REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st December 2021 |
for |
SILVAFLAME-CLEERVUE CO. LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st December 2021 |
for |
SILVAFLAME-CLEERVUE CO. LTD |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Contents of the Financial Statements |
for the year ended 31st December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SILVAFLAME-CLEERVUE CO. LTD |
Company Information |
for the year ended 31st December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
(The practising name of |
Baker (Midlands) Limited) |
3rd Floor |
International House |
Hatherton Street |
Walsall |
WS4 2LA |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Balance Sheet |
31st December 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Balance Sheet - continued |
31st December 2021 |
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 |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Notes to the Financial Statements |
for the year ended 31st December 2021 |
1. | STATUTORY INFORMATION |
Silvaflame-Cleervue Co. Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.The policy adopted for the recognition of turnover is as follows: |
Sale of Goods |
Turnover from the sale of goods, rental of equipment and the provision of management services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably . This is usually on the dispatch of goods and completion of the management services. |
Goodwill |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Plant and machinery - at varying rates on cost |
Fixtures anf fittings - at varying rates of cost |
Motor vehicles - at varying rates of cost |
Computer equipment - at varying rates of cost |
The directors perform annual impairment reviews to ensure that the recoverable amount is higher than the carrying value.includes costs directly attributable to making the asset capable of operating as intended. |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2021 |
2. | ACCOUNTING POLICIES - continued |
Government grants |
The company received Coronavirus Job Retention Scheme government grants during the year ended 31st December 2021.The grant is recognised at fair value when there is reasonable assurance that the company will comply with conditions attaching to them and the grant will be received using the performance model. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stocks to its present location and condition.Cost is calculated using the first-in,first-out formula.Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2021 |
2. | ACCOUNTING POLICIES - continued |
Employee benefits |
The company provides a range of benefits to employees, including annual bonus arrangements and defined contribution pension plans. |
i. Short term benefits |
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. |
ii. Defined contribution pension plans |
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. |
Operating leases |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Cash and cash equivalents |
Cash comprises cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with an insignificant risk of change in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2021 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st January 2021 |
and 31st December 2021 |
AMORTISATION |
At 1st January 2021 |
and 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st January 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st December 2021 |
DEPRECIATION |
At 1st January 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
Included in Other debtors are Prepayments of £3,050. (2020: £4,400). |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Included in Other creditors are Accruals of £5,788. (2020: £4,819). |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Other creditors |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
Amounts falling due between one and two years: |
Other loans - 1-2 years | 42,209 |
Included in Other Creditors less than 12 months and greater than 12 months, is the Government Bounce Back Loan of £50,000 which is repayable over 60 monthly payments of £833.33 commencing December 2021 at a rate of 2.50% per annumI |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st December 2021 and 31st December 2020: |
2021 | 2020 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
SILVAFLAME-CLEERVUE CO. LTD (REGISTERED NUMBER: 06454344) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2021 |
11. | FINANCIAL COMMITMENTS |
Total financial commitments under non-cancellable operating leases which are not included in the balance sheet amount to £21,441 (2020 : £52,000). |