Silverfin false 31/03/2023 01/04/2022 31/03/2023 P Fulton 05/09/2003 S Vaughan 18/09/2003 02 November 2023 The principal activity of the company is that of interior refurbishment and design. 04889088 2023-03-31 04889088 bus:Director1 2023-03-31 04889088 bus:Director2 2023-03-31 04889088 2022-03-31 04889088 core:CurrentFinancialInstruments 2023-03-31 04889088 core:CurrentFinancialInstruments 2022-03-31 04889088 core:ShareCapital 2023-03-31 04889088 core:ShareCapital 2022-03-31 04889088 core:RetainedEarningsAccumulatedLosses 2023-03-31 04889088 core:RetainedEarningsAccumulatedLosses 2022-03-31 04889088 core:Vehicles 2022-03-31 04889088 core:FurnitureFittings 2022-03-31 04889088 core:ComputerEquipment 2022-03-31 04889088 core:Vehicles 2023-03-31 04889088 core:FurnitureFittings 2023-03-31 04889088 core:ComputerEquipment 2023-03-31 04889088 bus:OrdinaryShareClass1 2023-03-31 04889088 2022-04-01 2023-03-31 04889088 bus:FullAccounts 2022-04-01 2023-03-31 04889088 bus:SmallEntities 2022-04-01 2023-03-31 04889088 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04889088 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04889088 bus:Director1 2022-04-01 2023-03-31 04889088 bus:Director2 2022-04-01 2023-03-31 04889088 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 04889088 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 04889088 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 04889088 2021-04-01 2022-03-31 04889088 core:Vehicles 2022-04-01 2023-03-31 04889088 core:FurnitureFittings 2022-04-01 2023-03-31 04889088 core:ComputerEquipment 2022-04-01 2023-03-31 04889088 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04889088 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04889088 (England and Wales)

SILVER INTERIORS DESIGN & BUILD LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

SILVER INTERIORS DESIGN & BUILD LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

SILVER INTERIORS DESIGN & BUILD LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
SILVER INTERIORS DESIGN & BUILD LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 0 4,023
0 4,023
Current assets
Stocks 0 71,831
Debtors 5 597,700 351,353
Cash at bank and in hand 198,511 601,502
796,211 1,024,686
Creditors: amounts falling due within one year 6 ( 475,934) ( 668,035)
Net current assets 320,277 356,651
Total assets less current liabilities 320,277 360,674
Net assets 320,277 360,674
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 320,275 360,672
Total shareholders' funds 320,277 360,674

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Silver Interiors Design & Build Limited (registered number: 04889088) were approved and authorised for issue by the Director. They were signed on its behalf by:

P Fulton
Director

02 November 2023

SILVER INTERIORS DESIGN & BUILD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
SILVER INTERIORS DESIGN & BUILD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Silver Interiors Design & Build Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Taxation

Current tax
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Vehicles 4 years straight line
Fixtures and fittings 4 years straight line
Computer equipment 4 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 24

3. Dividends on equity shares

2023 2022
£ £
Amounts recognised as distributions to equity holders in the financial year:
Final dividend for the financial year ended 31 March 2023 of £178,541 (2022: £305,000.00) per ordinary share 357,081 610,000

4. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 April 2022 158,612 106,234 16,089 280,935
At 31 March 2023 158,612 106,234 16,089 280,935
Accumulated depreciation
At 01 April 2022 158,612 106,234 12,066 276,912
Charge for the financial year 0 0 4,023 4,023
At 31 March 2023 158,612 106,234 16,089 280,935
Net book value
At 31 March 2023 0 0 0 0
At 31 March 2022 0 0 4,023 4,023

5. Debtors

2023 2022
£ £
Trade debtors 276,048 117,817
Accrued income 321,652 0
Other debtors 0 233,536
597,700 351,353

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 87,675 379,743
Accruals 82,000 10,000
Other taxation and social security 141,580 169,034
Other creditors 164,679 109,258
475,934 668,035

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 979 1,304

The company operates a defined pension contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.