Silverfin false false 31/12/2023 01/01/2023 31/12/2023 M Bertoni 22/09/2021 N Elistratov 22/09/2021 P Rowbottom 22/09/2021 S Rowbottom 22/09/2021 25 September 2024 The principal activity of the Company during the financial period was the manufacture of motor vehicles. 13636734 2023-12-31 13636734 bus:Director1 2023-12-31 13636734 bus:Director2 2023-12-31 13636734 bus:Director3 2023-12-31 13636734 bus:Director4 2023-12-31 13636734 2022-12-31 13636734 core:CurrentFinancialInstruments 2023-12-31 13636734 core:CurrentFinancialInstruments 2022-12-31 13636734 core:ShareCapital 2023-12-31 13636734 core:ShareCapital 2022-12-31 13636734 core:RetainedEarningsAccumulatedLosses 2023-12-31 13636734 core:RetainedEarningsAccumulatedLosses 2022-12-31 13636734 2021-09-21 13636734 bus:OrdinaryShareClass1 2023-12-31 13636734 2023-01-01 2023-12-31 13636734 bus:FilletedAccounts 2023-01-01 2023-12-31 13636734 bus:SmallEntities 2023-01-01 2023-12-31 13636734 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13636734 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13636734 bus:Director1 2023-01-01 2023-12-31 13636734 bus:Director2 2023-01-01 2023-12-31 13636734 bus:Director3 2023-01-01 2023-12-31 13636734 bus:Director4 2023-01-01 2023-12-31 13636734 2021-09-22 2022-12-31 13636734 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13636734 bus:OrdinaryShareClass1 2021-09-22 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13636734 (England and Wales)

ENVIRON SKYWORKS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ENVIRON SKYWORKS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ENVIRON SKYWORKS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
ENVIRON SKYWORKS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 31.12.2023 31.12.2022
£ £
Current assets
Stocks 267,562 185,612
Debtors 3 486 2,151
Cash at bank and in hand 8,446 39,826
276,494 227,589
Creditors: amounts falling due within one year 4 ( 292,422) ( 232,532)
Net current liabilities (15,928) (4,943)
Total assets less current liabilities (15,928) (4,943)
Net liabilities ( 15,928) ( 4,943)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 16,028 ) ( 5,043 )
Total shareholders' deficit ( 15,928) ( 4,943)

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 Environ Skyworks Limited (registered number: 13636734) were approved and authorised for issue by the Board of Directors on 25 September 2024. They were signed on its behalf by:

S Rowbottom
Director
ENVIRON SKYWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ENVIRON SKYWORKS 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 period, unless otherwise stated.

General information and basis of accounting

Environ Skyworks Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4, Watford Bridge Industrial Estate Watford Bridge Road, New Mills, High Peak, SK22 4HJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £15,928. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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.

Reporting period length

The current reporting period covers 12 months of activity from January 1st 2023 to December 31st 2023. However the previous reporting period of 15 months covers 22nd September 2021 to 31st December 2022, therefore the two accounting periods are not directly comparable. This is due to the prior year being the first year of trade and so being a long accounting period.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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 Statement of Financial Position 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.12.2023
Period from
22.09.2021 to
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Debtors

31.12.2023 31.12.2022
£ £
Amounts owed by directors 40 40
Deferred tax asset 0 1,564
VAT recoverable 446 547
486 2,151

4. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Trade creditors 0 2
Amounts owed to directors 289,136 220,319
Accruals 3,286 12,211
292,422 232,532

5. Deferred tax

31.12.2023 31.12.2022
£ £
At the beginning of financial year/period 1,564 0
(Charged)/credited to the Statement of Income and Retained Earnings ( 1,564) 1,564
At the end of financial year/period 0 1,564

6. Called-up share capital

31.12.2023 31.12.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with the entity's directors

31.12.2023 31.12.2022
£ £
Amounts owed to director 289,136 220,319
Amounts owed by directors - unpaid share capital 40 40

Loans to and from directors are repayable on demand, with no interest accruing on the balances.