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REGISTERED NUMBER: 02490546 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

SILKSTREAM COMPUTERS LIMITED

SILKSTREAM COMPUTERS LIMITED (REGISTERED NUMBER: 02490546)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SILKSTREAM COMPUTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: S S Kandola





REGISTERED OFFICE: Beckwith Barn
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT





REGISTERED NUMBER: 02490546 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

SILKSTREAM COMPUTERS LIMITED (REGISTERED NUMBER: 02490546)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 92,627 41,228
Cash at bank 6 305,832 229,725
398,459 270,953
CREDITORS
Amounts falling due within one year 7 645,613 508,327
NET CURRENT LIABILITIES (247,154 ) (237,374 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(247,154

)

(237,374

)

CREDITORS
Amounts falling due after more than one
year

8

385,000

385,000
NET LIABILITIES (632,154 ) (622,374 )

CAPITAL AND RESERVES
Called up share capital 10 150 150
Retained earnings (632,304 ) (622,524 )
SHAREHOLDERS' FUNDS (632,154 ) (622,374 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:




S S Kandola - Director


SILKSTREAM COMPUTERS LIMITED (REGISTERED NUMBER: 02490546)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Silkstream Computers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts in these financial statements are rounded to the nearest Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
At the balance sheet date the company had net liabilities of £632,154 (2022: £622,374). A proportion of the company's liabilities are represented by amounts due to related parties, who have agreed not to seek repayment of any debts due to them, until such time as the company has sufficient financial resources.

The amounts included within long term creditors are loans not payable by instalments within 2 - 5 years. Therefore the director considers it appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover represents the fair value of work derived from the company's principal activity to the extent that there is a right to consideration net of value added tax.

Where a contract is incomplete at the year end, turnover includes amounts recoverable on contracts to that date based on an appropriate proportion of the total expected consideration at completion. Invoices are not raised until a contract is complete of a valuation is received so incomplete contracts are included as amounts recoverable on contracts in the balance sheet.

Where the outcome of a contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable contract costs incurred. Any indication of a loss making contract is recognised immediately.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SILKSTREAM COMPUTERS LIMITED (REGISTERED NUMBER: 02490546)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 50,241 1,242
Other debtors 42,386 39,986
92,627 41,228

6. CASH AT BANK
2023 2022
£    £   
Bank account 305,832 229,725

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 3,681
Taxation and social security 5,280 3,359
Other creditors 640,333 501,287
645,613 508,327

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 385,000 385,000

Other loans are unsecured.

SILKSTREAM COMPUTERS LIMITED (REGISTERED NUMBER: 02490546)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

9. SECURED DEBTS

By deed dated 20th April 2009, the company established a Corporate Capital Trust. During the period ended 31st October 2009, the company gifted its assets to the trust, including its investment properties. The company still has charges registered against these properties as follows:

Legal charge held by Barclays Bank Plc dated 8 August 2001, over the property at 26 Market Place, Chalfont St Peter.

The following charges are held by National Westminster Bank Plc:

A Debenture containing a fixed and floating charges dated 10 February 2006 over the undertaking and all property and assets both present and future.

Legal charge dated 27 February 2006 over 26 Market Place, Chalfont St Peter, by way of fixed charge the benefit of all covenants and rights concerning the property and plant, machinery, fixtures, fittings, furniture, equipment, implements and utensils, the goodwill of any business carried on at the property and the proceeds of any insurance affecting the property or assets;

Legal charge dated 27 February 2006 over the Oddfellows Arms, 64 Cambridge St, Aylesbury, by way of fixed charge the benefit of all covenants and rights concerning the property and plant, machinery, fixtures, fittings, furniture, equipment, implements and utensils, the goodwill of any business carried on at the property and the proceeds of any insurance affecting the property or assets;

Legal charge dated 6 December 2006 over any liabilities owed by way of a fixed charge against any stocks, shares or bonds.

Legal charge dated 15 December 2006 over the land to the south of St Mary's Road, Longton, by way of fixed charge the benefit of all covenants and rights concerning the property and plant, machinery, fixtures, fittings, furniture, equipment, implements and utensils, the goodwill of any business carried on at the property and the proceeds of any insurance affecting the property or assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150 Ordinary £1 150 150

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors at the balance sheet date is an amount of £40,837 (2022: £40,837) due to the director of the company.

SILKSTREAM COMPUTERS LIMITED (REGISTERED NUMBER: 02490546)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

12. RELATED PARTY DISCLOSURES

Other related parties

2023 2022
£ £
Sales to a related party 110,200 118,700
Net amount due to related party 47,075 47,075

Sales shown above concern transactions with S S Kandola.

The amounts owing above concern balances with other companies in which S S Kandola is a director with a controlling interest.