Acorah Software Products - Accounts Production 15.0.500 false true true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 08646914 Mr Richard Wilson Mr Sean Adams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08646914 2022-07-31 08646914 2023-07-31 08646914 2022-08-01 2023-07-31 08646914 frs-core:CurrentFinancialInstruments 2023-07-31 08646914 frs-core:Non-currentFinancialInstruments 2023-07-31 08646914 frs-core:ComputerEquipment 2023-07-31 08646914 frs-core:ComputerEquipment 2022-08-01 2023-07-31 08646914 frs-core:ComputerEquipment 2022-07-31 08646914 frs-core:FurnitureFittings 2023-07-31 08646914 frs-core:FurnitureFittings 2022-08-01 2023-07-31 08646914 frs-core:FurnitureFittings 2022-07-31 08646914 frs-core:PlantMachinery 2023-07-31 08646914 frs-core:PlantMachinery 2022-08-01 2023-07-31 08646914 frs-core:PlantMachinery 2022-07-31 08646914 frs-core:ShareCapital 2023-07-31 08646914 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 08646914 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08646914 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 08646914 frs-bus:SmallEntities 2022-08-01 2023-07-31 08646914 frs-bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 08646914 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 08646914 frs-bus:OrdinaryShareClass1 2022-08-01 2023-07-31 08646914 frs-bus:OrdinaryShareClass1 2023-07-31 08646914 frs-core:DeferredTaxation 2022-08-01 2023-07-31 08646914 frs-core:DeferredTaxation 2022-07-31 08646914 frs-core:DeferredTaxation 2023-07-31 08646914 frs-bus:Director1 2022-08-01 2023-07-31 08646914 frs-bus:Director2 2022-08-01 2023-07-31 08646914 frs-countries:EnglandWales 2022-08-01 2023-07-31 08646914 2021-07-31 08646914 2022-07-31 08646914 2021-08-01 2022-07-31 08646914 frs-core:CurrentFinancialInstruments 2022-07-31 08646914 frs-core:Non-currentFinancialInstruments 2022-07-31 08646914 frs-core:ShareCapital 2022-07-31 08646914 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 08646914 frs-bus:OrdinaryShareClass1 2021-08-01 2022-07-31
Registered number: 08646914
Silverpoint Display Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Silverpoint Display Limited For The Year Ended 31 July 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Silverpoint Display Limited which comprise the Profit and Loss Account, the 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 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/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Silverpoint Display Limited , as a body, in accordance with the terms of our engagement letter dated 23 May 2024. Our work has been undertaken solely to prepare for your approval the accounts of Silverpoint Display Limited and state those matters that we have agreed to state to the directors of Silverpoint Display Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Silverpoint Display Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Silverpoint Display Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Silverpoint Display Limited . You consider that Silverpoint Display 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 accounts of Silverpoint Display 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 financial statements.
Signed
11th June 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 08646914
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,148 9,159
8,148 9,159
CURRENT ASSETS
Stocks 5 135 2,445
Debtors 6 269,054 301,850
Cash at bank and in hand 22,483 49,848
291,672 354,143
Creditors: Amounts Falling Due Within One Year 7 (415,578 ) (432,662 )
NET CURRENT ASSETS (LIABILITIES) (123,906 ) (78,519 )
TOTAL ASSETS LESS CURRENT LIABILITIES (115,758 ) (69,360 )
Creditors: Amounts Falling Due After More Than One Year 8 (19,230 ) (28,988 )
NET LIABILITIES (134,988 ) (98,348 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (135,088 ) (98,448 )
SHAREHOLDERS' FUNDS (134,988) (98,348)
Page 2
Page 3
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Wilson
Director
23rd July 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Silverpoint Display Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08646914 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.
Principal place of trade is; Pepper House, 1 Pepper Road, Hazel Grove, Stockport, SK7 5DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis. This assumption may not be valid since at the
balance sheet date the company has net liabilities of £150,775 (2022: £98,348). The validity of the going concern assumption therefore depends on the continued support of the directors, suppliers and the company's bankers and other providers of finance.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 15% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. 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.
Page 4
Page 5
2.8. Pensions
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.
2.9. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 6)
5 6
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 9,301 3,292 8,453 21,046
Additions - 814 - 814
As at 31 July 2023 9,301 4,106 8,453 21,860
Depreciation
As at 1 August 2022 5,377 823 5,687 11,887
Provided during the period 589 821 415 1,825
As at 31 July 2023 5,966 1,644 6,102 13,712
Net Book Value
As at 31 July 2023 3,335 2,462 2,351 8,148
As at 1 August 2022 3,924 2,469 2,766 9,159
5. Stocks
2023 2022
£ £
Finished goods 135 2,445
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 102,368 158,538
Other debtors 11,137 53,431
113,505 211,969
...CONTINUED
Page 5
Page 6
Due after more than one year
Amounts owed by group undertakings 92,385 89,881
Other debtors 63,164 -
155,549 89,881
269,054 301,850
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 318,829 353,704
Bank loans and overdrafts 10,648 10,648
Other creditors 10,625 13,921
Taxation and social security 75,476 54,389
415,578 432,662
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 19,230 28,988
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 August 2022 (6,141 ) (6,141)
Additions (57,023 ) (57,023)
Balance at 31 July 2023 (63,164 ) (63,164)
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
Page 6