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REGISTERED NUMBER: 08148445 (England and Wales)















SILCOX STORES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






SILCOX STORES LIMITED (REGISTERED NUMBER: 08148445)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SILCOX STORES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: K Silcox
D Silcox





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 08148445 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

SILCOX STORES LIMITED (REGISTERED NUMBER: 08148445)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 6,000
Tangible assets 5 46,771 39,804
49,771 45,804

CURRENT ASSETS
Stocks 69,971 69,603
Debtors 6 36,982 36,485
Cash at bank and in hand 377,846 317,359
484,799 423,447
CREDITORS
Amounts falling due within one year 7 208,695 225,000
NET CURRENT ASSETS 276,104 198,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,875

244,251

PROVISIONS FOR LIABILITIES 8,886 7,563
NET ASSETS 316,989 236,688

SILCOX STORES LIMITED (REGISTERED NUMBER: 08148445)

BALANCE SHEET - continued
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 316,889 236,588
SHAREHOLDERS' FUNDS 316,989 236,688

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th October 2023 and were signed on its behalf by:





D Silcox - Director


SILCOX STORES LIMITED (REGISTERED NUMBER: 08148445)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Silcox Stores 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.


SILCOX STORES LIMITED (REGISTERED NUMBER: 08148445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 24 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 60,000
AMORTISATION
At 1st April 2022 54,000
Charge for year 3,000
At 31st March 2023 57,000
NET BOOK VALUE
At 31st March 2023 3,000
At 31st March 2022 6,000

SILCOX STORES LIMITED (REGISTERED NUMBER: 08148445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2022 74,081 42,387 116,468
Additions - 26,650 26,650
Disposals - (13,995 ) (13,995 )
At 31st March 2023 74,081 55,042 129,123
DEPRECIATION
At 1st April 2022 46,917 29,747 76,664
Charge for year 5,433 8,346 13,779
Eliminated on disposal - (8,091 ) (8,091 )
At 31st March 2023 52,350 30,002 82,352
NET BOOK VALUE
At 31st March 2023 21,731 25,040 46,771
At 31st March 2022 27,164 12,640 39,804

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 80 -
Other debtors 32,566 32,149
Tax 4,336 4,336
36,982 36,485

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 52,434 89,437
Corporation Tax 25,311 26,917
Pensions 160 320
VAT 13,712 16,553
Other creditors 564 4,646
Directors' current accounts 98,082 79,636
Accruals and deferred income 18,432 7,491
208,695 225,000

SILCOX STORES LIMITED (REGISTERED NUMBER: 08148445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

As at 31 March 2023 D Silcox was owed £49,340 (2022: £40,176) and K Silcox was owed £48,742 (2022: £39,460).

During the year the company paid rent of £46,000 to D Silcox and K Silcox (directors and shareholders of the company) for the use of the freehold property jointly owned by them.