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Company No: 03706100 (England and Wales)

# SILVERCROSS PROPERTIES LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH THE REGISTRAR

SILVERCROSS PROPERTIES LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2025

Contents

SILVERCROSS PROPERTIES LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2025
SILVERCROSS PROPERTIES LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2025

DIRECTOR | N Wareing

REGISTERED OFFICE | Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT
| United Kingdom

COMPANY NUMBER | 03706100 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT

SILVERCROSS PROPERTIES LIMITED

## BALANCE SHEET

AS AT 28 FEBRUARY 2025
SILVERCROSS PROPERTIES LIMITED

## BALANCE SHEET (continued)

AS AT 28 FEBRUARY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 95 |  | 152
Investment property | 4 | 870,000 |  | 845,000
|  | 870,095 |  | 845,152
Current assets |  |  |  |
Debtors | 5 | 232 |  | 9,435
Investments | 6 | 1,182 |  | 1,267
Cash at bank and in hand | 7 | 8,716 |  | 8,343
|  | 10,130 |  | 19,045
Creditors: amounts falling due within one year | 8 | ( 71,090) |  | ( 89,122)
Net current liabilities |  | (60,960) |  | (70,077)
Total assets less current liabilities |  | 809,135 |  | 775,075
Creditors: amounts falling due after more than one year | 9 | ( 351,217) |  | ( 357,047)
Provision for liabilities | 10 | ( 73,520) |  | ( 67,284)
Net assets |  | 384,398 |  | 350,744
Capital and reserves |  |  |  |
Called-up share capital | 11 | 1,000 |  | 1,000
Revaluation reserve |  | 437,504 |  | 486,000
Profit and loss account |  | ( 54,106 ) |  | ( 136,256 )
Total shareholder's funds |  | 384,398 |  | 350,744

For the financial year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Silvercross Properties Limited (registered number: 03706100) were approved and authorised for issue by the Director on 14 October 2025. They were signed on its behalf by:

N Wareing Director |

SILVERCROSS PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2025
SILVERCROSS PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2025

##### 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

Silvercross Properties 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 Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, United Kingdom. The registered number is 03706100.
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 Balance Sheet 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.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
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.

##### 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 | 4 years straight line
Office equipment | 4 years straight line
Computer equipment | 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
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 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.

Investments
Investments in unlisted company shares, whose market value cannot be reliably determined, are stated at historic cost less impairment.

#### 2. Employees

| 2025 |  | 2024
| 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 |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 March 2024 | 775 |  | 677 |  | 1,394 |  | 2,846
At 28 February 2025 | 775 |  | 677 |  | 1,394 |  | 2,846
Accumulated depreciation |  |  |  |  |  |  |
At 01 March 2024 | 775 |  | 677 |  | 1,242 |  | 2,694
Charge for the financial year | 0 |  | 0 |  | 57 |  | 57
At 28 February 2025 | 775 |  | 677 |  | 1,299 |  | 2,751
Net book value |  |  |  |  |  |  |
At 28 February 2025 | 0 |  | 0 |  | 95 |  | 95
At 29 February 2024 | 0 |  | 0 |  | 152 |  | 152

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 March 2024 | 845,000
Fair value movement | 25,000
As at 28 February 2025 | 870,000

Split between Freehold and Leasehold property

The net book value of land and buildings may be further analysed as follows:

| 2025 |  | 2024
| £ |  | £
Freehold | 870,000 |  | 845,000

Valuation

The 2025 valuations were made by the director, on an open market value for existing use basis.

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 0 |  | 1,357
Prepayments | 232 |  | 289
Other debtors | 0 |  | 7,789
| 232 |  | 9,435

#### 6. Current asset investments

| 2025 |  | 2024
| £ |  | £
Unlisted investments | 1,182 |  | 1,267

#### 7. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 8,716 |  | 8,343

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Amounts owed to director | 63,849 |  | 83,199
Accruals and deferred income | 3,127 |  | 4,337
Corporation tax | 4,114 |  | 1,586
| 71,090 |  | 89,122

#### 9. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 351,217 |  | 357,047

The bank loans are secured by a 1st legal charge over the properties.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 351,217 |  | 357,047

#### 10. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 67,284) |  | ( 46,550)
Charged to the Profit and Loss Account | ( 6,236) |  | ( 20,734)
At the end of financial year | ( 73,520) |  | ( 67,284)

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Accelerated capital allowances | ( 24) |  | ( 38)
Revaluation of investment property | ( 73,496) |  | ( 67,246)
| ( 73,520) |  | ( 67,284)

#### 11. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,000 Ordinary shares of £ 1.00 each | 1,000 |  | 1,000