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Company No: 12169085 (England and Wales)

WILTSHIRE CLOSE ENTERPRISE LTD

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

WILTSHIRE CLOSE ENTERPRISE LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WILTSHIRE CLOSE ENTERPRISE LTD

COMPANY INFORMATION

For the financial year ended 31 December 2023
WILTSHIRE CLOSE ENTERPRISE LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr S Hughes
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 12169085 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
WILTSHIRE CLOSE ENTERPRISE LTD

BALANCE SHEET

As at 31 December 2023
WILTSHIRE CLOSE ENTERPRISE LTD

BALANCE SHEET (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Stocks 429,447 429,447
Cash at bank and in hand 7,235 7,606
436,682 437,053
Creditors: amounts falling due within one year 3 ( 502,070) ( 495,750)
Net current liabilities (65,388) (58,697)
Total assets less current liabilities (65,388) (58,697)
Net liabilities ( 65,388) ( 58,697)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 65,488 ) ( 58,797 )
Total shareholder's deficit ( 65,388) ( 58,697)

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.

Director's responsibilities:

The financial statements of Wiltshire Close Enterprise Ltd (registered number: 12169085) were approved and authorised for issue by the Director on 06 September 2024. They were signed on its behalf by:

Mr S Hughes
Director
WILTSHIRE CLOSE ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WILTSHIRE CLOSE ENTERPRISE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

Wiltshire Close Enterprise Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Leman Street, London, United Kingdom, E1W 9US.

General information and basis of accounting

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of \section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with
in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 502,070 495,750

4. Related party transactions

Transactions with the entity's director

At the 31 December 2023 the amount owed to the director by the company was £174,733 (2022 : £174,733). The loan is interest free and repayable on demand.