Silkstone Developments Limited - Accounts to registrar (filleted) - small 18.2
Silkstone Developments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| FOR |
| SILKSTONE DEVELOPMENTS LIMITED |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SILKSTONE DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 12 Victoria Road |
| Barnsley |
| South Yorkshire |
| S70 2BB |
| BANKERS: |
| 1st Floor |
| Copia House |
| Dodworth |
| Barnsley |
| S75 3SP |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| BALANCE SHEET |
| 31 MARCH 2020 |
| 31.3.20 | 31.3.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Revaluation reserve | 13 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| BALANCE SHEET - continued |
| 31 MARCH 2020 |
| 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. |
| 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 |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Silkstone Developments Limited is a |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Silkstone Developments 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. |
| Significant judgements and estimates |
| No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements. |
| There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
| Turnover |
| Turnover is recognised to the extent that the company has obtained the right to consideration through the performance of its contractual obligations. Where the substance is that the company's contractual obligations are performed over time, turnover is recognised as contract activity progresses to reflect the company's partial performance of its contractual obligations. The amount recognised represents the right to consideration by reference to the value of the work performed. |
| Tangible fixed assets |
| Plant and machinery | - |
| Office equipment | - |
| All fixed assets are initially recorded at cost. |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate of surplus or deficit arriving from changes in the value is recognised in the revaluation reserve. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| 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. |
| Pension costs |
| The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Work in progress |
| Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
| Going concern |
| The financial statements have been prepared on a going concern basis. At the time of the approval the UK economy was subject to the impact of the coronavirus pandemic outbreak. The directors have considered projections and forecasts based on a number of underlying assumptions, which are subject to significant uncertainty at this time. These show that the expected income and expenditure, together with the current reserves and the possibility of obtaining funding allows the company to continue as a going concern. |
| Pension costs |
| The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Office |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2019 |
| Revaluations | 214,632 |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| Fair value at 31 March 2020 is represented by: |
| £ |
| Valuation in 2020 | 380,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Cost | 165,368 | - |
| Investment Property was valued on an open market basis on 31 March 2020 by Brownhill Vickers LLP . |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 7. | STOCKS |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Work-in-progress |
| Finished goods |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' current accounts | - | 2,945 |
| Prepayments and accrued income |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| VAT | 746 | 568 |
| Other creditors |
| Directors' current accounts | 660 | - |
| Accruals and deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Bank loan |
| Other loans |
| SILKSTONE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01076548) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Bank loans |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.20 | 31.3.19 |
| value: | £ | £ |
| Ordinary | £1 | 22,000 | 22,000 |
| 13. | RESERVES |
| Revaluation |
| reserve |
| £ |
| Revaluation reserve | 214,632 |
| At 31 March 2020 |
| 14. | POST BALANCE SHEET EVENTS |
| The directors have considered the global pandemic in producing these financial statements. Any impacts of the pandemic on this company are considered by the directors to be non adjusting event for these financial statements. At the time of review, there is limited impact on the company's activities. |
| 15. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent undertaking is Silkstone Property Investments Limited. |
| The parent company's registered office address is: |
| 12 Victoria Road |
| Barnsley |
| S70 2BB |