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Registered number: 10926743
Silver Food International Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
March Mutual Ltd
F25 Waterfront Studios
1 Dock Road
London
E16 1AH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10926743
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 801 1,202
801 1,202
CURRENT ASSETS
Stocks 4 6,404 141,096
Debtors 5 140,866 175,610
Cash at bank and in hand 233,063 200,237
380,333 516,943
Creditors: Amounts Falling Due Within One Year 6 (190,346 ) (348,912 )
NET CURRENT ASSETS (LIABILITIES) 189,987 168,031
TOTAL ASSETS LESS CURRENT LIABILITIES 190,788 169,233
NET ASSETS 190,788 169,233
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 190,784 169,229
SHAREHOLDERS' FUNDS 190,788 169,233
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Youssef Jaridi
Director
14 November 2023
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Straight Line
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.6. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

2. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
Page 3
Page 4
3. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2022 1,602
As at 31 July 2023 1,602
Depreciation
As at 1 August 2022 400
Provided during the period 401
As at 31 July 2023 801
Net Book Value
As at 31 July 2023 801
As at 1 August 2022 1,202
4. Stocks
2023 2022
£ £
Stock 6,404 141,096
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 139,969 166,076
VAT 897 9,534
140,866 175,610
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 156,681 311,781
Corporation tax 5,150 8,665
Other creditors 4,007 -
Accruals and deferred income 375 375
Director's loan account 24,133 28,091
190,346 348,912
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Page 5
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
8. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid - 6,421
- 6,421
Page 5