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REGISTERED NUMBER: 02841198 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

SILCHESTER CONTROL SYSTEMS LIMITED

SILCHESTER CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 02841198)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

SILCHESTER CONTROL SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: M J Cottle
D A Jones



SECRETARY: D A Jones



REGISTERED OFFICE: Market House
21 Lenten Street
Alton
GU34 1HG



REGISTERED NUMBER: 02841198 (England and Wales)



ACCOUNTANTS: Wettone Matthews Limited
Chartered Certified Accountants
Market House
21 Lenten Street
Alton
GU34 1HG



BANKERS: HSBC Bank plc
58 High Street
Winchester
Hampshire
SO23 9BZ

SILCHESTER CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 02841198)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 295,198 291,545

CURRENT ASSETS
Debtors 5 213,951 147,802
Cash at bank 2,282,836 1,822,329
2,496,787 1,970,131
CREDITORS
Amounts falling due within one year 6 320,792 312,244
NET CURRENT ASSETS 2,175,995 1,657,887
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,471,193

1,949,432

CAPITAL AND RESERVES
Called up share capital 7 200 200
Share premium 8 68,848 68,848
Capital redemption reserve 8 52 52
Retained earnings 8 2,402,093 1,880,332
SHAREHOLDERS' FUNDS 2,471,193 1,949,432

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.

SILCHESTER CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 02841198)

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by:





D A Jones - Director


SILCHESTER CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 02841198)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Silchester Control Systems Limited 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 represents net invoiced sales of services, excluding value added tax, together with an adjustment for amounts recoverable on contracts, where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 1% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

SILCHESTER CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 02841198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 288,940 402 24,007 34,223 347,572
Additions - - 12,314 - 12,314
At 31 August 2023 288,940 402 36,321 34,223 359,886
DEPRECIATION
At 1 September 2022 6,760 402 21,589 27,276 56,027
Charge for year 1,690 - 3,682 3,289 8,661
At 31 August 2023 8,450 402 25,271 30,565 64,688
NET BOOK VALUE
At 31 August 2023 280,490 - 11,050 3,658 295,198
At 31 August 2022 282,180 - 2,418 6,947 291,545

The long leasehold property is held on a 999 year lease from 29 September 1999.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 190,532 85,935
Tax - 34,531
Prepayments 23,419 27,336
213,951 147,802

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 86,171 41,628
Tax 141,634 98,646
Social security and other taxes 14,628 16,418
VAT 62,140 49,559
Other creditors 4,119 3,893
Accruals and deferred income 12,100 102,100
320,792 312,244

SILCHESTER CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 02841198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150 Ordinary 'A' £1 150 150
50 Ordinary 'B' £1 50 50
200 200

Holders of 'A' Ordinary shares and 'B' Ordinary shares rank pari passu except that:-

- holders of 'B' Ordinary shares are not entitled to vote on any extraordinary resolution or special resolution.
- if there is an equality of votes between the holders of the 'A' Ordinary shares and the holders of the 'B' Ordinary shares the votes of the holders of the 'A' Ordinary shares shall prevail and the votes cast by the holders of the 'B' Ordinary shares shall be disregarded.

The Company may only issue 'B' Ordinary shares to a person who at the time of their issue is an employee of the Company. When a holder of 'B' Ordinary shares ceases to be an employee of the Company unless otherwise agreed between the holders of the 'A' Ordinary shares the said shareholder shall sell the shares for a consideration equal to their nominal value.

8. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 September 2022 1,880,332 68,848 52 1,949,232
Profit for the year 571,761 571,761
Dividends (50,000 ) (50,000 )
At 31 August 2023 2,402,093 68,848 52 2,470,993

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SILCHESTER CONTROL SYSTEMS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Silchester Control Systems Limited for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Silchester Control Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Silchester Control Systems Limited and state those matters that we have agreed to state to the Board of Directors of Silchester Control Systems Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Silchester Control Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Silchester Control Systems Limited. You consider that Silchester Control Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Silchester Control Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wettone Matthews Limited
Chartered Certified Accountants
Market House
21 Lenten Street
Alton
GU34 1HG


5 February 2024