0 false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 421,131.90 421,131.90 421,131.90 xbrli:pure xbrli:shares iso4217:GBP 06690995 2022-10-01 2023-09-30 06690995 2023-09-30 06690995 2022-09-30 06690995 bus:Director1 2022-10-01 2023-09-30 06690995 core:WithinOneYear 2023-09-30 06690995 core:WithinOneYear 2022-09-30 06690995 core:AfterOneYear 2023-09-30 06690995 core:AfterOneYear 2022-09-30 06690995 core:ShareCapital 2023-09-30 06690995 core:ShareCapital 2022-09-30 06690995 core:RetainedEarningsAccumulatedLosses 2023-09-30 06690995 core:RetainedEarningsAccumulatedLosses 2022-09-30 06690995 core:LandBuildings 2023-09-30 06690995 core:LandBuildings 2022-09-30 06690995 bus:SmallEntities 2022-10-01 2023-09-30 06690995 bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 06690995 bus:FullAccounts 2022-10-01 2023-09-30 06690995 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 06690995 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 06690995
Silvercrown Luton Limited
Filleted Unaudited Financial Statements
30 September 2023
Silvercrown Luton Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
421,131.90
421,131.90
Current assets
Debtors
5
27,827.72
34,157.96
Cash at bank and in hand
79,129.92
40,014.78
-------------
------------
106,957.64
74,172.74
Creditors: amounts falling due within one year
6
572,317.23
543,073.98
-------------
-------------
Net current liabilities
465,359.59
468,901.24
-------------
-------------
Total assets less current liabilities
( 44,227.69)
( 47,769.34)
Creditors: amounts falling due after more than one year
7
79,517.94
54,064.58
-------------
-------------
Net liabilities
( 123,745.63)
( 101,833.92)
-------------
-------------
Capital and reserves
Called up share capital
1.00
1.00
Profit and loss account
( 123,746.63)
( 101,834.92)
-------------
-------------
Shareholders deficit
( 123,745.63)
( 101,833.92)
-------------
-------------
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 income and retained earnings has not been delivered.
For the year ending 30 September 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Silvercrown Luton Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 1 May 2024 , and are signed on behalf of the board by:
Mr J Telensky
Director
Company registration number: 06690995
Silvercrown Luton Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hamilton House, 80-88 Collingdon Street, Luton, Bedfprdshire, LU1 1RX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
]
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Land and buildings
£
Cost
At 1 October 2022 and 30 September 2023
421,131.90
-------------
Depreciation
At 1 October 2022 and 30 September 2023
-------------
Carrying amount
At 30 September 2023
421,131.90
-------------
At 30 September 2022
421,131.90
-------------
Tangible assets held at valuation
Revaluation will be carried out by independent valuer. .
5. Debtors
2023
2022
£
£
Trade debtors
25,266.72
32,746.48
Other debtors
2,561.00
1,411.48
------------
------------
27,827.72
34,157.96
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
517,706.05
502,366.05
Trade creditors
873.69
1,820.44
Other creditors
53,737.49
38,887.49
-------------
-------------
572,317.23
543,073.98
-------------
-------------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
79,517.94
54,064.58
------------
------------
8. Related party transactions