1 January 2023 false No description of principal activity Taxfiler 2024.5 07654987business:PrivateLimitedCompanyLtd2023-01-012023-12-31 076549872022-12-31 076549872023-01-012023-12-31 07654987business:AuditExemptWithAccountantsReport2023-01-012023-12-31 07654987business:FilletedAccounts2023-01-012023-12-31 076549872023-12-31 07654987business:Director12023-01-012023-12-31 07654987business:RegisteredOffice2023-01-012023-12-31 076549872022-12-31 07654987core:WithinOneYear2023-12-31 07654987core:WithinOneYear2022-12-31 07654987core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 07654987core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 07654987core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 07654987core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 07654987core:PreviouslyStatedAmount2023-12-31 07654987core:PreviouslyStatedAmount2022-12-31 07654987business:SmallEntities2023-01-012023-12-31 07654987countries:EnglandWales2023-01-012023-12-31 07654987core:PlantMachinery2023-01-012023-12-31 07654987core:MotorVehicles2023-01-012023-12-31 07654987core:FurnitureFittings2023-01-012023-12-31 07654987core:ComputerEquipment2023-01-012023-12-31 07654987core:OtherPropertyPlantEquipment2023-01-012023-12-31 07654987core:IntangibleAssetsOtherThanGoodwill2022-12-31 07654987core:IntangibleAssetsOtherThanGoodwill2023-12-31 07654987core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31 07654987core:LandBuildings2022-12-31 07654987core:PlantMachinery2022-12-31 07654987core:MotorVehicles2022-12-31 07654987core:FurnitureFittings2022-12-31 07654987core:ComputerEquipment2022-12-31 07654987core:LandBuildings2023-01-012023-12-31 07654987core:LandBuildings2023-12-31 07654987core:PlantMachinery2023-12-31 07654987core:MotorVehicles2023-12-31 07654987core:FurnitureFittings2023-12-31 07654987core:ComputerEquipment2023-12-31 07654987core:AfterOneYear2023-12-31 07654987core:AfterOneYear2022-12-31 07654987core:OtherProvisionsContingentLiabilities2022-12-31 07654987core:OtherProvisionsContingentLiabilities2023-01-012023-12-31 07654987core:OtherProvisionsContingentLiabilities2023-12-31 07654987business:OrdinaryShareClass12023-01-012023-12-31 07654987business:OrdinaryShareClass12022-01-012022-12-31 076549872022-01-012022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 07654987 (England and Wales)
Silicon Supplies Limited Unaudited accounts for the year ended 31 December 2023
Silicon Supplies Limited Unaudited accounts Contents
Page
- 2 -
Silicon Supplies Limited Company Information for the year ended 31 December 2023
Director
Mr. Benjamin Matthew White
Company Number
07654987 (England and Wales)
Registered Office
Trafalgar House Tharston Industrial Estate Wellesley Road, Tharston Norfolk NR15 2PD United Kingdom
Accountants
Together Accounting Limited 17-19 St Georges Street Norwich Norfolk NR3 1AB
- 3 -
Silicon Supplies Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,749 
4,966 
Tangible assets
598,799 
351,733 
600,548 
356,699 
Current assets
Inventories
42,632 
38,245 
Debtors
3,266,442 
1,887,305 
Cash at bank and in hand
987,637 
1,929,252 
4,296,711 
3,854,802 
Creditors: amounts falling due within one year
(576,717)
(953,206)
Net current assets
3,719,994 
2,901,596 
Total assets less current liabilities
4,320,542 
3,258,295 
Provisions for liabilities
Deferred tax
(113,771)
(59,240)
Other provisions
(36,009)
(36,009)
(149,780)
(95,249)
Net assets
4,170,762 
3,163,046 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
4,170,760 
3,163,044 
Shareholders' funds
4,170,762 
3,163,046 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 September 2024 and were signed on its behalf by
Mr. Benjamin Matthew White Director Company Registration No. 07654987
- 4 -
Silicon Supplies Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Silicon Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 07654987. The registered office is Trafalgar House , Tharston Industrial Estate, Wellesley Road, Tharston, Norfolk, NR15 2PD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Website Development - Amortisized Over 3 Years
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% - Reducing Balance Method
Motor vehicles
25% - Reducing Balance Method
Fixtures & fittings
20% - Reducing Balance Method
Computer equipment
33% - Reducing Balance Method
Other tangible fixed assets
20% - Reducing Balance Method
Stocks
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
- 5 -
Silicon Supplies Limited Notes to the Accounts for the year ended 31 December 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
9,650 
At 31 December 2023
9,650 
Amortisation
At 1 January 2023
4,684 
Charge for the year
3,217 
At 31 December 2023
7,901 
Net book value
At 31 December 2023
1,749 
At 31 December 2022
4,966 
- 6 -
Silicon Supplies Limited Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
130,607 
578,007 
- 
6,999 
2,338 
717,951 
Additions
5,000 
158,464 
192,650 
989 
1,832 
358,935 
At 31 December 2023
135,607 
736,471 
192,650 
7,988 
4,170 
1,076,886 
Depreciation
At 1 January 2023
60,612 
300,151 
- 
3,525 
1,930 
366,218 
Charge for the year
14,499 
75,831 
20,068 
777 
694 
111,869 
At 31 December 2023
75,111 
375,982 
20,068 
4,302 
2,624 
478,087 
Net book value
At 31 December 2023
60,496 
360,489 
172,582 
3,686 
1,546 
598,799 
At 31 December 2022
69,995 
277,856 
- 
3,474 
408 
351,733 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
68,215 
67,754 
Trade debtors
531,930 
1,094,073 
Accrued income and prepayments
10,687 
- 
610,832 
1,161,827 
Amounts falling due after more than one year
Other debtors
2,655,610 
725,478 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
136 
- 
Trade creditors
158,617 
614,472 
Taxes and social security
374,949 
296,947 
Other creditors
1,956 
1,919 
Loans from directors
41,059 
39,868 
576,717 
953,206 
8
Provisions for liabilities
£ 
At 1 January 2023
36,009 
Provisions used
(36,009)
Unused provisions reversed
36,009 
At 31 December 2023
36,009 
Provision for Doubtful Debts
- 7 -
Silicon Supplies Limited Notes to the Accounts for the year ended 31 December 2023
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Controlling party
The company is controlled by the director who owns 50% of the called up share capital.
11
Average number of employees
During the year the average number of employees was 8 (2022: 5).
- 8 -