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Company registration number: 07479437
Silverman Research Ltd
Unaudited filleted financial statements
31 December 2023
Silverman Research Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Silverman Research Ltd
Directors and other information
Director M A Silverman
Company number 07479437
Registered office 30 Colenso Road
London
E5 0SL
Accountants Passer & Co
20 Sunningdale Close
Stanmore
HA7 3QL
Silverman Research Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Silverman Research Ltd
Year ended 31 December 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Passer & Co
20 Sunningdale Close
Stanmore
HA7 3QL
14 February 2024
Silverman Research Ltd
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 309 412
_______ _______
309 412
Current assets
Debtors 6 9,600 16
Cash at bank and in hand 2,802 3,952
_______ _______
12,402 3,968
Creditors: amounts falling due
within one year 7 ( 21,204) ( 15,500)
_______ _______
Net current liabilities ( 8,802) ( 11,532)
_______ _______
Total assets less current liabilities ( 8,493) ( 11,120)
_______ _______
Net liabilities ( 8,493) ( 11,120)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 8,494) ( 11,121)
_______ _______
Shareholders deficit ( 8,493) ( 11,120)
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 February 2024 , and are signed on behalf of the board by:
M A Silverman
Director
Company registration number: 07479437
Silverman Research Ltd
Statement of changes in equity
Year ended 31 December 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 1 ( 4,115) ( 4,114)
Profit/(loss) for the year ( 7,006) ( 7,006)
_______ _______ _______
Total comprehensive income for the year - ( 7,006) ( 7,006)
_______ _______ _______
At 31 December 2022 and 1 January 2023 1 ( 11,121) ( 11,120)
Profit/(loss) for the year 2,627 2,627
_______ _______ _______
Total comprehensive income for the year - 2,627 2,627
_______ _______ _______
At 31 December 2023 1 ( 8,494) ( 8,493)
_______ _______ _______
Silverman Research Ltd
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 30 Colenso Road, London, E5 0SL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 and 31 December 2023 4,564 4,564
_______ _______
Depreciation
At 1 January 2023 4,152 4,152
Charge for the year 103 103
_______ _______
At 31 December 2023 4,255 4,255
_______ _______
Carrying amount
At 31 December 2023 309 309
_______ _______
At 31 December 2022 412 412
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 9,600 -
Other debtors - 16
_______ _______
9,600 16
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 4,215 -
Social security and other taxes 1,489 -
Other creditors 15,500 15,500
_______ _______
21,204 15,500
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
M A Silverman ( 1,500) - ( 1,500)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
M A Silverman - ( 1,500) ( 1,500)
_______ _______ _______