Registered number
08870075
Silver Future Ltd
Filleted Accounts
31 January 2024
Silver Future Ltd
Registered number: 08870075
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 160 192
Tangible assets 4 306,805 306,805
306,965 306,997
Current assets
Debtors 5 25,261 3,978
Cash at bank 106,177 112,404
131,438 116,382
Creditors: amounts falling due within one year 6 (6,085) (49,270)
Net current assets 125,353 67,112
Net assets 432,318 374,109
Capital and reserves
Called up share capital 391,890 350,000
Share premium 2,095 -
Revaluation reserve 7 17,436 17,436
Capital redemption reserve (1,000) (1,000)
Profit and loss account 21,897 7,673
Shareholders' funds 432,318 374,109
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Ms L F G Mawjee
Director
Approved by the board on 1 October 2024
Silver Future Ltd
Notes to the Accounts
for the year ended 31 January 2024
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. Turnover includes revenue earned from the the rental of investment property. Turnover from the rereceipt of rental income is recognised by reference to the rental period.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings not depreciated
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Website:
Cost
At 1 February 2023 320
At 31 January 2024 320
Amortisation
At 1 February 2023 128
Provided during the year 32
At 31 January 2024 160
Net book value
At 31 January 2024 160
At 31 January 2023 192
Intangible assets are written off in equal annual instalments over their estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2023 306,805
At 31 January 2024 306,805
Depreciation
At 31 January 2024 -
Net book value
At 31 January 2024 306,805
At 31 January 2023 306,805
5 Debtors 2024 2023
£ £
Trade debtors 780 497
Other debtors 24,481 3,481
25,261 3,978
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,387 1,638
Taxation and social security costs 3,379 2,366
Other creditors 1,319 45,266
6,085 49,270
7 Revaluation reserve 2024 2023
£ £
At 1 February 2023 17,436 17,436
At 31 January 2024 17,436 17,436
8 Other information
Silver Future Ltd is a private company limited by shares and incorporated in England. Its registered office is:
3 Somerset Gardens
London
SW16 4UZ
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