Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13043852 2022-12-01 2023-11-30 13043852 2021-12-01 2022-11-30 13043852 2023-11-30 13043852 2022-11-30 13043852 c:Director2 2022-12-01 2023-11-30 13043852 d:CurrentFinancialInstruments 2023-11-30 13043852 d:CurrentFinancialInstruments 2022-11-30 13043852 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 13043852 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 13043852 d:ShareCapital 2023-11-30 13043852 d:ShareCapital 2022-11-30 13043852 d:RetainedEarningsAccumulatedLosses 2023-11-30 13043852 d:RetainedEarningsAccumulatedLosses 2022-11-30 13043852 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 13043852 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 13043852 c:FRS102 2022-12-01 2023-11-30 13043852 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 13043852 c:FullAccounts 2022-12-01 2023-11-30 13043852 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13043852 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 13043852










TH SILVERSTONE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2023

 
TH SILVERSTONE LIMITED
REGISTERED NUMBER: 13043852

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
966,267
3,413,527

Debtors: amounts falling due within one year
 4 
14,162
189,377

Cash at bank and in hand
  
57,985
216,538

  
1,038,414
3,819,442

Creditors: amounts falling due within one year
 5 
(1,117,254)
(3,824,061)

Net current liabilities
  
 
 
(78,840)
 
 
(4,619)

Total assets less current liabilities
  
(78,840)
(4,619)

Provisions for liabilities
  

Deferred tax
 6 
(1,179)
-

  
 
 
(1,179)
 
 
-

Net liabilities
  
(80,019)
(4,619)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(80,119)
(4,719)

  
(80,019)
(4,619)


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 period 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 28 November 2024.


Page 1

 
TH SILVERSTONE LIMITED
REGISTERED NUMBER: 13043852
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023



D E Vercoe
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
TH SILVERSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

1.


General information

TH Silverstone Limited (13043852) is a private company limited by shares and incorporated in England & Wales. Its registered office address is Unit 3a, Manor Business Park, Grants Hill Way, Woodford Halse, Daventry, Northamptonshire, NN11 3UB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
TH SILVERSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the period 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 reporting 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 reporting 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 reporting date.


 
2.5

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 reporting 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
TH SILVERSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Trade debtors
4,065
329

Amounts owed by joint ventures and associated undertakings
1,551
109,237

Other debtors
8,546
79,811



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
167,712
2,591,226

Other loans
400,101
400,101

Trade creditors
104,485
720,564

Amounts owed to other participating interests
289,527
40,054

Corporation tax
72,936
-

Other creditors
65,014
54,795

Accruals and deferred income
17,479
17,321

1,117,254
3,824,061


Page 5

 
TH SILVERSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

6.


Deferred taxation




2023


£






Charged to profit or loss
(1,180)



At end of year
(1,180)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,180)
-

(1,180)
-

 
Page 6