Company registration number 07103820 (England and Wales)
SILVERLEIGH SPA  LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SILVERLEIGH SPA  LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SILVERLEIGH SPA  LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
82,766
85,655
Current assets
Debtors
5
1,137
3,812
Cash at bank and in hand
18,532
10,183
19,669
13,995
Creditors: amounts falling due within one year
6
(63,569)
(57,174)
Net current liabilities
(43,900)
(43,179)
Total assets less current liabilities
38,866
42,476
Creditors: amounts falling due after more than one year
7
(82,325)
(99,051)
Provisions for liabilities
(1,150)
-
0
Net liabilities
(44,609)
(56,575)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(44,611)
(56,577)
Total equity
(44,609)
(56,575)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

SILVERLEIGH SPA  LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 October 2024 and are signed on its behalf by:
A J T Carter
Director
Company Registration No. 07103820
SILVERLEIGH SPA  LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Silverleigh Spa Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Yeomans Court, Ware Road, Hertford, Hertfordshire, United Kingdom, SG13 7HJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Going concern

The director considers the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that cast doubt about the ability of the company to continue as a going concern.

 

The company currently meets its day to day working capital requirements with the help of loans made to the company through a bank loan secured by a personal guarantee from the director. It is the director's intention to continue to support the company financially and therefore there is a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future.

 

However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern.

 

1.3
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvement to property
2% straight line
Fixtures and fittings
20% on reducing balance
Motor vehicles
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SILVERLEIGH SPA  LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation
Current tax

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.

1.8
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.

SILVERLEIGH SPA  LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

The directors consider that there are no significant judgements or estimates in the preparation of these financial statements.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
9
9
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
72,839
60,955
133,794
Additions
-
0
2,425
2,425
At 31 March 2024
72,839
63,380
136,219
Depreciation and impairment
At 1 April 2023
4,290
43,849
48,139
Depreciation charged in the year
1,457
3,857
5,314
At 31 March 2024
5,747
47,706
53,453
Carrying amount
At 31 March 2024
67,092
15,674
82,766
At 31 March 2023
68,549
17,106
85,655
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,137
1,806
SILVERLEIGH SPA  LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Debtors
(Continued)
- 6 -
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
2,006
Total debtors
1,137
3,812
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
29,298
12,791
Trade creditors
4,413
18,976
Taxation and social security
9,985
6,915
Other creditors
19,873
18,492
63,569
57,174

The bank loan is secured by a personal guarantee from the director, A J T Carter

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
82,325
99,051
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