Registered number
06315562
SYLVERSOFT LIMITED
Filleted Accounts
31 July 2024
SYLVERSOFT LIMITED
Registered number: 06315562
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,893 29,000
Current assets
Debtors 4 84,935 98,929
Investments held as current assets 5 237,447 234,567
Cash at bank and in hand 10,015 48,998
332,397 382,494
Creditors: amounts falling due within one year 6 (7,453) (41,810)
Net current assets 324,944 340,684
Net assets 354,837 369,684
Capital and reserves
Called up share capital 1 1
Profit and loss account 354,836 369,683
Shareholder's funds 354,837 369,684
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Patrick Davis
Director
Approved by the board on 20 January 2025
SYLVERSOFT LIMITED
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 27,587 3,278 30,865
Additions 2,036 - 2,036
At 31 July 2024 29,623 3,278 32,901
Depreciation
At 1 August 2023 - 1,865 1,865
Charge for the year 889 254 1,143
At 31 July 2024 889 2,119 3,008
Net book value
At 31 July 2024 28,734 1,159 29,893
At 31 July 2023 27,587 1,413 29,000
4 Debtors 2024 2023
£ £
Trade debtors 3,685 15,540
Other debtors 81,250 83,389
84,935 98,929
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 237,447 234,567
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,093 6,809
Taxation and social security costs 3,859 26,889
Other creditors 2,501 8,112
7,453 41,810
7 Other information
SYLVERSOFT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Saxon House
27 Duke Street
Chelmsford
CM1 1HT
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