Silhill Investments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00653474 (England and Wales)

SILHILL INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

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

4

-

-

Investment property

5

3,169,598

2,630,710

3,169,598

2,630,710

CURRENT ASSETS

Debtors

6

20,038

26,484

Cash at bank

220,008

190,492

240,046

216,976

CREDITORS

Amounts falling due within one year

7

180,245

203,646

NET CURRENT ASSETS

59,801

13,330

TOTAL ASSETS LESS CURRENT LIABILITIES

3,229,399

2,644,040

CREDITORS

Amounts falling due after more than one year

8

-

(38,243

)

PROVISIONS FOR LIABILITIES

(152,159

)

(73,189

)

NET ASSETS

3,077,240

2,532,608

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Other reserves

1,498,519

1,038,602

Retained earnings

1,478,721

1,394,006

SHAREHOLDERS' FUNDS

3,077,240

2,532,608

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 11 December 2017 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

This is the first year that the company has presented its results under FRS 102. The last financial

statements under UK GAAP were for the year ended 31st March 2016. The date of transition to FRS

102 was 1st April 2015. The transitional adjustments arising from the first time adoption of FRS 102

are detailed below:

Reconciliation of equity

At 31/03/2016

Capital and reserves (as previously stated)

2,605,797

Deferred tax on revaluations

(73,189

)

Capital and reserves (as restated)

2,532,608

Reconciliation of profit for the year

At 31/03/2016

Profit for the year (as previously stated)

126,062

Deferred tax on revaluations

(73,189

)

Profit for the year (as restated)

2,873

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 most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

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 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

18,635

DEPRECIATION

At 1 April 2016

and 31 March 2017

18,635

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

2,630,710

Revaluations

538,888

At 31 March 2017

3,169,598

NET BOOK VALUE

At 31 March 2017

3,169,598

At 31 March 2016

2,630,710

Fair value at 31 March 2017 is represented by:

£

Valuation in 2000

409,585

Valuation in 2007

685,360

Valuation in 2009

16,845

Valuation in 2017

538,888

Cost

1,518,920

3,169,598

If investment properties had not been revalued they would have been included at the following

historical cost:

2017

2016

£

£

Cost

1,518,920

1,518,920

Investment properties were valued on an open market basis on 2 February 2017 by Pennycuick Collins

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

18,983

25,429

Other debtors

1,055

1,055

20,038

26,484

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

38,119

73,019

Taxation and social security

21,206

14,885

Other creditors

120,920

115,742

180,245

203,646

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

-

38,243

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

38,119

111,262

Debts are secured on the following properties owned by the company:

- 169, 173, 177, 179, 181 and 183 Hanover Road, The Grange, Rowley Regis, Birmingham

- 53 Heneage Road, Birmingham

- 32 Columbus Street, Birmingham

- 56 Linden Road, Smethwick

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

Miss I K C Osgood

Balance outstanding at start of year

(1,000

)

1,610

Amounts advanced

361

1,322

Amounts repaid

1,000

(3,932

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

361

(1,000

)