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REGISTERED NUMBER: SC732010 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Sildvik Ltd

Sildvik Ltd (Registered number: SC732010)






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


Sildvik Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J A Finlay
Mrs G Finlay





REGISTERED OFFICE: Stoer
Heaste
Broadford
Isle of Skye
Highland
IV49 9BN





REGISTERED NUMBER: SC732010 (Scotland)





ACCOUNTANTS: Kennedy Accountancy & Bookkeeping Services Limited
Taigh Fearna
Lochalsh Business Park
Auchtertyre
Highland
IV40 8EG

Sildvik Ltd (Registered number: SC732010)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,000 60,000
Tangible assets 5 197,267 186,464
257,267 246,464

CURRENT ASSETS
Debtors 6 2,579 4,219
Cash at bank 28,599 2,754
31,178 6,973
CREDITORS
Amounts falling due within one year 7 199,697 227,872
NET CURRENT LIABILITIES (168,519 ) (220,899 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,748

25,565

CREDITORS
Amounts falling due after more than
one year

8

74,114

24,629
NET ASSETS 14,634 936

Sildvik Ltd (Registered number: SC732010)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 14,630 932
14,634 936

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.

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 15 November 2024 and were signed on its behalf by:





J A Finlay - Director


Sildvik Ltd (Registered number: SC732010)

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

1. STATUTORY INFORMATION

Sildvik Ltd is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.


Sildvik Ltd (Registered number: SC732010)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 60,000
NET BOOK VALUE
At 31 May 2024 60,000
At 31 May 2023 60,000

Sildvik Ltd (Registered number: SC732010)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 162,771 45,046 207,817
Boat additions 11,137 27,486 38,623
Disposals - (5,000 ) (5,000 )
At 31 May 2024 173,908 67,532 241,440
DEPRECIATION
At 1 June 2023 8,138 13,215 21,353
Charge for year 8,137 14,683 22,820
At 31 May 2024 16,275 27,898 44,173
NET BOOK VALUE
At 31 May 2024 157,633 39,634 197,267
At 31 May 2023 154,633 31,831 186,464

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 2,579 4,219

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,866 -
Trade creditors 1 -
Other creditors 188,830 227,872
199,697 227,872

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 54,508 -
Other creditors 19,606 24,629
74,114 24,629