14 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 23,663 23,663 xbrli:pure xbrli:shares iso4217:GBP 04372035 2022-04-01 2023-03-31 04372035 2023-03-31 04372035 2022-03-31 04372035 2021-04-01 2022-03-31 04372035 2022-03-31 04372035 core:PlantMachinery 2022-04-01 2023-03-31 04372035 core:MotorVehicles 2022-04-01 2023-03-31 04372035 bus:Director1 2022-04-01 2023-03-31 04372035 core:NetGoodwill 2023-03-31 04372035 core:PlantMachinery 2022-03-31 04372035 core:MotorVehicles 2022-03-31 04372035 core:PlantMachinery 2023-03-31 04372035 core:MotorVehicles 2023-03-31 04372035 core:WithinOneYear 2023-03-31 04372035 core:WithinOneYear 2022-03-31 04372035 core:AfterOneYear 2023-03-31 04372035 core:AfterOneYear 2022-03-31 04372035 core:ShareCapital 2023-03-31 04372035 core:ShareCapital 2022-03-31 04372035 core:RetainedEarningsAccumulatedLosses 2023-03-31 04372035 core:RetainedEarningsAccumulatedLosses 2022-03-31 04372035 core:PlantMachinery 2022-03-31 04372035 core:MotorVehicles 2022-03-31 04372035 bus:SmallEntities 2022-04-01 2023-03-31 04372035 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04372035 bus:FullAccounts 2022-04-01 2023-03-31 04372035 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04372035 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04372035 core:NetGoodwill 2022-04-01 2023-03-31
Silver Saver Limited
Unaudited financial statements
31 March 2023
Company Registration Number 04372035
Silver Saver Limited
Financial statements
year ended 31 March 2023
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 6
Silver Saver Limited
Balance sheet
31 March 2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
116,601
93,763
Current assets
Stocks
235,490
270,730
Debtors
6
1,096,383
850,535
Cash at bank and in hand
248,253
70,566
------------
------------
1,580,126
1,191,831
Prepayments and accrued income
21,663
18,837
Creditors: amounts falling due within one year
7
951,926
737,503
------------
------------
Net current assets
649,863
473,165
---------
---------
Total assets less current liabilities
766,464
566,928
Creditors: amounts falling due after more than one year
8
16,467
21,706
Provisions
19,852
17,815
Accruals and deferred income
3,472
3,286
---------
---------
Net assets
726,673
524,121
---------
---------
Silver Saver Limited
Balance sheet (continued)
31 March 2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
725,673
523,121
---------
---------
Shareholders funds
726,673
524,121
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account and directors' report have not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 November 2023 , and are signed on behalf of the board by:
J E Pickersgill
Director
Company registration number: 04372035
Silver Saver Limited
Notes to the financial statements
year ended 31 March 2023
1. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
2. Accounting policies
2.1 Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2 Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
2.3 Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
2.4 Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
on a straight line basis over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.5 Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
2.6 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
2.7 Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
2.8 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2022: 16 ).
4. Intangible assets
Goodwill
Cost
At 1 Apr 2022 and 31 Mar 2023
23,663
--------
Amortisation
At 1 Apr 2022 and 31 Mar 2023
23,663
--------
Carrying amount
At 31 March 2023
--------
5. Tangible assets
Plant and machinery
Motor vehicles
Total
Cost
At 1 April 2022
164,434
49,151
213,585
Additions
9,158
34,000
43,158
Disposals
( 21,154)
( 21,154)
---------
--------
---------
At 31 March 2023
173,592
61,997
235,589
---------
--------
---------
Depreciation
At 1 April 2022
91,859
27,963
119,822
Charge for the year
10,107
5,297
15,404
Disposals
( 16,238)
( 16,238)
---------
--------
---------
At 31 March 2023
101,966
17,022
118,988
---------
--------
---------
Carrying amount
At 31 March 2023
71,626
44,975
116,601
---------
--------
---------
At 31 March 2022
72,575
21,188
93,763
---------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
734,248
434,900
Other debtors
362,135
415,635
------------
---------
1,096,383
850,535
------------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,600
9,019
Trade creditors
753,526
560,033
Corporation tax
56,945
13,618
Social security and other taxes
17,737
6,384
Other creditors
116,118
148,449
---------
---------
951,926
737,503
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
16,467
21,706
--------
--------
9. Related party transactions
Included in other debtors is an amount of £362,135 (2022 - £415,635) owed by Misson Mill Ltd, a company incorporated in England (company number 10503175) sharing common directors and shareholders.
10. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 1 Misson Mill, Misson, Near Bawtry, Doncaster, South Yorkshire.