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
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
Silicon Supplies Limited
Statement of financial position
as at 31 December 2023
Intangible assets
1,749
4,966
Tangible assets
598,799
351,733
Debtors
3,266,442
1,887,305
Cash at bank and in hand
987,637
1,929,252
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)
Net assets
4,170,762
3,163,046
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
Silicon Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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 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.
Silicon Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
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
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
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
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
Amounts falling due within one year
Trade debtors
531,930
1,094,073
Accrued income and prepayments
10,687
-
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
8
Provisions for liabilities
£
Unused provisions reversed
36,009
At 31 December 2023
36,009
Provision for Doubtful Debts
Silicon Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
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).