2023-04-012024-03-312024-03-31false13842893SILVER LININGS GROUP 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SILVER LININGS GROUP LTD

Registered Number
13842893
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SILVER LININGS GROUP LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

BLACKMAN, James Matthew

Registered Address

2 Colchester Road
St. Osyth
Clacton-On-Sea
CO16 8HA

Registered Number

13842893 (England and Wales)
SILVER LININGS GROUP LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets317,55213,637
17,55213,637
Current assets
Debtors13,51611,400
Cash at bank and on hand4,80120,827
18,31732,227
Creditors amounts falling due within one year4(29,531)(22,862)
Net current assets (liabilities)(11,214)9,365
Total assets less current liabilities6,33823,002
Provisions for liabilities5(4,388)-
Net assets1,95023,002
Capital and reserves
Profit and loss account1,95023,002
Shareholders' funds1,95023,002
The financial statements were approved and authorised for issue by the Director on 15 April 2024, and are signed on its behalf by:
BLACKMAN, James Matthew
Director
Registered Company No. 13842893
SILVER LININGS GROUP LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 23-17,69417,694
Additions3,8375,9299,766
At 31 March 243,83723,62327,460
Depreciation and impairment
At 01 April 23-4,0574,057
Charge for year9594,8925,851
At 31 March 249598,9499,908
Net book value
At 31 March 242,87814,67417,552
At 31 March 23-13,63713,637
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,79831
Taxation and social security27,73322,831
Total29,53122,862
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,388-
Total4,388-