Silverfin false false 31/08/2023 01/09/2022 31/08/2023 C S Negus 01/08/2019 R A Negus 01/08/2019 01 May 2024 The principal activity of the Company during the financial year was transport support activities. 12132965 2023-08-31 12132965 bus:Director1 2023-08-31 12132965 bus:Director2 2023-08-31 12132965 2022-08-31 12132965 core:CurrentFinancialInstruments 2023-08-31 12132965 core:CurrentFinancialInstruments 2022-08-31 12132965 core:ShareCapital 2023-08-31 12132965 core:ShareCapital 2022-08-31 12132965 core:RetainedEarningsAccumulatedLosses 2023-08-31 12132965 core:RetainedEarningsAccumulatedLosses 2022-08-31 12132965 core:OtherResidualIntangibleAssets 2022-08-31 12132965 core:OtherResidualIntangibleAssets 2023-08-31 12132965 2022-09-01 2023-08-31 12132965 bus:FilletedAccounts 2022-09-01 2023-08-31 12132965 bus:SmallEntities 2022-09-01 2023-08-31 12132965 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12132965 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12132965 bus:Director1 2022-09-01 2023-08-31 12132965 bus:Director2 2022-09-01 2023-08-31 12132965 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-09-01 2023-08-31 12132965 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure

Company No: 12132965 (England and Wales)

SFS TRADING CO LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

SFS TRADING CO LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

SFS TRADING CO LIMITED

BALANCE SHEET

As at 31 August 2023
SFS TRADING CO LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Current assets
Stocks 4 16,292 7,225
Debtors 5 25,865 36,142
Cash at bank and in hand 27,305 29,819
69,462 73,186
Creditors: amounts falling due within one year 6 ( 44,439) ( 57,753)
Net current assets 25,023 15,433
Total assets less current liabilities 25,023 15,433
Net assets 25,023 15,433
Capital and reserves
Called-up share capital 100 100
Profit and loss account 24,923 15,333
Total shareholder's funds 25,023 15,433

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of SFS Trading Co Limited (registered number: 12132965) were approved and authorised for issue by the Board of Directors on 01 May 2024. They were signed on its behalf by:

R A Negus
Director
SFS TRADING CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
SFS TRADING CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SFS Trading Co Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Units E F & G Griffin Industrial Park, Totton, Southampton, SO40 3SH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 September 2022 1,156 1,156
At 31 August 2023 1,156 1,156
Accumulated amortisation
At 01 September 2022 1,156 1,156
At 31 August 2023 1,156 1,156
Net book value
At 31 August 2023 0 0
At 31 August 2022 0 0

4. Stocks

2023 2022
£ £
Stocks 16,292 7,225

5. Debtors

2023 2022
£ £
Trade debtors 24,436 36,042
Other debtors 1,429 100
25,865 36,142

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 3,679 31,028
Amounts owed to Group undertakings 35,890 14,475
Taxation and social security 1,663 5,311
Other creditors 3,207 6,939
44,439 57,753

7. Ultimate controlling party

Parent Company:

Southampton Freight Services Ltd