Silhill Investments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00653474 (England and Wales)

SILHILL INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr M R W Evans

Ms M E J Osgood

Miss I K C Osgood

SECRETARY:

Miss I K C Osgood

REGISTERED OFFICE:

Station House

North Street

Havant

Hampshire

PO9 1QU

REGISTERED NUMBER:

00653474 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Tangible assets

4

886

-

Investment property

5

2,641,217

2,743,034

2,642,103

2,743,034

CURRENT ASSETS

Debtors

6

58,948

235,626

Cash at bank

523,001

885,116

581,949

1,120,742

CREDITORS

Amounts falling due within one year

7

167,316

73,174

NET CURRENT ASSETS

414,633

1,047,568

TOTAL ASSETS LESS CURRENT LIABILITIES

3,056,736

3,790,602

PROVISIONS FOR LIABILITIES

181,819

124,761

NET ASSETS

2,874,917

3,665,841

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Other reserves

1,175,286

1,247,148

Retained earnings

1,599,631

2,318,693

SHAREHOLDERS' FUNDS

2,874,917

3,665,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 22 November 2023 and were signed on its behalf by:

Miss I K C Osgood - Director

1.	STATUTORY INFORMATION

Silhill Investments 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.

Turnover

Turnover includes rents receivable. Rental income is recognised on the basis of amounts due in the period.

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

-

straight line over 3 years

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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.

Other operating income

Other operating income includes income from the extension of leases. Lease extension income is recognised on a contractual basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

1,329

At 31 March 2023

1,329

DEPRECIATION

Charge for year

443

At 31 March 2023

443

NET BOOK VALUE

At 31 March 2023

886

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

2,743,034

Disposals

(101,817

)

At 31 March 2023

2,641,217

NET BOOK VALUE

At 31 March 2023

2,641,217

At 31 March 2022

2,743,034

Fair value at 31 March 2023 is represented by:

£

Valuation in 2000

124,780

Valuation in 2007

685,360

Valuation in 2009

16,845

Valuation in 2017

529,898

Cost

1,284,334

2,641,217

If investment property had not been revalued it would have been included at the following historical cost:

2023

2022

£

£

Cost

1,284,334

1,402,691

Investment property was valued on an open market basis on 2 February 2017 by Pennycuick Collins .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

24,177

62,752

Directors' current accounts

-

138,103

Corporation tax recoverable

34,771

34,771

58,948

235,626

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Corporation tax

11,784

62,815

Loan from Alder

469

6,600

Directors' current accounts

151,123

-

Accrued expenses

3,940

3,759

167,316

73,174

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

Miss I K C Osgood

Balance outstanding at start of year

138,103

106,988

Amounts advanced

-

32,427

Amounts repaid

(139,226

)

(1,312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,123

)

138,103