Acorah Software Products - Accounts Production 15.0.400 false true true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 08189765 Mr Olivier Herry Olivier Herry true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08189765 2022-08-31 08189765 2023-08-31 08189765 2022-09-01 2023-08-31 08189765 frs-core:CurrentFinancialInstruments 2023-08-31 08189765 frs-core:Non-currentFinancialInstruments 2023-08-31 08189765 frs-core:ShareCapital 2023-08-31 08189765 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 08189765 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08189765 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 08189765 frs-bus:SmallEntities 2022-09-01 2023-08-31 08189765 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 08189765 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 08189765 1 2022-09-01 2023-08-31 08189765 frs-bus:Director1 2022-09-01 2023-08-31 08189765 frs-core:Non-currentFinancialInstruments 1 2023-08-31 08189765 frs-core:Non-currentFinancialInstruments 2 2023-08-31 08189765 frs-countries:EnglandWales 2022-09-01 2023-08-31 08189765 2021-08-31 08189765 2022-08-31 08189765 2021-09-01 2022-08-31 08189765 frs-core:CurrentFinancialInstruments 2022-08-31 08189765 frs-core:Non-currentFinancialInstruments 2022-08-31 08189765 frs-core:ShareCapital 2022-08-31 08189765 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31 08189765 frs-core:Non-currentFinancialInstruments 1 2022-08-31 08189765 frs-core:Non-currentFinancialInstruments 2 2022-08-31
Registered number: 08189765
Silvermate Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Adbell International Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08189765
2023 2022
Notes
CURRENT ASSETS
Debtors 4 2,067,815 953,900
Cash at bank and in hand 538,460 26,362
2,606,275 980,262
Creditors: Amounts Falling Due Within One Year 5 - (440 )
NET CURRENT ASSETS (LIABILITIES) 2,606,275 979,822
TOTAL ASSETS LESS CURRENT LIABILITIES 2,606,275 979,822
Creditors: Amounts Falling Due After More Than One Year 6 (2,764,217 ) (1,005,852 )
NET LIABILITIES (157,942 ) (26,030 )
CAPITAL AND RESERVES
Called up share capital 7 127 127
Profit and Loss Account (158,069 ) (26,157 )
SHAREHOLDERS' FUNDS (157,942) (26,030)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Olivier Herry
Director
23/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Silvermate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08189765 . The registered office is Birchin Court , 20 Birchin Lane, London, EC3V 9DJ.
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
The company's functional currency is € Euro/ £ Sterling and the presentation currency is € Euro.
2.2. Going Concern Disclosure
The financial statements are prepared on the basis of the going concern, which assumes that the company will be in operational existence for the foreseeable future. This depends upon continued support of the shareholders. The financial statements do not include any adjustments that would result if such support is withdrawn.
2.3. Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. 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.
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
2.6. Foreign currencies
Assets and liabilities in foreign currencies are translated into euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euros at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Page 3
Page 4
2.7. Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
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.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method
2.8. Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Debtors
2023 2022
Due within one year
Other debtors 12,688 8,773
Called up share capital not paid 127 127
12,815 8,900
Due after more than one year
Amounts recoverable on contracts 2,055,000 945,000
2,067,815 953,900
5. Creditors: Amounts Falling Due Within One Year
2023 2022
Corporation tax - 440
Page 4
Page 5
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
Other creditors (1) 766,390 766,390
Other creditors (2) 1,997,827 239,462
2,764,217 1,005,852
7. Share Capital
2023 2022
Called Up Share Capital not Paid 127 127
Amount of Allotted, Called Up Share Capital 127 127
Allotted and issued 100 ordinary shares in £1 nominal value each.
8. Ultimate Controlling Party
The company's ultimate controlling party is Olivier Herry by virtue of his ownership of 100% of the issued share capital in the company.
Page 5