Acorah Software Products - Accounts Production 15.0.600 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 08646914 Mr Richard Wilson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08646914 2023-07-31 08646914 2024-07-31 08646914 2023-08-01 2024-07-31 08646914 frs-core:CurrentFinancialInstruments 2024-07-31 08646914 frs-core:Non-currentFinancialInstruments 2024-07-31 08646914 frs-core:ComputerEquipment 2024-07-31 08646914 frs-core:ComputerEquipment 2023-08-01 2024-07-31 08646914 frs-core:ComputerEquipment 2023-07-31 08646914 frs-core:FurnitureFittings 2024-07-31 08646914 frs-core:FurnitureFittings 2023-08-01 2024-07-31 08646914 frs-core:FurnitureFittings 2023-07-31 08646914 frs-core:PlantMachinery 2024-07-31 08646914 frs-core:PlantMachinery 2023-08-01 2024-07-31 08646914 frs-core:PlantMachinery 2023-07-31 08646914 frs-core:ShareCapital 2024-07-31 08646914 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 08646914 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08646914 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 08646914 frs-bus:SmallEntities 2023-08-01 2024-07-31 08646914 frs-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08646914 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08646914 frs-bus:OrdinaryShareClass1 2023-08-01 2024-07-31 08646914 frs-bus:OrdinaryShareClass1 2024-07-31 08646914 frs-core:DeferredTaxation 2023-08-01 2024-07-31 08646914 frs-core:DeferredTaxation 2023-07-31 08646914 frs-bus:Director1 2023-08-01 2024-07-31 08646914 frs-countries:EnglandWales 2023-08-01 2024-07-31 08646914 2022-07-31 08646914 2023-07-31 08646914 2022-08-01 2023-07-31 08646914 frs-core:CurrentFinancialInstruments 2023-07-31 08646914 frs-core:Non-currentFinancialInstruments 2023-07-31 08646914 frs-core:ShareCapital 2023-07-31 08646914 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 08646914 frs-bus:OrdinaryShareClass1 2022-08-01 2023-07-31
Registered number: 08646914
Silverpoint Display Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Silverpoint Display Limited For The Year Ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Silverpoint Display Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Silverpoint Display Limited , as a body, in accordance with the terms of our engagement letter dated 23 May 2024. Our work has been undertaken solely to prepare for your approval the accounts of Silverpoint Display Limited and state those matters that we have agreed to state to the directors of Silverpoint Display Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Silverpoint Display Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Silverpoint Display Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Silverpoint Display Limited . You consider that Silverpoint Display Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Silverpoint Display Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
2nd October 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 08646914
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 - 8,148
- 8,148
CURRENT ASSETS
Stocks 4 - 135
Debtors 5 212,823 269,054
Cash at bank and in hand 35,974 22,483
248,797 291,672
Creditors: Amounts Falling Due Within One Year 6 (399,320 ) (415,578 )
NET CURRENT ASSETS (LIABILITIES) (150,523 ) (123,906 )
TOTAL ASSETS LESS CURRENT LIABILITIES (150,523 ) (115,758 )
Creditors: Amounts Falling Due After More Than One Year 7 (55,759 ) (19,230 )
NET LIABILITIES (206,282 ) (134,988 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (206,382 ) (135,088 )
SHAREHOLDERS' FUNDS (206,282) (134,988)
Page 2
Page 3
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Wilson
Director
2nd October 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis. This assumption may not be valid since at the
balance sheet date the company has net liabilities of £204,063 (2023: £134,988). The validity of the going concern assumption therefore depends on the continued support of the directors, suppliers and the company's bankers and other providers of finance.
1.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 15% on reducing balance
1.5. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
1.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 4
Page 5
1.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.8. Pensions
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.
1.9. 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 year 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2023: 5)
5 5
3. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 9,301 4,106 8,453 21,860
Disposals (9,301 ) (4,106 ) (8,453 ) (21,860 )
Depreciation
As at 1 August 2023 5,966 1,644 6,102 13,712
Disposals (5,966 ) (1,644 ) (6,102 ) (13,712 )
As at 31 July 2024 - - - -
Net Book Value
As at 31 July 2024 - - - -
As at 1 August 2023 3,335 2,462 2,351 8,148
4. Stocks
2024 2023
£ £
Finished goods - 135
Page 5
Page 6
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,791 102,368
Other debtors 19,046 11,137
30,837 113,505
Due after more than one year
Amounts owed by group undertakings 181,986 92,385
Other debtors - 63,164
181,986 155,549
212,823 269,054
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 316,879 318,829
Bank loans and overdrafts 10,004 10,648
Other creditors 58,738 10,625
Taxation and social security 13,699 75,476
399,320 415,578
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 45,001 -
Other creditors 10,758 19,230
55,759 19,230
8. Provisions for Liabilities
Deferred Tax
£
As at 1 August 2023 (63,164 )
Additions 63,164
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Value Number 2024 2023
Allotted, called up and fully paid £ £ £
Ordinary Shares 1 100 100 100
Page 6
Page 7
10. General Information
Silverpoint Display Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08646914 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.
Page 7