Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-04-01falsefarming, agricultural contracting and feed distribution.1918trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05473714 2023-04-01 2024-03-31 05473714 2022-04-01 2023-03-31 05473714 2024-03-31 05473714 2023-03-31 05473714 c:Director1 2023-04-01 2024-03-31 05473714 d:Buildings 2023-04-01 2024-03-31 05473714 d:Buildings 2024-03-31 05473714 d:Buildings 2023-03-31 05473714 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05473714 d:PlantMachinery 2023-04-01 2024-03-31 05473714 d:PlantMachinery 2024-03-31 05473714 d:PlantMachinery 2023-03-31 05473714 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05473714 d:MotorVehicles 2023-04-01 2024-03-31 05473714 d:MotorVehicles 2024-03-31 05473714 d:MotorVehicles 2023-03-31 05473714 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05473714 d:FurnitureFittings 2023-04-01 2024-03-31 05473714 d:FurnitureFittings 2024-03-31 05473714 d:FurnitureFittings 2023-03-31 05473714 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05473714 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05473714 d:CurrentFinancialInstruments 2024-03-31 05473714 d:CurrentFinancialInstruments 2023-03-31 05473714 d:CurrentFinancialInstruments 6 2024-03-31 05473714 d:CurrentFinancialInstruments 6 2023-03-31 05473714 d:Non-currentFinancialInstruments 2024-03-31 05473714 d:Non-currentFinancialInstruments 2023-03-31 05473714 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05473714 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05473714 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 05473714 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05473714 d:ShareCapital 2024-03-31 05473714 d:ShareCapital 2023-03-31 05473714 d:RetainedEarningsAccumulatedLosses 2024-03-31 05473714 d:RetainedEarningsAccumulatedLosses 2023-03-31 05473714 c:FRS102 2023-04-01 2024-03-31 05473714 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05473714 c:FullAccounts 2023-04-01 2024-03-31 05473714 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05473714 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 05473714













Silvermoor Limited

Financial statements
Information for filing with the registrar

31 March 2024




 
Silvermoor Limited


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,132,986
2,161,969

  
2,132,986
2,161,969

Current assets
  

Stocks
  
304,346
366,772

Debtors
 5 
294,203
182,142

Cash at bank and in hand
  
506,627
8,649

  
1,105,176
557,563

Creditors: amounts falling due within one year
 6 
(1,816,800)
(1,500,561)

Net current liabilities
  
 
 
(711,624)
 
 
(942,998)

Total assets less current liabilities
  
1,421,362
1,218,971

Creditors: amounts falling due after more than one year
 7 
(1,378,461)
(878,826)

Provisions for liabilities
  

Deferred tax
  
(139,750)
(94,267)

  
 
 
(139,750)
 
 
(94,267)

Net (liabilities)/assets
  
(96,849)
245,878


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(96,949)
245,778

Shareholders’ (deficit)/funds
  
(96,849)
245,878


1

 
Silvermoor Limited

    
Balance sheet (continued)
At 31 March 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2024.




R J M Thompson
Director

Registered number: 05473714
The notes on pages 3 to 8 form part of these financial statements. 

2

 
Silvermoor Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

Silvermoor Ltd (‘the company’) is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Citygate Second Floor, St James' Boulevard, Newcastle upon Tyne, Tyne And Wear, United Kingdom, NE1 4JE.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

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

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

3

 
Silvermoor Limited
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
15%
reducing balance and 5% on cost
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

4

 
Silvermoor Limited
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 18).

5

 
Silvermoor Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
810,233
1,979,921
68,652
43,151
2,901,957


Additions
14,182
115,318
49,567
858
179,925


Disposals
-
-
(21,353)
-
(21,353)



At 31 March 2024

824,415
2,095,239
96,866
44,009
3,060,529



Depreciation


At 1 April 2023
44,366
639,120
53,845
2,657
739,988


Charge for the year on owned assets
16,593
169,790
11,250
10,474
208,107


Disposals
-
-
(20,552)
-
(20,552)



At 31 March 2024

60,959
808,910
44,543
13,131
927,543



Net book value



At 31 March 2024
763,456
1,286,329
52,323
30,878
2,132,986



At 31 March 2023
765,867
1,340,801
14,807
40,494
2,161,969


5.


Debtors

2024
2023
£
£



Trade debtors
274,824
165,812

Other debtors
15,429
16,330

Prepayments and accrued income
3,950
-

294,203
182,142


6

 
Silvermoor Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
296,938
307,609

Taxation and social security
93,249
52,078

Obligations under finance lease and hire purchase contracts
145,344
149,736

Other creditors
646,669
459,136

Accruals and deferred income
24,000
12,000

Bank loans and overdrafts
610,600
520,002

1,816,800
1,500,561


The following liabilities were secured:

2024
2023
£
£



Bank loans
310,929
138,347

Bank overdrafts
299,671
381,655

Hire purchase contracts
145,344
149,736

755,944
669,738

Details of security provided:

HSBC Bank Plc hold a fixed and floating charge over the undertaking and all property and assets present and future.
Amounts included under hire purchase are secured against the assets to which they relate.

7

 
Silvermoor Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

7.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,215,707
659,721

Net obligations under finance leases and hire purchase contracts
162,754
219,105

1,378,461
878,826


The following liabilities were secured:

2024
2023
£
£



Bank loans
1,215,707
659,721

Hire purchase contracts
162,754
219,105

1,378,461
878,826

Details of security provided:

HSBC Bank Plc hold a fixed and floating charge over the undertaking and all property and assets present and future. 
Amounts included under hire purchase are secured against the assets to which they relate.

 
8