Registered number
04201525
SILCRESS LTD
Filleted Accounts
30 September 2023
SILCRESS LTD
Registered number: 04201525
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 3,139 -
Tangible assets 4 8,082 5,733
11,221 5,733
Current assets
Stocks 5,155 6,382
Debtors 5 9,253 13,861
Cash at bank and in hand 28,116 43,699
42,524 63,942
Creditors: amounts falling due within one year 6 (30,681) (42,082)
Net current assets 11,843 21,860
Total assets less current liabilities 23,064 27,593
Provisions for liabilities (1,536) (1,089)
Net assets 21,528 26,504
Capital and reserves
Called up share capital 99 99
Capital redemption reserve 1 1
Profit and loss account 21,428 26,404
Shareholders' funds 21,528 26,504
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
JORDAN BALE
Director
Approved by the board on 23 October 2023
SILCRESS LTD
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment, furniture and fixtures 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 14
3 Intangible fixed assets £
Cost
At 1 October 2022 Goodwill 3,498
Additions Lease 3,270
At 30 September 2023 6,768
Amortisation
At 1 October 2022 Goodwill 3,498
Provided during the year Lease 131
At 30 September 2023 3,629
Net book value
At 30 September 2023 Lease 3,139
Goodwill was written off in equal annual instalments over its estimated economic life of 20 years.
The lease is amortised over its term of 25 years.
4 Tangible fixed assets
Equipment, furniture & fixtures
£
Cost
At 1 October 2022 63,937
Additions 5,043
At 30 September 2023 68,980
Depreciation
At 1 October 2022 58,204
Charge for the year 2,694
At 30 September 2023 60,898
Net book value
At 30 September 2023 8,082
At 30 September 2022 5,733
5 Debtors 2023 2022
£ £
Prepayments 9,253 13,861
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,738 9,017
Taxation and social security costs 26,208 32,082
Other creditors 735 983
30,681 42,082
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 3,139 -
8 Controlling party
The company is under the control of its three directors, Jordan Bale, Lauren Boyd and Gemma O'Brien, who each own 1/3 of the company's shares.
9 Other information
SILCRESS LTD is a private company limited by shares and incorporated in England. Its registered office is:
6 Lyndwood Parade
Saint Lukes Road
Old Windsor
Berkshire SL4 2QX
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