false false false false false false false false false true false false false false false false false No description of principal activity 2017-07-01 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP 02673851 2017-07-01 2018-06-30 02673851 2018-06-30 02673851 2017-06-30 02673851 2016-07-01 2017-06-30 02673851 2017-06-30 02673851 core:FurnitureFittings 2017-07-01 2018-06-30 02673851 bus:Director2 2017-07-01 2018-06-30 02673851 core:FurnitureFittings 2017-06-30 02673851 core:LandBuildings 2018-06-30 02673851 core:FurnitureFittings 2018-06-30 02673851 core:WithinOneYear 2018-06-30 02673851 core:WithinOneYear 2017-06-30 02673851 core:AfterOneYear 2018-06-30 02673851 core:AfterOneYear 2017-06-30 02673851 core:ShareCapital 2018-06-30 02673851 core:ShareCapital 2017-06-30 02673851 core:RevaluationReserve 2018-06-30 02673851 core:RevaluationReserve 2017-06-30 02673851 core:RetainedEarningsAccumulatedLosses 2018-06-30 02673851 core:RetainedEarningsAccumulatedLosses 2017-06-30 02673851 core:LandBuildings 2017-06-30 02673851 core:FurnitureFittings 2017-06-30 02673851 bus:SmallEntities 2017-07-01 2018-06-30 02673851 bus:AuditExemptWithAccountantsReport 2017-07-01 2018-06-30 02673851 bus:FullAccounts 2017-07-01 2018-06-30 02673851 bus:SmallCompaniesRegimeForAccounts 2017-07-01 2018-06-30 02673851 bus:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30
COMPANY REGISTRATION NUMBER: 02673851
Silverleaf Properties Limited
Filleted Unaudited Financial Statements
30 June 2018
Silverleaf Properties Limited
Statement of Financial Position
30 June 2018
2018
2017
Note
£
£
£
Fixed Assets
Tangible assets
5
350,037
350,049
Current Assets
Cash at bank and in hand
6,262
3,063
Creditors: amounts falling due within one year
6
67,344
40,104
--------
--------
Net Current Liabilities
61,082
37,041
---------
---------
Total Assets Less Current Liabilities
288,955
313,008
Creditors: amounts falling due after more than one year
7
25,685
66,950
---------
---------
Net Assets
263,270
246,058
---------
---------
Capital and Reserves
Called up share capital
2
2
Revaluation reserve
234,256
234,256
Profit and loss account
29,012
11,800
---------
---------
Shareholders Funds
263,270
246,058
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Silverleaf Properties Limited
Statement of Financial Position (continued)
30 June 2018
These financial statements were approved by the board of directors and authorised for issue on 11 January 2019 , and are signed on behalf of the board by:
K Hails
Director
Company registration number: 02673851
Silverleaf Properties Limited
Notes to the Financial Statements
Year ended 30 June 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Long Meadow House, Beamish, Stanley, County Durham, DH9 0RL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer
-
25% reducing balance
Freehold Property - No depreciation is charged against freehold property as the director believes the net book value in the accounts accurately reflects the market value.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 July 2017 and 30 June 2018
350,001
2,035
352,036
---------
-------
---------
Depreciation
At 1 July 2017
1,987
1,987
Charge for the year
12
12
---------
-------
---------
At 30 June 2018
1,999
1,999
---------
-------
---------
Carrying amount
At 30 June 2018
350,001
36
350,037
---------
-------
---------
At 30 June 2017
350,001
48
350,049
---------
-------
---------
Tangible assets held at valuation
The property was revalued on 4th July 2008 by Thomas Madrell B.A. (Dunelm), M.R.I.C.S. on the open market capital value basis.
6. Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
4,950
4,800
Trade creditors
26,689
Corporation tax
7,559
6,816
Other creditors
28,146
28,488
--------
--------
67,344
40,104
--------
--------
7. Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
22,977
27,981
Other creditors
2,708
38,969
--------
--------
25,685
66,950
--------
--------
8. Director's advances, credits and guarantees
Included in creditors: amounts falling due within one year is a directors loan balance of £25,000 (2017: £25,000). Included in creditors: amounts falling due after more than one year is a directors loan balance of £2,708(2017: £38,968).
9. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities.