Silhill Investments Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00653474 (England and Wales)

SILHILL INVESTMENTS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Ms M F Evans

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

2

-

Investment property

3

2,630,710

2,833,988

2,630,710

2,833,988

CURRENT ASSETS

Debtors

26,484

31,878

Cash at bank

190,492

114,941

216,976

146,819

CREDITORS

Amounts falling due within one year

4

203,646

216,061

NET CURRENT ASSETS/(LIABILITIES)

13,330

(69,242

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,644,040

2,764,746

CREDITORS

Amounts falling due after more than one
year

4

38,243

111,238

NET ASSETS

2,605,797

2,653,508

CAPITAL AND RESERVES

Called up share capital

5

100,000

Revaluation reserve

1,111,791

1,285,564

Profit and loss account

1,394,006

1,267,944

SHAREHOLDERS' FUNDS

2,605,797

2,653,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 December 2016 and were signed on
its behalf by:

Miss I K C Osgood - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective January 2015).

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

-

25% on cost

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising

from changes in market value is transferred to the revaluation reserve.

Properties are regarded as investments and in accordance with SSAP 19 no depreciation is provided.

This conflicts with the Companies Act 2006 which requires land and buildings to be depreciated over

their expected useful economic lives. The directors consider that, as these properties are held for

investment purposes, to depreciate them would not give a true and fair view. It is company policy to

maintain the properties in a good state of repair and these costs are charged to the profit and loss

account in the year during which they are incurred.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Other operating income

Other operating income includes income from the extension of leases. Lease extension income is

recognised on a contractual basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

18,635

DEPRECIATION

At 1 April 2015

and 31 March 2016

18,635

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2015

2,833,988

Disposals

(203,278

)

At 31 March 2016

2,630,710

NET BOOK VALUE

At 31 March 2016

2,630,710

At 31 March 2015

2,833,988

4.

CREDITORS

Creditors include an amount of £ 111,262 (2015 - £ 182,996 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100,000

Ordinary

£1

100,000

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and

31 March 2015:

2016

2015

£

Miss I K C Osgood

Balance outstanding at start of year

1,610

(1,734

)

Amounts advanced

1,322

4,666

Amounts repaid

(3,932

)

(1,322

)

Balance outstanding at end of year

(1,000

)

1,610