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REGISTERED NUMBER: SC329347 (Scotland)







Unaudited Financial Statements

For The Year Ended 30th September 2023

for

Silks (Glasgow) Limited

Silks (Glasgow) Limited (Registered number: SC329347)






Contents of the Financial Statements
For The Year Ended 30th September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Silks (Glasgow) Limited

Company Information
For The Year Ended 30th September 2023







DIRECTOR: Mrs M A Louden





SECRETARY: D G Louden





REGISTERED OFFICE: 8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP





REGISTERED NUMBER: SC329347 (Scotland)





ACCOUNTANTS: J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP

Silks (Glasgow) Limited (Registered number: SC329347)

Balance Sheet
30th September 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 25,303 31,628
Tangible assets 5 51,507 64,837
76,810 96,465

CURRENT ASSETS
Stocks 210,430 212,642
Debtors 6 3,752 801
Cash at bank and in hand 29,917 45,158
244,099 258,601
CREDITORS
Amounts falling due within one year 7 (150,530 ) (159,292 )
NET CURRENT ASSETS 93,569 99,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,379

195,774

PROVISIONS FOR LIABILITIES (8,203 ) (7,527 )
NET ASSETS 162,176 188,247

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 162,175 188,246
SHAREHOLDERS' FUNDS 162,176 188,247

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

Silks (Glasgow) Limited (Registered number: SC329347)

Balance Sheet - continued
30th September 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 director and authorised for issue on 24th November 2023 and were signed by:





Mrs M A Louden - Director


Silks (Glasgow) Limited (Registered number: SC329347)

Notes to the Financial Statements
For The Year Ended 30th September 2023

1. STATUTORY INFORMATION

Silks (Glasgow) Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 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.

Silks (Glasgow) Limited (Registered number: SC329347)

Notes to the Financial Statements - continued
For The Year Ended 30th September 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1st October 2022
and 30th September 2023 126,505
AMORTISATION
At 1st October 2022 94,877
Charge for year 6,325
At 30th September 2023 101,202
NET BOOK VALUE
At 30th September 2023 25,303
At 30th September 2022 31,628

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1st October 2022 40,178 187,047 227,225
Additions - 749 749
At 30th September 2023 40,178 187,796 227,974
DEPRECIATION
At 1st October 2022 18,555 143,833 162,388
Charge for year 3,088 10,991 14,079
At 30th September 2023 21,643 154,824 176,467
NET BOOK VALUE
At 30th September 2023 18,535 32,972 51,507
At 30th September 2022 21,623 43,214 64,837

Silks (Glasgow) Limited (Registered number: SC329347)

Notes to the Financial Statements - continued
For The Year Ended 30th September 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 3,752 801

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 18,524 16,407
Gift vouchers 10,192 10,192
Trade creditors 77,864 87,413
Taxation and social security 31,643 35,484
Other creditors 12,307 9,796
150,530 159,292

Silks (Glasgow) Limited

Report of the Accountants to the Director of
Silks (Glasgow) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th September 2023 set out on pages three to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP


24th November 2023