Registered number
04230317
Silk and Mackman Services Ltd
Filleted Accounts
31 August 2023
Silk and Mackman Services Ltd
Registered number: 04230317
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 - 957
Current assets
Debtors 5 820,699 403,502
Cash at bank and in hand 707,754 706,472
1,528,453 1,109,974
Creditors: amounts falling due within one year 6 (590,518) (283,554)
Net current assets 937,934 826,420
Net assets 937,934 827,377
Capital and reserves
Called up share capital 100 100
Profit and loss account 937,834 827,277
Shareholders' funds 937,934 827,377
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Queen
Director
Approved by the board on 26 July 2024
Silk and Mackman Services Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment, Plant and machinery 25% Straight Line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 15
3 Intangible fixed assets £ £
Goodwill:
Cost
At 1 September 2022 1,000 1,000
At 31 August 2023 1,000 1,000
Amortisation
Provided during the year 1,000 1,000
At 31 August 2023 1,000 1,000
Net book value
At 31 August 2023 - -
4 Tangible fixed assets
Plant and machinery etc Total
£ £
Cost
At 1 September 2022 35,375 35,375
At 31 August 2023 35,375 35,375
Depreciation
At 1 September 2022 34,418 34,418
Charge for the year 957 957
At 31 August 2023 35,375 35,375
Net book value
At 31 August 2023 - -
At 31 August 2022 957 957
5 Debtors 2023 2022
£ £
Trade debtors 820,699 403,502
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 393,284 219,570
Amounts owed to group undertakings and undertakings in which the company has a participating interest 55,000 -
Other taxes and social security costs 87,793 55,469
Other creditors 54,441 8,515
590,518 283,554
7 Controlling party
The company is controlled by Commercial Solutions Ltd which is incorporared in England.
8 Other information
Silk and Mackman Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:New Marlborough House 90c Wrotham Road Gravesend Kent DA11 0QQ.
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