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REGISTERED NUMBER: 10093340 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2023

FOR

SILICON REEF LTD

SILICON REEF LTD (REGISTERED NUMBER: 10093340)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SILICON REEF LTD

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2023







DIRECTORS: A D Graves
L C Knight
T M Wallis





REGISTERED OFFICE: New Broad Street House
35 New Broad Street
London
EC2M 1NH





REGISTERED NUMBER: 10093340 (England and Wales)





ACCOUNTANTS: Collards
Chartered Accountants
5-9 Eden Street
Kingston-upon-Thames
Surrey
KT1 1BQ

SILICON REEF LTD (REGISTERED NUMBER: 10093340)

BALANCE SHEET
31 DECEMBER 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,940 6,017

CURRENT ASSETS
Debtors 5 738,164 688,575
Cash at bank 52,688 64,156
790,852 752,731
CREDITORS
Amounts falling due within one year 6 1,571,439 1,396,829
NET CURRENT LIABILITIES (780,587 ) (644,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(775,647

)

(638,081

)

CREDITORS
Amounts falling due after more than one year 7 (105,311 ) (114,558 )

PROVISIONS FOR LIABILITIES (939 ) (1,143 )
NET LIABILITIES (881,897 ) (753,782 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (882,897 ) (754,782 )
(881,897 ) (753,782 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





L C Knight - Director


SILICON REEF LTD (REGISTERED NUMBER: 10093340)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

Silicon Reef Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At 31 December 2023 the company had excess liabilities over assets totalling £881,897. The company is dependent upon the continued financial support of the directors and shareholders on the basis that this support is forthcoming the directors consider it appropriate for the financial statements to be prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2023 - 23 ) .

SILICON REEF LTD (REGISTERED NUMBER: 10093340)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 31 December 2023 46,282
DEPRECIATION
At 1 October 2023 40,265
Charge for period 1,077
At 31 December 2023 41,342
NET BOOK VALUE
At 31 December 2023 4,940
At 30 September 2023 6,017

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 234,316 163,710
Other debtors 503,848 524,865
738,164 688,575

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts 56,508 59,751
Trade creditors 32,191 22,832
Taxation and social security 430,717 501,128
Other creditors 1,052,023 813,118
1,571,439 1,396,829

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Bank loans 105,311 114,558

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2023 and the year ended 30 September 2023:

2023 2023
£    £   
A D Graves
Balance outstanding at start of period 99,049 47,049
Amounts advanced - 67,000
Amounts repaid - (15,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 99,049

SILICON REEF LTD (REGISTERED NUMBER: 10093340)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

L C Knight
Balance outstanding at start of period 102,258 47,258
Amounts advanced - 70,000
Amounts repaid - (15,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 102,258

P J C Schofield
Balance outstanding at start of period - 47,258
Amounts repaid - (47,258 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - -

9. RELATED PARTY DISCLOSURES

At the period end the company owed a shareholder of it's parent company £772,177 (30 September 2023 - £577,497).