Registered number
10514447
Silver Grey Projects Ltd
Filleted Accounts
31 December 2023
Silver Grey Projects Ltd
Registered number: 10514447
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,009 13,069
Current assets
Debtors 4 7,064 21,934
Cash at bank and in hand 1,142 724
8,206 22,658
Creditors: amounts falling due within one year 5 (24,897) (19,484)
Net current (liabilities)/assets (16,691) 3,174
Total assets less current liabilities (10,682) 16,243
Creditors: amounts falling due after more than one year 6 - (15,180)
Provisions for liabilities - (291)
Net (liabilities)/assets (10,682) 772
Capital and reserves
Called up share capital 100 100
Profit and loss account (10,782) 672
Shareholder's funds (10,682) 772
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andrea Tomaso
Director
Approved by the board on 24 September 2024
Silver Grey Projects Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Motor vehicles over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 16,658 18,029 34,687
At 31 December 2023 16,658 18,029 34,687
Depreciation
At 1 January 2023 15,608 6,010 21,618
Charge for the year 1,050 6,010 7,060
At 31 December 2023 16,658 12,020 28,678
Net book value
At 31 December 2023 - 6,009 6,009
At 31 December 2022 1,050 12,019 13,069
4 Debtors 2023 2022
£ £
Other debtors 7,064 21,934
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 15,104 6,172
Trade creditors 9,002 33
Taxation and social security costs 256 15
Other creditors 535 13,264
24,897 19,484
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 15,180
7 Controlling party
The company is controlled by the Director Andrea Tomaso.
8 Other information
Silver Grey Projects Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Associates House
118a East Barnet Road
Barnet
Herts
EN4 8RE
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