REGISTERED NUMBER: 09719458 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

SILVERLINE CONSTRUCTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Phillips

REGISTERED OFFICE:

103 Newland Road

Worthing

West Sussex

BN11 1LB

REGISTERED NUMBER:

09719458 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

FIXED ASSETS

Tangible assets

4

15,614

23,401

CURRENT ASSETS

Stocks

5

19,475

19,475

Debtors

6

-

562

Cash at bank

97,749

25,946

117,224

45,983

CREDITORS

Amounts falling due within one year

7

93,021

56,591

NET CURRENT ASSETS/(LIABILITIES)

24,203

(10,608

)

TOTAL ASSETS LESS CURRENT LIABILITIES

39,817

12,793

PROVISIONS FOR LIABILITIES

8

3,358

4,446

NET ASSETS

36,459

8,347

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

36,457

8,345

SHAREHOLDERS' FUNDS

36,459

8,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:

J Phillips - Director

1.	STATUTORY INFORMATION

Silverline Construction 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on reducing balance

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 August 2022

and 31 July 2023

28,392

15,500

43,892

DEPRECIATION

At 1 August 2022

12,741

7,750

20,491

Charge for year

3,912

3,875

7,787

At 31 July 2023

16,653

11,625

28,278

NET BOOK VALUE

At 31 July 2023

11,739

3,875

15,614

At 31 July 2022

15,651

7,750

23,401

5.

STOCKS

2023

2022

£

£

Work-in-progress

19,475

19,475

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

VAT

-

562

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

858

-

Credit Card Control

-

8,668

Capital on Tap - Credit Card

5,900

-

Tax

24,417

2,383

Social security and other taxes

297

134

VAT

17,425

-

Directors' current accounts

42,874

44,281

Accrued expenses

1,250

1,125

93,021

56,591

8.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

Deferred Tax Provision B/Fwd

4,446

5,934

Deferred Tax Provision in Year

(1,088

)

(1,488

)

3,358

4,446

Deferred

tax

£

Balance at 1 August 2022

4,446

Provided during year

(1,088

)

Accelerated Capital Allowances

Balance at 31 July 2023

3,358

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, Mr J Phillips decreased his loan to the company. As at 31st July 2023, the company owed him £42,874 (2022: £44,282). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

As there is no majority shareholder the company is controlled by the Board.