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REGISTERED NUMBER: 06715209 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 March 2023

for

Silverway Electrical Limited

Silverway Electrical Limited (Registered number: 06715209)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Silverway Electrical Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Sally Ive
Brian Ive





REGISTERED OFFICE: 4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ





REGISTERED NUMBER: 06715209 (England and Wales)





ACCOUNTANTS: Robert Lewis Accountants
4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ

Silverway Electrical Limited (Registered number: 06715209)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,055 6,574

CURRENT ASSETS
Stocks - 24,936
Debtors 5 5,000 8,500
Cash at bank 56,841 4,300
61,841 37,736
CREDITORS
Amounts falling due within one year 6 67,494 42,468
NET CURRENT LIABILITIES (5,653 ) (4,732 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,402

1,842

CREDITORS
Amounts falling due after more than one year 7 (22,649 ) -

PROVISIONS FOR LIABILITIES (6,850 ) (1,249 )
NET ASSETS 903 593

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 803 493
SHAREHOLDERS' FUNDS 903 593

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

Silverway Electrical Limited (Registered number: 06715209)

Balance Sheet - continued
31 March 2023


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 Board of Directors and authorised for issue on 13 September 2023 and were signed on its behalf by:




Sally Ive - Director



Brian Ive - Director


Silverway Electrical Limited (Registered number: 06715209)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Silverway Electrical 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Silverway Electrical Limited (Registered number: 06715209)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 29,757
Additions 35,843
At 31 March 2023 65,600
DEPRECIATION
At 1 April 2022 23,183
Charge for year 6,362
At 31 March 2023 29,545
NET BOOK VALUE
At 31 March 2023 36,055
At 31 March 2022 6,574

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 5,000 8,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 8,987
Hire purchase contracts 4,171 -
Trade creditors 39,904 13,939
Taxation and social security 20,825 12,941
Other creditors 2,594 6,601
67,494 42,468

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 22,649 -