Silverfin false false 31/07/2024 01/08/2023 31/07/2024 J E Sirhan 01/08/1989 R M Sirhan 01/08/1989 20 December 2024 The principal activity of the Company during the financial year was the import and export of electronic components. 02409929 2024-07-31 02409929 bus:Director1 2024-07-31 02409929 bus:Director2 2024-07-31 02409929 2023-07-31 02409929 core:CurrentFinancialInstruments 2024-07-31 02409929 core:CurrentFinancialInstruments 2023-07-31 02409929 core:ShareCapital 2024-07-31 02409929 core:ShareCapital 2023-07-31 02409929 core:RevaluationReserve 2024-07-31 02409929 core:RevaluationReserve 2023-07-31 02409929 core:RetainedEarningsAccumulatedLosses 2024-07-31 02409929 core:RetainedEarningsAccumulatedLosses 2023-07-31 02409929 core:InvestmentPropertyIncludedWithinPPE 2023-07-31 02409929 core:OfficeEquipment 2023-07-31 02409929 core:InvestmentPropertyIncludedWithinPPE 2024-07-31 02409929 core:OfficeEquipment 2024-07-31 02409929 2023-08-01 2024-07-31 02409929 bus:FilletedAccounts 2023-08-01 2024-07-31 02409929 bus:SmallEntities 2023-08-01 2024-07-31 02409929 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 02409929 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02409929 bus:Director1 2023-08-01 2024-07-31 02409929 bus:Director2 2023-08-01 2024-07-31 02409929 core:InvestmentPropertyIncludedWithinPPE core:TopRangeValue 2023-08-01 2024-07-31 02409929 core:OfficeEquipment 2023-08-01 2024-07-31 02409929 2022-08-01 2023-07-31 02409929 core:InvestmentPropertyIncludedWithinPPE 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: 02409929 (England and Wales)

SILVERLINE ENTERPRISES LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

SILVERLINE ENTERPRISES LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

SILVERLINE ENTERPRISES LIMITED

BALANCE SHEET

As at 31 July 2024
SILVERLINE ENTERPRISES LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 314,858 320,407
314,858 320,407
Current assets
Debtors 4 88,668 251,290
Cash at bank and in hand 110,703 4,935
199,371 256,225
Creditors: amounts falling due within one year 5 ( 157,046) ( 180,317)
Net current assets 42,325 75,908
Total assets less current liabilities 357,183 396,315
Provision for liabilities ( 78,715) ( 54,212)
Net assets 278,468 342,103
Capital and reserves
Called-up share capital 1,000 1,000
Revaluation reserve 229,329 229,329
Profit and loss account 48,139 111,774
Total shareholders' funds 278,468 342,103

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Silverline Enterprises Limited (registered number: 02409929) were approved and authorised for issue by the Board of Directors on 20 December 2024. They were signed on its behalf by:

R M Sirhan
Director
SILVERLINE ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
SILVERLINE ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Silverline Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Silverline House, 17 Fancy Road, Poole, BH12 4QZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer and Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted. The deferred tax charge has been updated to reflect the increase in Corporation Tax rates as at 1 April 2023 to 25%.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Investment property 50 years straight line
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Investment property Office equipment Total
£ £ £
Cost
At 01 August 2023 418,400 100,927 519,327
Additions 0 915 915
At 31 July 2024 418,400 101,842 520,242
Accumulated depreciation
At 01 August 2023 100,776 98,144 198,920
Charge for the financial year 5,768 696 6,464
At 31 July 2024 106,544 98,840 205,384
Net book value
At 31 July 2024 311,856 3,002 314,858
At 31 July 2023 317,624 2,783 320,407

4. Debtors

2024 2023
£ £
Trade debtors 77,000 213,214
Other debtors 11,668 38,076
88,668 251,290

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 26,078 45,662
Taxation and social security 953 1,977
Other creditors 130,015 132,678
157,046 180,317