REGISTERED NUMBER: 12329910 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

SILVESTRI PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Silvestri

Mrs H Silvestri

SECRETARY:

HP Secretarial Services Ltd

REGISTERED OFFICE:

Cavello House

Lamport Drive

Heartlands Business Park

Daventry

Northamptonshire

NN11 8YH

REGISTERED NUMBER:

12329910 (England and Wales)

ACCOUNTANTS:

Chegwidden & Co

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

FIXED ASSETS

Tangible assets

4

39,443

14,022

Investments

5

102

102

Investment property

6

7,831,493

3,426,187

7,871,038

3,440,311

CURRENT ASSETS

Debtors

7

423,895

64,732

Cash at bank

58,649

453,551

482,544

518,283

CREDITORS

Amounts falling due within one year

8

1,585,328

56,741

NET CURRENT (LIABILITIES)/ASSETS

(1,102,784

)

461,542

TOTAL ASSETS LESS CURRENT LIABILITIES

6,768,254

3,901,853

CREDITORS

Amounts falling due after more than one year

9

(3,171,457

)

(1,312,413

)

PROVISIONS FOR LIABILITIES

(78,096

)

(71,710

)

NET ASSETS

3,518,701

2,517,730

CAPITAL AND RESERVES

Called up share capital

2,439,282

1,800,100

Share premium

462,684

-

Fair value reserve

12

205,964

205,964

Retained earnings

410,771

511,666

3,518,701

2,517,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 23rd December 2025 and were signed on its behalf by:

A Silvestri - Director

1.	STATUTORY INFORMATION

Silvestri Properties 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.

Preparation of consolidated financial statements

The financial statements contain information about Silvestri Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company determines whether a property qualifies as an investment property, and has developed criteria in making that judgement. Investment property is a property held to earn rentals or for capital appreciation or both. Therefore, the company considers whether a property generates cash flows largely independently of the other assets held by the company.

The fair values of investment properties are determined by using valuation techniques. The company uses a variety of methods and makes assumptions that are based on market conditions existing at each balance sheet date. Where appropriate, professional valuations or similar valuation techniques are also used to determine the fair values of the properties.

In the absence of current prices in an active market for similar properties, the company considers information from a variety of sources, including:

(1) current prices in an active market for properties of a different nature, condition or location, adjusted to reflect those differences

(2) recent prices of similar properties on less active markets, with adjustments to reflect any changes in economic conditions since the date of the transactions that occurred at those prices

(3) discounted cash flow projections based on reliable estimates of future cash flows, supported by the terms of any existing lease and other contracts and (when possible) by external evidence such as current market rents for similar properties in the same location and condition, and using discount rates that reflect current market assessments of the uncertainty in the amount and timing of the cash flows.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

42,365

Additions

40,970

At 31st December 2024

83,335

DEPRECIATION

At 1st January 2024

28,343

Charge for year

15,549

At 31st December 2024

43,892

NET BOOK VALUE

At 31st December 2024

39,443

At 31st December 2023

14,022

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

2

100

102

NET BOOK VALUE

At 31st December 2024

2

100

102

At 31st December 2023

2

100

102

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

3,426,187

Additions

4,405,306

At 31st December 2024

7,831,493

NET BOOK VALUE

At 31st December 2024

7,831,493

At 31st December 2023

3,426,187

Fair value at 31st December 2024 is represented by:

£

Valuation in 2015

243,832

Valuation in 2020

(30,000

)

Valuation in 2023

274,619

Cost

7,343,042

7,831,493

If investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

7,343,042

2,937,736

The investment properties were valued on an open market basis in December 2023 by the director.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

170,157

41,696

Other debtors

253,738

23,036

423,895

64,732

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 10)

-

26,883

Trade creditors

13,257

2,249

Taxation and social security

9,931

21,609

Other creditors

1,562,140

6,000

1,585,328

56,741

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 10)

3,171,457

1,312,413

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,984,271

565,788

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

-

26,883

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

261,883

Amounts falling due between two and five years:

Bank loans - 2-5 years

1,187,186

484,742

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,984,271

565,788

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

3,171,457

1,339,296

Bank loans from Lloyds Bank PLC are secured by way of fixed and floating charges over the company's property and assets and legal charges over the investment properties of the company.

Additional bank loans were secured by way of fixed charges over two of the company's investment properties added in 2023 in favour of Landbay Partners Limited.

Further bank loans were secured by way of fixed charges over seven of the company's investment properties added in 2024 in favour of Paragon Bank PLC.

A further fixed and floating charge over all the Company assets was registered by HSBC Bank PLC on 11 September 2024.

12.

RESERVES

Fair

value

reserve

£

At 1st January 2024

and 31st December 2024

205,964

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £115,000 were paid to the directors .

On 16 August 2024 a number of rental properties owned by the directors were transferred to the Company in exchange for 639,182 Ordinary Shares in the Company.

An intercompany loan was received in the year in the sum of £1,550,000 from a connected entity.

14.	ULTIMATE CONTROLLING PARTY

The controlling parties at the year end were A Silvestri and H Silvestri.