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REGISTERED NUMBER: 02330953 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Silo Services Limited

Silo Services Limited (Registered number: 02330953)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Silo Services Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P Wright
R T Wright
Mrs R L Wright





SECRETARY: Mrs R L Wright





REGISTERED OFFICE: Unit 5a Kings Cliffe Industrial Estate
Kings Cliffe Road
Wansford
Peterborough
PE8 69B





REGISTERED NUMBER: 02330953 (England and Wales)





ACCOUNTANTS: Moore Weston Accountants Limited
Chartered Accountants
Falcon House
High Street
Littlebury
Saffron Walden
Essex
CB11 4TD

Silo Services Limited (Registered number: 02330953)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 198,664 254,644

CURRENT ASSETS
Stocks 69,350 68,940
Debtors 5 833,978 603,827
Cash at bank 394,615 156,998
1,297,943 829,765
CREDITORS
Amounts falling due within one year 6 610,910 409,503
NET CURRENT ASSETS 687,033 420,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

885,697

674,906

CREDITORS
Amounts falling due after more than one
year

7

(18,249

)

(76,302

)

PROVISIONS FOR LIABILITIES (49,666 ) (48,382 )
NET ASSETS 817,782 550,222

CAPITAL AND RESERVES
Called up share capital 8 2,000 3,000
Capital redemption reserve 1,000 -
Retained earnings 814,782 547,222
SHAREHOLDERS' FUNDS 817,782 550,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Silo Services Limited (Registered number: 02330953)

Balance Sheet - continued
31 May 2024


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 1 August 2024 and were signed on its behalf by:





R T Wright - Director


Silo Services Limited (Registered number: 02330953)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Silo Services Limited 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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax (having regard to the fulfilment of contractual obligations).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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 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.

Silo Services Limited (Registered number: 02330953)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over the estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 756,038
Additions 4,396
At 31 May 2024 760,434
DEPRECIATION
At 1 June 2023 501,394
Charge for year 60,376
At 31 May 2024 561,770
NET BOOK VALUE
At 31 May 2024 198,664
At 31 May 2023 254,644

Silo Services Limited (Registered number: 02330953)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 107,934
DEPRECIATION
At 1 June 2023 56,078
Charge for year 19,779
At 31 May 2024 75,857
NET BOOK VALUE
At 31 May 2024 32,077
At 31 May 2023 51,856

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 824,237 585,495
Other debtors 9,741 18,332
833,978 603,827

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts - 16,667
Hire purchase contracts 26,109 29,555
Trade creditors 332,105 240,580
Taxation and social security 237,647 59,784
Other creditors 15,049 62,917
610,910 409,503

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 31,944
Hire purchase contracts 18,249 44,358
18,249 76,302

Silo Services Limited (Registered number: 02330953)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1,000 Ordinary £1 1,000 1,000
1,000 B Ordinary £1 - 1,000
1,000 A Ordinary £1 1,000 1,000
2,000 3,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
G McIntyre
Balance outstanding at start of year 10,000 10,000
Amounts repaid (10,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,000

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Silo Services Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Silo Services Limited for the year ended 31 May 2024 which comprise the Income Statement, 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 firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Silo Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Silo Services Limited and state those matters that we have agreed to state to the Board of Directors of Silo Services Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Silo Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Silo Services Limited. You consider that Silo Services 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 financial statements of Silo Services 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 statutory financial statements.






Moore Weston Accountants Limited
Chartered Accountants
Falcon House
High Street
Littlebury
Saffron Walden
Essex
CB11 4TD


1 August 2024