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REGISTERED NUMBER: 02481320 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Silverline U.K Ltd

Silverline U.K Ltd (Registered number: 02481320)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Silverline U.K Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr M C Goddard
Mrs J Goddard
Mr C C Goddard





REGISTERED OFFICE: Whitemoor
Iddesleigh
Winkleigh
Devon
EX19 8BN





REGISTERED NUMBER: 02481320 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Silverline U.K Ltd (Registered number: 02481320)

Abridged Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 9,894 9,359

CURRENT ASSETS
Stocks 68,122 86,694
Debtors 75,706 73,495
Cash at bank and in hand 275,002 192,135
418,830 352,324
CREDITORS
Amounts falling due within one year 168,717 153,118
NET CURRENT ASSETS 250,113 199,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,007

208,565

PROVISIONS FOR LIABILITIES 6,979 6,869
NET ASSETS 253,028 201,696

CAPITAL AND RESERVES
Called up share capital 6 1,005 1,005
Retained earnings 252,023 200,691
SHAREHOLDERS' FUNDS 253,028 201,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Silverline U.K Ltd (Registered number: 02481320)

Abridged Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2024 and were signed on its behalf by:





Mrs J Goddard - Director


Silverline U.K Ltd (Registered number: 02481320)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Silverline U.K Ltd 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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

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

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% straight line
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Grants
Grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Grants of a revenue nature are credited to the profit and loss account in the same period as the related expenditure.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


Silverline U.K Ltd (Registered number: 02481320)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

Silverline U.K Ltd (Registered number: 02481320)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 77,429
Additions 3,518
At 31 August 2023 80,947
DEPRECIATION
At 1 September 2022 68,070
Charge for year 2,983
At 31 August 2023 71,053
NET BOOK VALUE
At 31 August 2023 9,894
At 31 August 2022 9,359


6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000
1 B £1 1 1
1 C £1 1 1
1 D £1 1 1
1 E £1 1 1
1 F £1 1 1
1,005 1,005