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The Silver Goose Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Clouders (Audit & Accounts) Ltd
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 October 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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
29/08/2024
Clouders (Audit & Accounts) Ltd
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL
Page 1
Page 2
Balance Sheet
Registered number: 13671513
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,261 7,576
6,261 7,576
CURRENT ASSETS
Stocks 5 12,000 4,000
Debtors 6 - 267
Cash at bank and in hand 3,070 2,700
15,070 6,967
Creditors: Amounts Falling Due Within One Year 7 (43,196 ) (27,094 )
NET CURRENT ASSETS (LIABILITIES) (28,126 ) (20,127 )
TOTAL ASSETS LESS CURRENT LIABILITIES (21,865 ) (12,551 )
NET LIABILITIES (21,865 ) (12,551 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (21,965 ) (12,651 )
SHAREHOLDERS' FUNDS (21,865) (12,551)
Page 2
Page 3
For the year ending 31 October 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
A R Coverly
Director
T A Jennings
Director
29/08/2024
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
The Silver Goose Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13671513 . The registered office is 29 The Willows, Daventry, Northants, NN11 0PY.
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 accounts have been drawn up on the going concern basis. Of the company's liabilities, £41,209 (2022 £26,060 ) is owed to the directors. The directors have agreed not to seek repayment of these debts until the company has sufficient funds to trade for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets.
2.2. 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.
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.
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.
2.3. 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 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on cost
2.4. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 3,537 2,500 1,077 1,065 8,179
Additions 768 - - - 768
As at 31 October 2023 4,305 2,500 1,077 1,065 8,947
Depreciation
As at 1 November 2022 116 52 174 261 603
Provided during the period 979 612 226 266 2,083
As at 31 October 2023 1,095 664 400 527 2,686
Net Book Value
As at 31 October 2023 3,210 1,836 677 538 6,261
As at 1 November 2022 3,421 2,448 903 804 7,576
5. Stocks
2023 2022
£ £
Stock 12,000 4,000
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income - 267
- 267
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Accruals and deferred income 1,987 1,034
Directors' loan accounts 41,209 26,060
43,196 27,094
Page 5
Page 6
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 2,000 4,000
2,000 4,000
10. Ultimate Controlling Party
The company is controlled by the directors.
Page 6