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COMPANY REGISTRATION NUMBER: 11464483
Silver Street 79 Management Ltd
Filleted Unaudited Financial Statements
For the year ended
30 September 2023
Silver Street 79 Management Ltd
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Current assets
Debtors
4
420,235
327,192
Cash at bank and in hand
296,817
445,930
---------
---------
717,052
773,122
Creditors: amounts falling due within one year
5
1,075,809
1,132,468
------------
------------
Net current liabilities
358,757
359,346
---------
---------
Total assets less current liabilities
( 358,757)
( 359,346)
Creditors: amounts falling due after more than one year
6
16,192
25,048
---------
---------
Net liabilities
( 374,949)
( 384,394)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 375,049)
( 384,494)
---------
---------
Shareholders deficit
( 374,949)
( 384,394)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Silver Street 79 Management Ltd
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
N Morjaria
Director
Company registration number: 11464483
Silver Street 79 Management Ltd
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Newdigate Road, Coventry, CV6 5ES, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the going concern basis.
Going concern
The company retains the full support of the directors and shareholders and is paying its liabilities as they fall due. For this reason the Financial Statements have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Debtors
2023
2022
£
£
Trade debtors
15,971
31,235
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,481
Other debtors
404,264
293,476
---------
---------
420,235
327,192
---------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
11,073
Trade creditors
44,518
17,870
Amounts owed to related entities
22,519
Other creditors
998,772
1,103,525
------------
------------
1,075,809
1,132,468
------------
------------
The bank loan is secured against the property included in fixed assets.
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
16,192
25,048
--------
--------
The bank loan is secured against the property included in fixed assets.
7. Contingencies
The partnership has provided a cross guarantee to Silver Street 79 LLP in respect of bank loans.