Company Registration No. SC703431 (Scotland)
Silver City Property Ltd
Unaudited accounts
for the year ended 31 July 2025
Silver City Property Ltd
Unaudited accounts
Contents
Silver City Property Ltd
Company Information
for the year ended 31 July 2025
Directors
Darren George Owens
Lauren Fletcher
Company Number
SC703431 (Scotland)
Registered Office
27 Young Crescent
Larbert
FK5 4XS
Scotland
Silver City Property Ltd
Statement of financial position
as at 31 July 2025
Tangible assets
2,450
3,267
Investment property
1,017,000
967,000
Cash at bank and in hand
18,148
5,642
Creditors: amounts falling due within one year
(244,727)
(194,934)
Net current liabilities
(226,579)
(158,242)
Total assets less current liabilities
792,871
812,025
Creditors: amounts falling due after more than one year
(715,297)
(714,911)
Provisions for liabilities
Deferred tax
(39,167)
(43,912)
Called up share capital
2
2
Fair value reserve
172,972
187,206
Profit and loss account
(134,567)
(134,006)
Shareholders' funds
38,407
53,202
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2025 and were signed on its behalf by
Lauren Fletcher
Director
Company Registration No. SC703431
Silver City Property Ltd
Notes to the Accounts
for the year ended 31 July 2025
Silver City Property Ltd is a private company, limited by shares, registered in Scotland, registration number SC703431. The registered office is 27 Young Crescent, Larbert, FK5 4XS, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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.
Silver City Property Ltd
Notes to the Accounts
for the year ended 31 July 2025
4
Tangible fixed assets
Computer equipment
Fair value at 1 August 2024
967,000
Net loss from fair value adjustments
(18,978)
The historic cost of the above investment properties totals £804,860 (2024: £735,882). The fair value of the properties has been arrived at by the directors of the company on 31 July 2025 on a market value basis.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2025
2024
Other creditors
8,461
11,463
Loans from directors
236,266
183,471
8
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
715,297
714,911
Included within other creditors are mortgages relating to the investment property. The mortgages are secured over the properties to which they relate. The directors have also provided personal guarantees in relation to these.
Silver City Property Ltd
Notes to the Accounts
for the year ended 31 July 2025
9
Transactions with related parties
At the balance sheet date, the company owed £236,266 (2024: £183,471) to the directors. The loan is unsecured, interest-free and repayable on demand.
At the balance sheet date, £38,537 (2024: 47,000) was included within other creditors and is owed to a SSAS Pension Scheme controlled by the directors. The loan has a 5-year term, carries interest at 5.25% per annum (payable annually), and capital repayments will commence in the next financial year. The directors confirm that the interest rate and other terms are consistent with those available in normal market conditions.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).