Silvershine Ventures Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11346737 (England and Wales)

SILVERSHINE VENTURES LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

4 MAY 2018 TO 31 MAY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

Mrs S R Klein

Mr J Mendlovic

SECRETARY:

Mr C M Rubin

REGISTERED OFFICE:

5a Fountayne Road

London

N16 7EA

REGISTERED NUMBER:

11346737 (England and Wales)

ACCOUNTANTS:

Sugarwhite Meyer Accountants Ltd

First Floor

94 Stamford Hill

London

N16 6XS

FIXED ASSETS

Investment property

5

199,450

CREDITORS

Amounts falling due within one year

6

59,195

NET CURRENT LIABILITIES

(59,195

)

TOTAL ASSETS LESS CURRENT LIABILITIES

140,255

CREDITORS

Amounts falling due after more than one year

7

145,350

NET LIABILITIES

(5,095

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(5,195

)

(5,095

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2019 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 6 February 2020 and were signed on its behalf by:

Mrs S R Klein - Director

1.	STATUTORY INFORMATION

Silvershine Ventures Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified to include

investment properties measured at fair value through profit or loss.

Significant judgements and estimates

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.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly

attributable expenditure. It is revalued to its fair value at each reporting date and any changes in fair

value are recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account, 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 period 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.

Going concern

The financial statements have been prepared in accordance with the accounting principles appropriate

to a going concern notwithstanding the deficiency in net assets at the balance sheet date. The

directors consider this to be appropriate due to their continued financial support.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

199,450

At 31 May 2019

199,450

NET BOOK VALUE

At 31 May 2019

199,450

The fair value of the investment properties has been arrived at on the basis of a valuation carried out

by the company's directors who have the experience and expertise required to undertake such an

exercise. The valuation was made on an open market value basis by reference to market evidence of

transaction prices for similar properties in the same location.

The historical cost of investment properties at 31 May 2019 is £199,450.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

750

Other creditors

58,445

59,195

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

145,350

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more than 5 years by non-instalments

145,350

8.	SECURED DEBTS

The bank loans are secured by legal charges over the company's investment properties.

9.	RELATED PARTY DISCLOSURES

Included in other creditors are amounts aggregating £56,980 due to companies of which a director of

this company is also a director.