Silvercrest Estates limited - Accounts to registrar (filleted) - small 18.2

Silvercrest Estates limited - Accounts to registrar (filleted) - small 18.2

SILVERCREST ESTATES LIMITED - Company Information

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REGISTERED NUMBER: 09208871 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

SILVERCREST ESTATES LIMITED
SILVERCREST ESTATES LIMITED (REGISTERED NUMBER: 09208871)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SILVERCREST ESTATES LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2020







DIRECTORS: E J Thompson
Mrs N Hall





SECRETARY: Mrs N Hall





REGISTERED OFFICE: St Paul's House
23 Park Square
Leeds
West Yorkshire
LS1 2ND





REGISTERED NUMBER: 09208871 (England and Wales)





ACCOUNTANTS: Sedulo Leeds Limited
St Paul's House
23 Park Square
Leeds
West Yorkshire
LS1 2ND
Page 1
SILVERCREST ESTATES LIMITED (REGISTERED NUMBER: 09208871)


BALANCE SHEET
31 DECEMBER 2020

31.12.20 31.12.19
Notes £    £   
CURRENT ASSETS
Stocks 57,005 54,025
Debtors 4 116,330 21,325
Cash at bank and in hand 148,107 262,285
321,442 337,635
CREDITORS
Amounts falling due within one year 5 48,063 58,015
NET CURRENT ASSETS 273,379 279,620
TOTAL ASSETS LESS CURRENT
LIABILITIES
273,379
279,620

CAPITAL AND RESERVES
Called up share capital 281,300 281,300
Retained earnings (7,921 ) (1,680 )
SHAREHOLDERS' FUNDS 273,379 279,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 12 April 2021 and were signed on its behalf by:





Mrs N Hall - Director


The notes form part of these financial statements

Page 2
SILVERCREST ESTATES LIMITED (REGISTERED NUMBER: 09208871)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020


1. STATUTORY INFORMATION

Silvercrest Estates 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.

The principal activity of the company during the period was residential property development.

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.

In common with virtually every other business in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the Directors believe they have taken all possible steps to protect the Company including accessing relevant Government assistance.

At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Stocks
Work in progress is valued at the lower at the lower of cost and net realisable value.

Cost is calculated using the the first in, first out method and includes all direct purchases and an appropriate proportion of fixed and variable overheads.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

Page 3 continued...
SILVERCREST ESTATES LIMITED (REGISTERED NUMBER: 09208871)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Other debtors 116,330 21,325

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Trade creditors 3,889 3,889
Taxation and social security 7 7
Other creditors 44,167 54,119
48,063 58,015

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2020 and 31 December 2019:

31.12.20 31.12.19
£    £   
E J Thompson
Balance outstanding at start of year 16,305 -
Amounts advanced 116,261 279,391
Amounts repaid (16,305 ) (263,086 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 116,261 16,305

Mrs N Hall
Balance outstanding at start of year 5,000 -
Amounts advanced - 15,000
Amounts repaid (5,000 ) (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,000

Subsequent to the year loans were repaid.

7. RELATED PARTY DISCLOSURES

Included in other creditors is a balance due to Leader Ltd, a company under common control, of £30,156 (2019: £40,108)

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