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REGISTERED NUMBER: 07364085 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SILKWOOD TRADERS LIMITED

SILKWOOD TRADERS LIMITED (REGISTERED NUMBER: 07364085)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SILKWOOD TRADERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J Rennie
J Rennie





REGISTERED OFFICE: Carlton House
28-29 Carlton Terrace
Brighton
East Sussex
BN41 1UR





REGISTERED NUMBER: 07364085 (England and Wales)





ACCOUNTANTS: Haines & Co
Chartered Accountants
Carlton House
28-29 Carlton Terrace
Portslade
Brighton
BN41 1UR

SILKWOOD TRADERS LIMITED (REGISTERED NUMBER: 07364085)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 7,672 7,324
Debtors 5 - 1,481
Cash at bank 17,986 29,170
25,658 37,975
CREDITORS
Amounts falling due within one year 6 9,466 9,926
NET CURRENT ASSETS 16,192 28,049
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,192

28,049

CREDITORS
Amounts falling due after more than one year 7 21,217 26,489
NET (LIABILITIES)/ASSETS (5,025 ) 1,560

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (5,225 ) 1,360
SHAREHOLDERS' FUNDS (5,025 ) 1,560

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

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

SILKWOOD TRADERS LIMITED (REGISTERED NUMBER: 07364085)

BALANCE SHEET - continued
31 MARCH 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 24 October 2024 and were signed on its behalf by:





J Rennie - Director


SILKWOOD TRADERS LIMITED (REGISTERED NUMBER: 07364085)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Silkwood Traders 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.

Changes in accounting policies
.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SILKWOOD TRADERS LIMITED (REGISTERED NUMBER: 07364085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 6,291
DEPRECIATION
At 1 April 2023
and 31 March 2024 6,291
NET BOOK VALUE
At 31 March 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 1,364
Tax - 117
- 1,481

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 4,024 3,925
Taxation and social security - 246
Other creditors 5,442 5,755
9,466 9,926

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 21,217 26,489

SILKWOOD TRADERS LIMITED (REGISTERED NUMBER: 07364085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,078 9,773

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,024 3,925

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,125 4,024

Amounts falling due between two and five years:
Bank loans - 2-5 years 13,014 12,692

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,078 9,773

The company received a bounce back loan of £35,500 in May 2020. The loan is unsecured and bears interest at 2.5% from June 2021. Interest only is payable from June 2021 and the loan is repayable from December 2021 in monthly instalments of £387.