Silverfin false false 31/03/2024 01/10/2023 31/03/2024 Mrs L Dwyer 02/08/2023 Mr H Smith 02/08/2023 16 October 2024 The principle activity of the Company during the financial year is that of a cafe and take-away food shop. 15045547 2024-03-31 15045547 bus:Director1 2024-03-31 15045547 bus:Director2 2024-03-31 15045547 core:CurrentFinancialInstruments 2024-03-31 15045547 core:ShareCapital 2024-03-31 15045547 core:RetainedEarningsAccumulatedLosses 2024-03-31 15045547 core:Goodwill 2023-09-30 15045547 2023-09-30 15045547 core:Goodwill 2024-03-31 15045547 core:PlantMachinery 2023-09-30 15045547 core:FurnitureFittings 2023-09-30 15045547 core:PlantMachinery 2024-03-31 15045547 core:FurnitureFittings 2024-03-31 15045547 bus:OrdinaryShareClass1 2024-03-31 15045547 2023-10-01 2024-03-31 15045547 bus:FilletedAccounts 2023-10-01 2024-03-31 15045547 bus:SmallEntities 2023-10-01 2024-03-31 15045547 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-03-31 15045547 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-03-31 15045547 bus:Director1 2023-10-01 2024-03-31 15045547 bus:Director2 2023-10-01 2024-03-31 15045547 core:Goodwill core:TopRangeValue 2023-10-01 2024-03-31 15045547 core:Goodwill 2023-10-01 2024-03-31 15045547 core:PlantMachinery 2023-10-01 2024-03-31 15045547 core:FurnitureFittings 2023-10-01 2024-03-31 15045547 bus:OrdinaryShareClass1 2023-10-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15045547 (England and Wales)

HSLD LTD

Unaudited Financial Statements
For the financial period from 01 October 2023 to 31 March 2024
Pages for filing with the registrar

HSLD LTD

Unaudited Financial Statements

For the financial period from 01 October 2023 to 31 March 2024

Contents

HSLD LTD

BALANCE SHEET

As at 31 March 2024
HSLD LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Intangible assets 3 251,953
Tangible assets 4 15,875
267,828
Current assets
Stocks 13,500
Debtors 13,266
Cash at bank and in hand 84,773
111,539
Creditors: amounts falling due within one year 5 ( 355,711)
Net current liabilities (244,172)
Total assets less current liabilities 23,656
Provision for liabilities ( 842)
Net assets 22,814
Capital and reserves
Called-up share capital 6 100
Profit and loss account 22,714
Total shareholders' funds 22,814

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of HSLD Ltd (registered number: 15045547) were approved and authorised for issue by the Board of Directors on 16 October 2024. They were signed on its behalf by:

Mrs L Dwyer
Director
Mr H Smith
Director
HSLD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2023 to 31 March 2024
HSLD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

HSLD Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6 Moorland Villas, Yelverton, PL20 6DT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
01.10.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 14

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 0 0
Additions 265,214 265,214
At 31 March 2024 265,214 265,214
Accumulated amortisation
At 01 October 2023 0 0
Charge for the financial period 13,261 13,261
At 31 March 2024 13,261 13,261
Net book value
At 31 March 2024 251,953 251,953

4. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 October 2023 0 0 0
Additions 12,282 5,227 17,509
At 31 March 2024 12,282 5,227 17,509
Accumulated depreciation
At 01 October 2023 0 0 0
Charge for the financial period 1,228 406 1,634
At 31 March 2024 1,228 406 1,634
Net book value
At 31 March 2024 11,054 4,821 15,875

5. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 19,569
Taxation and social security 37,021
Other creditors 299,121
355,711

6. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

The shares were issued at the company incorporation date of 2 August 2023. On 1 October 2023, a partnership was incorporated into HSLD Ltd.