tax losses brought forward
(2,643)
-
0
Unutilised tax losses carried forward
-
2,643
Capital allowances in excess of depreciation
-
0
(605)
(446)
43,566
Tax expense for the year
109,144
-
8
Dividends
2025
2024
2025
2024
Per share
Per share
Total
Total
£
£
£
£
Ordinary
Final paid
500.00
-
0
50,000
-
0
Silverbridge Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 17
9
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2024
6,675
At 31 March 2025
6,675
Depreciation and impairment
At 1 April 2024
4,255
Depreciation charged in the year
807
At 31 March 2025
5,062
Carrying amount
At 31 March 2025
1,613
At 31 March 2024
2,420
10
Stock
2025
2024
£
£
Property
6,253,970
8,381,004
11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
77,519
Other debtors
2,992,750
2,513,431
2,992,750
2,590,950

Trade debtors disclosed above are measured at amortised cost.

Silverbridge Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 18
12
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
109,336
161
Other creditors
10,225,532
7,208,226
Accruals and deferred income
123,633
36,050
10,458,501
7,244,437
13
Share capital
2025
2024
£
£
Issued and fully paid
100 Ordinary of £1 each
100
100
Silverbridge Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 19
14
Related party transactions

Included in other debtors is an amount of £1,625,000 (2024: £825,000), due from Knotty Green Limited, a company of which R. G. Baldwin is a director. Interest was not charged on the balance of this loan. During the year, consultancy fees of £nil (2024: £18,000) were paid to Knotty Green Limited. During the year management fees of £nil (2024: £25,000) were received from Knotty Green Limited at arms length on normal commercial terms.

 

Included in other debtors is an amount of £255,000 (2024: £395,000), due from RARB Properties Limited, a company of which R. G. Baldwin and R. Albrow are directors. Interest was not charged on the balance of this loan. During the year management fees of £nil (2024: £25,000) were received from RARB Properties Limited at arms length on normal commercial terms.

 

Included in other debtors is an amount of £nil (2024: £25,000), due from Ethorpe Properties Limited, a company of which R. G. Baldwin is a director. Interest was not charged on the balance of this loan. During the year management fees of £ (2024: £25,000) were received from Ethorpe Properties Limited at arms length on normal commercial terms.

 

An amount of £nil (2024: £18,101) was recharged from E.E. & A. Tee Limited, a company on which R Albrow an R Baldwin are directors. There were no outstanding balances at the year end.

 

An amount of £316,944 (2024: £263,101) relating to property consultancy fees was charged by Cable Rock Property Ltd, a company in which R Smith is a director. There were no outstanding balances at the year end.

 

Included in other creditors is an amount of £3,070,000 (2024: £1,800,000), due to BBL Properties Limited, a company of which R. G. Baldwin is a director.

 

Included in the creditors is an amount of £1,000,000 (2024:£nil), due to Rupa Estates Limited, a company of which R.G. Baldwin is a director.

 

Included in creditors is an amount of £44,345 due to Scale Investments Limited, a company of which a Silverbridge shareholder is a director.

 

All loans above are unsecured and repayable on demand.

 

The company has given cross guarantee to Royal Bank of Scotland in favour of G Holmes White (Properties) Limited, a company of which R. G. Baldwin and R. Albrow are directors.

15
Directors' transactions

Dividends totaling £25,500 (2024: £Nil) were paid in the year in respect of shares held by the company's directors.

16
Ultimate controlling party

In the view of the directors, there is no ultimate controlling party.

Silverbridge Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 20
17
Cash generated from/(absorbed by) operations
2025
2024
£
£
Profit/(loss) for the year after tax
329,174
(174,264)
Adjustments for:
Taxation charged
109,144
-
0
Finance costs
94,504
43,506
Investment income
(18,175)
(982)
Depreciation and impairment of tangible fixed assets
807
-
0
Movements in working capital:
Decrease in stock
2,127,034
3,414,747
(Increase)/decrease in debtors
(479,319)
11,978
Increase/(decrease) in creditors
3,104,889
(4,194,199)
Cash generated from/(absorbed by) operations
5,268,058
(899,214)
18
Analysis of changes in net funds
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
490,364
5,219,279
5,709,643
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