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REGISTERED NUMBER: 09557691 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 30th April 2024

for

Silvaman Group Limited

Silvaman Group Limited (Registered number: 09557691)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Silvaman Group Limited

Company Information
for the Year Ended 30th April 2024







DIRECTOR: Mr P J Boden





REGISTERED OFFICE: Unit 3 Amphion Court
Hale Trading Estate
Lower Church Lane
Tipton
West Midlands
DY4 7HN





REGISTERED NUMBER: 09557691 (England and Wales)





ACCOUNTANTS: Rice & Co Limited
Chartered Accountants
14a Market Place
Uttoxeter
Staffordshire
ST14 8HP

Silvaman Group Limited (Registered number: 09557691)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 119,144 119,021

CURRENT ASSETS
Debtors 5 1,115,630 540,357
Cash at bank 114,490 453,657
1,230,120 994,014
CREDITORS
Amounts falling due within one year 6 1,050,669 608,449
NET CURRENT ASSETS 179,451 385,565
TOTAL ASSETS LESS CURRENT
LIABILITIES

298,595

504,586

CREDITORS
Amounts falling due after more than one
year

7

(189,200

)

(288,104

)

PROVISIONS FOR LIABILITIES (28,782 ) (27,933 )
NET ASSETS 80,613 188,549

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 80,513 188,449
SHAREHOLDERS' FUNDS 80,613 188,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Silvaman Group Limited (Registered number: 09557691)

Balance Sheet - continued
30th April 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 director and authorised for issue on 3rd December 2024 and were signed by:





Mr P J Boden - Director


Silvaman Group Limited (Registered number: 09557691)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Silvaman Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 and value added tax. Turnover is recognised when services have been provided resulting in the company obtaining the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - 20% on cost
Plant and equipment - 25% on cost
Motor vehicles - 25% on reducing balance

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.

Silvaman Group Limited (Registered number: 09557691)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 10 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor
improvements equipment vehicles Totals
£    £    £    £   
COST
At 1st May 2023 15,116 50,115 137,852 203,083
Additions - 13,868 28,982 42,850
Disposals (15,116 ) - (28,350 ) (43,466 )
At 30th April 2024 - 63,983 138,484 202,467
DEPRECIATION
At 1st May 2023 11,337 41,174 31,551 84,062
Charge for year 3,023 4,977 27,783 35,783
Eliminated on disposal (14,360 ) - (22,162 ) (36,522 )
At 30th April 2024 - 46,151 37,172 83,323
NET BOOK VALUE
At 30th April 2024 - 17,832 101,312 119,144
At 30th April 2023 3,779 8,941 106,301 119,021


Silvaman Group Limited (Registered number: 09557691)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 928,188 293,821
Amounts owed by group undertakings 145,318 145,318
Other debtors 42,124 101,218
1,115,630 540,357

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 41,607 41,607
Hire purchase contracts (see note 8) 12,551 11,846
Trade creditors 321,758 255,916
Amounts owed to group undertakings 260,000 -
Taxation and social security 274,932 145,602
Other creditors 139,821 153,478
1,050,669 608,449

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 63,143 104,155
Hire purchase contracts (see note 8) 16,829 29,380
Other creditors 109,228 154,569
189,200 288,104

Silvaman Group Limited (Registered number: 09557691)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 13,857 13,857
Between one and five years 17,522 31,379
31,379 45,236

Finance charges repayable:
Within one year 1,306 2,011
Between one and five years 693 1,999
1,999 4,010

Net obligations repayable:
Within one year 12,551 11,846
Between one and five years 16,829 29,380
29,380 41,226

Non-cancellable operating leases
2024 2023
£    £   
Within one year 20,000 -
Between one and five years 28,333 -
48,333 -

Silvaman Group Limited (Registered number: 09557691)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 104,750 145,762
Hire purchase contracts 29,380 41,226
134,130 186,988

Bank loans are secured by a charge over all assets of the company.

Hire purchase contracts are secured over the assets to which they relate.

10. RELATED PARTY DISCLOSURES

Included in debtors is £25,178 (2023 - £25,178) owed to the company by non-group companies controlled by Mr and Mrs P J Boden.