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Registered Number: 13069220
England and Wales

 

 

 

SILKOAK LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Intangible fixed assets 3 36,000    36,000 
Tangible fixed assets 4 17,703   
53,703    36,000 
Current assets      
Debtors 128,489    15,466 
Cash at bank and in hand 6,182    6,653 
134,671    22,119 
Creditors: amount falling due within one year (108,136)   (11,256)
Net current assets 26,535    10,863 
 
Total assets less current liabilities 80,238    46,863 
Creditors: amount falling due after more than one year   (44,901)
Net assets 80,238    1,962 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 80,236    1,960 
Shareholder's funds 80,238    1,962 
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 September 2023 and were signed on its behalf by:


-------------------------------
Christopher Chidochashe Mapfidza
Director
1
General Information
SILKOAK LTD is a private company, limited by shares, registered in England and Wales, registration number 13069220, registration address Lancaster House, Sherwood Rise, Nottingham, NG7 6JE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Franchise Fees
Franchise Fees is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Franchise Fees of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 18% Reducing Balance
Fixtures and Fittings 18% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 55 (2021 : 53).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 January 2022  
Additions 36,000    36,000 
Disposals  
At 31 December 2022 36,000    36,000 
Amortisation
At 01 January 2022  
Charge for year  
On disposals  
At 31 December 2022  
Net book values
At 31 December 2022 36,000    36,000 
At 31 December 2021  


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 January 2022      
Additions 13,000    3,310    2,000    18,310 
Disposals      
At 31 December 2022 13,000    3,310    2,000    18,310 
Depreciation
At 01 January 2022      
Charge for year   397    210    607 
On disposals      
At 31 December 2022   397    210    607 
Net book values
Closing balance as at 31 December 2022 13,000    2,913    1,790    17,703 
Opening balance as at 01 January 2022      


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