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REGISTERED NUMBER: 10901426 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

SILVERWOOD ASSETS LIMITED

SILVERWOOD ASSETS LIMITED (REGISTERED NUMBER: 10901426)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SILVERWOOD ASSETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr I Constant
Ms S A Chapman





REGISTERED OFFICE: Kingsgate House,
North Wing, Ground Floor
Newbury Road
Andover
Hampshire
SP10 4DU





REGISTERED NUMBER: 10901426 (England and Wales)





ACCOUNTANTS: Langdowns DFK
Chartered Accountants
Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD

SILVERWOOD ASSETS LIMITED (REGISTERED NUMBER: 10901426)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 7,191 8,759
Investments 6 11,000 -
18,191 8,759

CURRENT ASSETS
Debtors 7 163,355 197,992
Cash at bank 634,347 569,796
797,702 767,788
CREDITORS
Amounts falling due within one year 8 433,023 275,472
NET CURRENT ASSETS 364,679 492,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,870

501,075

PROVISIONS FOR LIABILITIES 1,798 1,664
NET ASSETS 381,072 499,411

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 380,972 499,311
SHAREHOLDERS' FUNDS 381,072 499,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





Mr I Constant - Director


SILVERWOOD ASSETS LIMITED (REGISTERED NUMBER: 10901426)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Silverwood Assets 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% straight line
Computer equipment - 33.33% straight line

All fixed assets are initially recorded at cost.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

SILVERWOOD ASSETS LIMITED (REGISTERED NUMBER: 10901426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 112 (2022 - 135 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 11,767 8,517 20,284
Additions - 1,462 1,462
At 30 June 2023 11,767 9,979 21,746
DEPRECIATION
At 1 July 2022 5,690 5,835 11,525
Charge for year 1,765 1,265 3,030
At 30 June 2023 7,455 7,100 14,555
NET BOOK VALUE
At 30 June 2023 4,312 2,879 7,191
At 30 June 2022 6,077 2,682 8,759

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 11,000
At 30 June 2023 11,000
NET BOOK VALUE
At 30 June 2023 11,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 135,295 169,613
Other debtors 28,060 28,379
163,355 197,992

Included in other debtors is £20,665 (2022: £19,201) in relation to prepayments and accrued income.

SILVERWOOD ASSETS LIMITED (REGISTERED NUMBER: 10901426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 149,814 199,425
Other creditors 283,209 76,047
433,023 275,472

Included in other creditors is £147,675 (2022: £3,975) in relation to accruals and deferred income.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100