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REGISTERED NUMBER: 06055846 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SILK TRENDS LIMITED

SILK TRENDS LIMITED (REGISTERED NUMBER: 06055846)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SILK TRENDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: I E Farrell





REGISTERED OFFICE: 202 Chingford Mount Road
Chingford
London
E4 8JR





REGISTERED NUMBER: 06055846 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

SILK TRENDS LIMITED (REGISTERED NUMBER: 06055846)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 533 -

CURRENT ASSETS
Stocks 300 500
Debtors 5 8,872 7,683
Cash at bank and in hand 31,699 42,729
40,871 50,912
CREDITORS
Amounts falling due within one year 6 36,555 46,787
NET CURRENT ASSETS 4,316 4,125
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,849

4,125

CREDITORS
Amounts falling due after more than one
year

7

6,069

6,069
NET LIABILITIES (1,220 ) (1,944 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (1,222 ) (1,946 )
SHAREHOLDERS' FUNDS (1,220 ) (1,944 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

SILK TRENDS LIMITED (REGISTERED NUMBER: 06055846)

BALANCE SHEET - continued
28 FEBRUARY 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2023 and were signed by:





I E Farrell - Director


SILK TRENDS LIMITED (REGISTERED NUMBER: 06055846)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Silk Trends 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net sales of hairdressing and hair products.

Tangible fixed assets
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Computer equipment - 4 years straight line
Other equipment - 5 years straight line

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 account, 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.

SILK TRENDS LIMITED (REGISTERED NUMBER: 06055846)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on a going concern basis on the grounds that the company will continue to receive financial support from the director.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022 9,465
Additions 590
Disposals (527 )
At 28 February 2023 9,528
DEPRECIATION
At 1 March 2022 9,465
Charge for year 57
Eliminated on disposal (527 )
At 28 February 2023 8,995
NET BOOK VALUE
At 28 February 2023 533
At 28 February 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 8,872 7,683

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 903 11,043
Corporation tax 25 453
Social security and other taxes - 56
Wages control - 1,099
Pension control 54 32
Other creditors 32,009 31,728
Accruals and deferred income 3,564 2,376
36,555 46,787

SILK TRENDS LIMITED (REGISTERED NUMBER: 06055846)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Directors' loan accounts 6,069 6,069