Registered number
14520354
Silverlight Security Limited
Report and Accounts
31 December 2023
TRUEMAN BROWN
CHARTERED ACCOUNTANTS
7 FOXGLOVE ROAD
SOUTH OCKENDON
ESSEX. RM15 6EU
Silverlight Security Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6
Silverlight Security Limited
Company Information
Directors
Rhys Bullen
Accountants
Trueman Brown
7 Foxglove Road
South Ockendon
Essex
RM15 6EU
Registered office
2 Lysander Grove
Maldon
Essex
CM9 6HB
Registered number
14520354
Silverlight Security Limited
Registered number: 14520354
Directors' Report
The directors present their report and accounts for the period ended 31 December 2023.
Principal activities
The company was incorporated on 2nd December 2023. The company started trading on 1st January 2023. The company's principal activity during the year was the provision and fitting of security systems.
Directors
The following persons served as directors during the period:
Rhys Bullen
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 3 April 2024 and signed on its behalf.
Rhys Pullen
Director
Silverlight Security Limited
Profit and Loss Account
for the period from 2 December 2022 to 31 December 2023
2023
£
Turnover 212,996
Cost of sales (145,292)
Gross profit 67,704
Administrative expenses (38,406)
Operating profit 29,298
Interest payable (816)
Profit before taxation 28,482
Tax on profit (5,691)
Profit for the period 22,791
Silverlight Security Limited
Registered number: 14520354
Balance Sheet
as at 31 December 2023
Notes 2023
£
Fixed assets
Tangible assets 3 26,017
Current assets
Debtors 4 15,395
Cash at bank and in hand 5,385
20,780
Creditors: amounts falling due within one year 5 (9,516)
Net current assets 11,264
Total assets less current liabilities 37,281
Creditors: amounts falling due after more than one year 6 (25,946)
Provisions for liabilities (4,943)
Net assets 6,392
Capital and reserves
Called up share capital 1
Profit and loss account 6,391
Shareholders' funds 6,392
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rhys Pullen
Director
Approved by the board on 3 April 2024
Silverlight Security Limited
Statement of Changes in Equity
for the period from 2 December 2022 to 31 December 2023
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 2 December 2022 - - - - -
Profit for the period 22,791 22,791
Dividends (16,400) (16,400)
Shares issued 1 - 1
At 31 December 2023 1 - - 6,391 6,392
Silverlight Security Limited
Notes to the Accounts
for the period from 2 December 2022 to 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Motor vehicles
£
Cost
Additions 32,521
At 31 December 2023 32,521
Depreciation
Charge for the period 6,504
At 31 December 2023 6,504
Net book value
At 31 December 2023 26,017
4 Debtors 2023
£
Trade debtors 15,395
5 Creditors: amounts falling due within one year 2023
£
Obligations under finance lease and hire purchase contracts 5,342
Trade creditors 4
Taxation and social security costs 3,070
Other creditors 1,100
9,516
6 Creditors: amounts falling due after one year 2023
£
Obligations under finance lease and hire purchase contracts 25,946
7 Related party transactions
During the period, the ultimate controlling party is the director, Rhys Bullen, by virtue of controlling the entire share capital of the company.
8 Other information
Silverlight Security Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Lysander Grove
Maldon
Essex
CM9 6HB
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