Silverfin false false 31/12/2023 01/01/2023 31/12/2023 E Taylor 28/02/2014 W Taylor 28/09/2011 20 September 2024 The principal activity of the Company during the financial year continued to be that of management consultancy. SC408290 2023-12-31 SC408290 bus:Director1 2023-12-31 SC408290 bus:Director2 2023-12-31 SC408290 2022-12-31 SC408290 core:CurrentFinancialInstruments 2023-12-31 SC408290 core:CurrentFinancialInstruments 2022-12-31 SC408290 core:ShareCapital 2023-12-31 SC408290 core:ShareCapital 2022-12-31 SC408290 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC408290 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC408290 core:Vehicles 2022-12-31 SC408290 core:ComputerEquipment 2022-12-31 SC408290 core:Vehicles 2023-12-31 SC408290 core:ComputerEquipment 2023-12-31 SC408290 bus:OrdinaryShareClass1 2023-12-31 SC408290 2023-01-01 2023-12-31 SC408290 bus:FilletedAccounts 2023-01-01 2023-12-31 SC408290 bus:SmallEntities 2023-01-01 2023-12-31 SC408290 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC408290 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC408290 bus:Director1 2023-01-01 2023-12-31 SC408290 bus:Director2 2023-01-01 2023-12-31 SC408290 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 SC408290 core:ComputerEquipment 2023-01-01 2023-12-31 SC408290 2022-01-01 2022-12-31 SC408290 core:Vehicles 2023-01-01 2023-12-31 SC408290 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC408290 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC408290 (Scotland)

SILVERTREES ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

SILVERTREES ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

SILVERTREES ASSOCIATES LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
SILVERTREES ASSOCIATES LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 23,304 48,403
23,304 48,403
Current assets
Debtors 4 24,178 22,033
Cash at bank and in hand 223,268 150,464
247,446 172,497
Creditors: amounts falling due within one year 5 ( 33,782) ( 32,632)
Net current assets 213,664 139,865
Total assets less current liabilities 236,968 188,268
Provision for liabilities 6 ( 5,826) ( 12,101)
Net assets 231,142 176,167
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 231,140 176,165
Total shareholders' funds 231,142 176,167

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.

Directors' responsibilities:

The financial statements of Silvertrees Associates Limited (registered number: SC408290) were approved and authorised for issue by the Board of Directors on 20 September 2024. They were signed on its behalf by:

W Taylor
Director
SILVERTREES ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
SILVERTREES ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Silvertrees Associates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 4 Wellknowe Road, Thorntonhall, Glasgow, G74 5AH, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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.

Turnover

Turnover is recognised at the cost of management consultancy costs received or receivable provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 January 2023 97,828 4,337 102,165
Disposals 0 ( 2,224) ( 2,224)
At 31 December 2023 97,828 2,113 99,941
Accumulated depreciation
At 01 January 2023 50,952 2,810 53,762
Charge for the financial year 24,457 305 24,762
Disposals 0 ( 1,887) ( 1,887)
At 31 December 2023 75,409 1,228 76,637
Net book value
At 31 December 2023 22,419 885 23,304
At 31 December 2022 46,876 1,527 48,403

4. Debtors

2023 2022
£ £
Trade debtors 21,600 21,600
Other debtors 2,578 433
24,178 22,033

5. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 22,274 16,031
Other taxation and social security 5,067 8,067
Other creditors 6,441 8,534
33,782 32,632

6. Provision for liabilities

2023 2022
£ £
Deferred tax 5,826 12,101

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 2.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to key management personnel 299 505