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REGISTERED NUMBER: 07199837 (England and Wales)















Financial Statements for the Year Ended 27th March 2023

for

SILVER ARC SERVICES LTD

SILVER ARC SERVICES LTD (REGISTERED NUMBER: 07199837)






Contents of the Financial Statements
FOR THE YEAR ENDED 27TH MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SILVER ARC SERVICES LTD

Company Information
FOR THE YEAR ENDED 27TH MARCH 2023







DIRECTOR: U Zahoor





REGISTERED OFFICE: 27 Old Gloucester Street
London
United Kingdom
WC1N 3AX





REGISTERED NUMBER: 07199837 (England and Wales)





ACCOUNTANTS: Silver Arc
Chartered Certified Accountants
1 Quality Court
Chancery Lane
London
WC2A 1HR

SILVER ARC SERVICES LTD (REGISTERED NUMBER: 07199837)

Balance Sheet
27TH MARCH 2023

27/3/23 27/3/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,395 9,627

CURRENT ASSETS
Debtors 5 51,990 19,825
Cash at bank and in hand 2,702 13,305
54,692 33,130
CREDITORS
Amounts falling due within one year 6 (51,621 ) (33,885 )
NET CURRENT ASSETS/(LIABILITIES) 3,071 (755 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,466

8,872

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,366 8,772
SHAREHOLDERS' FUNDS 10,466 8,872

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27th March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 27th March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 26th December 2023 and were signed by:





U Zahoor - Director


SILVER ARC SERVICES LTD (REGISTERED NUMBER: 07199837)

Notes to the Financial Statements
FOR THE YEAR ENDED 27TH MARCH 2023

1. STATUTORY INFORMATION

Silver Arc Services 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.

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.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings - 15% Straight line basis
Computer & equipment - 20% Straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

SILVER ARC SERVICES LTD (REGISTERED NUMBER: 07199837)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 27TH MARCH 2023

2. ACCOUNTING POLICIES - continued

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 28th March 2022
and 27th March 2023 12,900
DEPRECIATION
At 28th March 2022 3,273
Charge for year 2,232
At 27th March 2023 5,505
NET BOOK VALUE
At 27th March 2023 7,395
At 27th March 2022 9,627

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27/3/23 27/3/22
£    £   
Amounts owed by associates 51,990 19,825

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27/3/23 27/3/22
£    £   
Tax 1,169 272
Other creditors 8,883 19,000
Directors' current accounts 40,969 14,013
Accrued expenses 600 600
51,621 33,885