IRIS Accounts Production v24.3.2.46 02960695 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh029606952023-05-31029606952024-05-31029606952023-06-012024-05-31029606952022-05-31029606952022-06-012023-05-31029606952023-05-3102960695ns15:EnglandWales2023-06-012024-05-3102960695ns14:PoundSterling2023-06-012024-05-3102960695ns10:Director12023-06-012024-05-3102960695ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3102960695ns10:SmallEntities2023-06-012024-05-3102960695ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3102960695ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3102960695ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3102960695ns10:FullAccounts2023-06-012024-05-310296069512023-06-012024-05-3102960695ns10:Director22023-06-012024-05-3102960695ns10:Director32023-06-012024-05-3102960695ns10:CompanySecretary12023-06-012024-05-3102960695ns10:RegisteredOffice2023-06-012024-05-3102960695ns5:CurrentFinancialInstruments2024-05-3102960695ns5:CurrentFinancialInstruments2023-05-3102960695ns5:Non-currentFinancialInstruments2024-05-3102960695ns5:Non-currentFinancialInstruments2023-05-3102960695ns5:ShareCapital2024-05-3102960695ns5:ShareCapital2023-05-3102960695ns5:RetainedEarningsAccumulatedLosses2024-05-3102960695ns5:RetainedEarningsAccumulatedLosses2023-05-3102960695ns5:NetGoodwill2023-06-012024-05-3102960695ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3102960695ns5:PlantMachinery2023-06-012024-05-3102960695ns5:FurnitureFittings2023-06-012024-05-3102960695ns5:MotorVehicles2023-06-012024-05-3102960695ns5:NetGoodwill2023-05-3102960695ns5:NetGoodwill2024-05-3102960695ns5:NetGoodwill2023-05-3102960695ns5:PlantMachinery2023-05-3102960695ns5:FurnitureFittings2023-05-3102960695ns5:MotorVehicles2023-05-3102960695ns5:ComputerEquipment2023-05-3102960695ns5:ComputerEquipment2023-06-012024-05-3102960695ns5:PlantMachinery2024-05-3102960695ns5:FurnitureFittings2024-05-3102960695ns5:MotorVehicles2024-05-3102960695ns5:ComputerEquipment2024-05-3102960695ns5:PlantMachinery2023-05-3102960695ns5:FurnitureFittings2023-05-3102960695ns5:MotorVehicles2023-05-3102960695ns5:ComputerEquipment2023-05-3102960695ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-3102960695ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-012024-05-3102960695ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-05-3102960695ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-3102960695ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3102960695ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3102960695ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3102960695ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3102960695ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-05-3102960695ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-05-3102960695ns5:HirePurchaseContracts2024-05-3102960695ns5:HirePurchaseContracts2023-05-3102960695ns5:WithinOneYear2024-05-3102960695ns5:WithinOneYear2023-05-3102960695ns5:BetweenOneFiveYears2024-05-3102960695ns5:BetweenOneFiveYears2023-05-3102960695ns5:AllPeriods2024-05-3102960695ns5:AllPeriods2023-05-3102960695ns5:Secured2024-05-3102960695ns5:Secured2023-05-31
REGISTERED NUMBER: 02960695 (England and Wales)







SILVERLINE LANDFLIGHT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






SILVERLINE LANDFLIGHT LIMITED (REGISTERED NUMBER: 02960695)

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


SILVERLINE LANDFLIGHT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: W Matthews
P S Chaudhry
A Ali





SECRETARY:





REGISTERED OFFICE: Argent House
Vulcan Road
Solihull
B91 2JY





REGISTERED NUMBER: 02960695 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

SILVERLINE LANDFLIGHT LIMITED (REGISTERED NUMBER: 02960695)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,068,291 1,765,472
2,068,291 1,765,472

CURRENT ASSETS
Stocks 35,202 17,450
Debtors 6 618,093 819,758
Cash at bank and in hand 371,695 128,416
1,024,990 965,624
CREDITORS
Amounts falling due within one year 7 722,013 923,074
NET CURRENT ASSETS 302,977 42,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,371,268

1,808,022

CREDITORS
Amounts falling due after more than one
year

8

(1,170,434

)

(863,917

)

PROVISIONS FOR LIABILITIES (298,363 ) (229,651 )
NET ASSETS 902,471 714,454

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Retained earnings 402,471 214,454
SHAREHOLDERS' FUNDS 902,471 714,454

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.

SILVERLINE LANDFLIGHT LIMITED (REGISTERED NUMBER: 02960695)

BALANCE SHEET - continued
31 MAY 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 13 December 2024 and were signed on its behalf by:





A Ali - Director


SILVERLINE LANDFLIGHT LIMITED (REGISTERED NUMBER: 02960695)

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


1. STATUTORY INFORMATION

Silverline Landflight 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 represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty years.

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.

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.
Plant and machinery - at varying rates on cost
Fixtures and fittings - at variable rates on reducing balance
Motor vehicles - at varying rates on cost

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.


SILVERLINE LANDFLIGHT LIMITED (REGISTERED NUMBER: 02960695)

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful lives. The interest element of the rental obligations is charged to the profit and loss account 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 72 (2023 - 73 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 275,000
AMORTISATION
At 1 June 2023
and 31 May 2024 275,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

SILVERLINE LANDFLIGHT LIMITED (REGISTERED NUMBER: 02960695)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 51,033 22,777 3,119,608 10,721 3,204,139
Additions - - 622,332 1,706 624,038
Disposals - - (106,096 ) - (106,096 )
At 31 May 2024 51,033 22,777 3,635,844 12,427 3,722,081
DEPRECIATION
At 1 June 2023 42,606 22,777 1,368,862 4,422 1,438,667
Charge for year 2,392 - 315,124 3,703 321,219
Eliminated on disposal - - (106,096 ) - (106,096 )
At 31 May 2024 44,998 22,777 1,577,890 8,125 1,653,790
NET BOOK VALUE
At 31 May 2024 6,035 - 2,057,954 4,302 2,068,291
At 31 May 2023 8,427 - 1,750,746 6,299 1,765,472

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 1,669,063
Additions 622,332
Transfer to ownership (360,550 )
At 31 May 2024 1,930,845
DEPRECIATION
At 1 June 2023 261,812
Charge for year 182,433
Transfer to ownership (211,217 )
At 31 May 2024 233,028
NET BOOK VALUE
At 31 May 2024 1,697,817
At 31 May 2023 1,407,251

SILVERLINE LANDFLIGHT LIMITED (REGISTERED NUMBER: 02960695)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 283,536 332,797
Other debtors 334,557 486,961
618,093 819,758

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,056 9,808
Hire purchase contracts (see note 9) 299,512 506,330
Trade creditors 244,671 188,681
Amounts owed to group undertakings - 75,000
Taxation and social security 38,191 34,491
Other creditors 129,583 108,764
722,013 923,074

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 18,214 28,271
Hire purchase contracts (see note 9) 1,152,220 835,646
1,170,434 863,917

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 299,512 506,330
Between one and five years 1,152,220 835,646
1,451,732 1,341,976

SILVERLINE LANDFLIGHT LIMITED (REGISTERED NUMBER: 02960695)

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


9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 270,689 223,909
Between one and five years 168,500 88,496
439,189 312,405

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 28,270 38,079
Hire purchase contracts 1,451,732 1,341,976
1,480,002 1,380,055

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Crown Cars Solihull Ltd.

Registered office Argent House, 16 Vulcan Road, Solihull, West Midlands, B91 2JY.