Silverfin false false 31/12/2023 01/01/2023 31/12/2023 S O'Connor 19/02/1998 J O'Connor 01/04/2015 22 August 2024 The principal activity of the Company during the financial year was the manufacture of science kits. 03513550 2023-12-31 03513550 bus:Director1 2023-12-31 03513550 bus:Director2 2023-12-31 03513550 2022-12-31 03513550 core:CurrentFinancialInstruments 2023-12-31 03513550 core:CurrentFinancialInstruments 2022-12-31 03513550 core:Non-currentFinancialInstruments 2023-12-31 03513550 core:Non-currentFinancialInstruments 2022-12-31 03513550 core:ShareCapital 2023-12-31 03513550 core:ShareCapital 2022-12-31 03513550 core:RetainedEarningsAccumulatedLosses 2023-12-31 03513550 core:RetainedEarningsAccumulatedLosses 2022-12-31 03513550 core:ComputerEquipment 2022-12-31 03513550 core:ComputerEquipment 2023-12-31 03513550 core:CostValuation 2022-12-31 03513550 core:CostValuation 2023-12-31 03513550 2023-01-01 2023-12-31 03513550 bus:FilletedAccounts 2023-01-01 2023-12-31 03513550 bus:SmallEntities 2023-01-01 2023-12-31 03513550 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03513550 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03513550 bus:Director1 2023-01-01 2023-12-31 03513550 bus:Director2 2023-01-01 2023-12-31 03513550 core:ComputerEquipment 2023-01-01 2023-12-31 03513550 2022-01-01 2022-12-31 03513550 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 03513550 (England and Wales)

SCIENCE KITS LTD

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

SCIENCE KITS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SCIENCE KITS LTD

BALANCE SHEET

As at 31 December 2023
SCIENCE KITS LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,902 2,536
Investments 4 62,500 62,500
64,402 65,036
Current assets
Debtors 5 675,920 623,438
Cash at bank and in hand 18,415 9,543
694,335 632,981
Creditors: amounts falling due within one year 6 ( 113,389) ( 126,423)
Net current assets 580,946 506,558
Total assets less current liabilities 645,348 571,594
Creditors: amounts falling due after more than one year 7 ( 14,789) ( 24,943)
Net assets 630,559 546,651
Capital and reserves
Called-up share capital 2 2
Profit and loss account 630,557 546,649
Total shareholders' funds 630,559 546,651

For the financial year ending 31 December 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 Science Kits Ltd (registered number: 03513550) were approved and authorised for issue by the Board of Directors on 22 August 2024. They were signed on its behalf by:

S O'Connor
Director
SCIENCE KITS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SCIENCE KITS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Science Kits 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 Towngate House 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The principal place of business is 20 Stone House, Cranbrook, Kent, TN17 3HE.

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 £.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

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

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 January 2023 2,888 2,888
At 31 December 2023 2,888 2,888
Accumulated depreciation
At 01 January 2023 352 352
Charge for the financial year 634 634
At 31 December 2023 986 986
Net book value
At 31 December 2023 1,902 1,902
At 31 December 2022 2,536 2,536

4. Fixed asset investments

Investments in joint ventures Total
£ £
Cost or valuation before impairment
At 01 January 2023 62,500 62,500
At 31 December 2023 62,500 62,500
Carrying value at 31 December 2023 62,500 62,500
Carrying value at 31 December 2022 62,500 62,500

5. Debtors

2023 2022
£ £
Other debtors 675,920 623,438

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,141 9,892
Trade creditors 134 266
Taxation and social security 39,963 32,036
Other creditors 63,151 84,229
113,389 126,423

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 14,789 24,943

There are no amounts included above in respect of which any security has been given by the small entity.