Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31truetruefalse22022-06-01falseNo description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08084035 2022-06-01 2023-05-31 08084035 2021-06-01 2022-05-31 08084035 2023-05-31 08084035 2022-05-31 08084035 c:Director1 2022-06-01 2023-05-31 08084035 d:PlantMachinery 2022-06-01 2023-05-31 08084035 d:PlantMachinery 2023-05-31 08084035 d:PlantMachinery 2022-05-31 08084035 d:MotorVehicles 2022-06-01 2023-05-31 08084035 d:MotorVehicles 2023-05-31 08084035 d:MotorVehicles 2022-05-31 08084035 d:OfficeEquipment 2022-06-01 2023-05-31 08084035 d:OfficeEquipment 2023-05-31 08084035 d:OfficeEquipment 2022-05-31 08084035 d:CurrentFinancialInstruments 2023-05-31 08084035 d:CurrentFinancialInstruments 2022-05-31 08084035 d:Non-currentFinancialInstruments 2023-05-31 08084035 d:Non-currentFinancialInstruments 2022-05-31 08084035 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08084035 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 08084035 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 08084035 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 08084035 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 08084035 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 08084035 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 08084035 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 08084035 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 08084035 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-05-31 08084035 d:ShareCapital 2023-05-31 08084035 d:ShareCapital 2022-05-31 08084035 d:RetainedEarningsAccumulatedLosses 2023-05-31 08084035 d:RetainedEarningsAccumulatedLosses 2022-05-31 08084035 c:OrdinaryShareClass1 2022-06-01 2023-05-31 08084035 c:OrdinaryShareClass1 2023-05-31 08084035 c:OrdinaryShareClass1 2022-05-31 08084035 c:FRS102 2022-06-01 2023-05-31 08084035 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 08084035 c:FullAccounts 2022-06-01 2023-05-31 08084035 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08084035 e:PoundSterling 2022-06-01 2023-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08084035










SILVERLINING TRENCHLESS UK LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

 
SILVERLINING TRENCHLESS UK LTD
REGISTERED NUMBER: 08084035

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,762,903
2,762,903

  
2,762,903
2,762,903

Current assets
  

Debtors: amounts falling due within one year
 5 
89,202
116,477

Cash at bank and in hand
  
44,029
71,099

  
133,231
187,576

Creditors: amounts falling due within one year
 6 
(10,214)
(6,183)

Net current assets
  
 
 
123,017
 
 
181,393

Total assets less current liabilities
  
2,885,920
2,944,296

Creditors: amounts falling due after more than one year
 7 
(43,716)
(44,002)

  

Net assets
  
2,842,204
2,900,294


Capital and reserves
  

Called up share capital 
 9 
3,434,302
3,434,302

Profit and loss account
  
(592,098)
(534,008)

  
2,842,204
2,900,294


Page 1

 
SILVERLINING TRENCHLESS UK LTD
REGISTERED NUMBER: 08084035
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Potter
Director

Date: 10 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SILVERLINING TRENCHLESS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Silverlining Trenchless UK Ltd is a private company, limited by shares, incorporated in England and Wales, registration number 08084035. The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. The nature of the business is that of the repair of fabricated metal products. 

The financial statements are prepared in £ sterling, the functional currency rounded to the nearest £1. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Plant and machinery
-
20
years straight line
Motor vehicles
-
4
years straight line
Office equipment
-
4
years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
SILVERLINING TRENCHLESS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the
Page 4

 
SILVERLINING TRENCHLESS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
SILVERLINING TRENCHLESS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2022
2,783,104
5,935
15,098
2,804,137



At 31 May 2023

2,783,104
5,935
15,098
2,804,137



Depreciation


At 1 June 2022
20,203
5,934
15,097
41,234



At 31 May 2023

20,203
5,934
15,097
41,234



Net book value



At 31 May 2023
2,762,901
1
1
2,762,903



At 31 May 2022
2,762,901
1
1
2,762,903


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
88,449
116,125

Other debtors
753
352

89,202
116,477



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,014
3,983

Accruals and deferred income
4,200
2,200

10,214
6,183


Page 6

 
SILVERLINING TRENCHLESS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
43,716
44,002

43,716
44,002



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,014
3,983

Amounts falling due 1-2 years

Bank loans
6,838
5,826

Amounts falling due 2-5 years

Bank loans
21,570
18,377

Amounts falling due after more than 5 years

Bank loans
15,308
19,799

49,730
47,985



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3,434,302 (2022 - 3,434,302) Ordinary shares of £1.00 each
3,434,302
3,434,302


 
Page 7