Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30322023-05-01falseNo description of principal activity38falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06212357 2023-05-01 2024-04-30 06212357 2022-05-01 2023-04-30 06212357 2024-04-30 06212357 2023-04-30 06212357 c:Director1 2023-05-01 2024-04-30 06212357 c:Director1 2024-04-30 06212357 c:Director3 2023-05-01 2024-04-30 06212357 c:Director4 2023-05-01 2024-04-30 06212357 c:Director4 2024-04-30 06212357 c:Director5 2023-05-01 2024-04-30 06212357 c:Director5 2024-04-30 06212357 c:Director6 2023-05-01 2024-04-30 06212357 c:Director6 2024-04-30 06212357 c:Director7 2023-05-01 2024-04-30 06212357 c:Director7 2024-04-30 06212357 c:RegisteredOffice 2023-05-01 2024-04-30 06212357 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 06212357 d:Buildings d:LongLeaseholdAssets 2024-04-30 06212357 d:Buildings d:LongLeaseholdAssets 2023-04-30 06212357 d:PlantMachinery 2023-05-01 2024-04-30 06212357 d:PlantMachinery 2024-04-30 06212357 d:PlantMachinery 2023-04-30 06212357 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06212357 d:MotorVehicles 2023-05-01 2024-04-30 06212357 d:MotorVehicles 2024-04-30 06212357 d:MotorVehicles 2023-04-30 06212357 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06212357 d:FurnitureFittings 2023-05-01 2024-04-30 06212357 d:FurnitureFittings 2024-04-30 06212357 d:FurnitureFittings 2023-04-30 06212357 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06212357 d:OfficeEquipment 2023-05-01 2024-04-30 06212357 d:OfficeEquipment 2024-04-30 06212357 d:OfficeEquipment 2023-04-30 06212357 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06212357 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06212357 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 06212357 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 06212357 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 06212357 d:ComputerSoftware 2024-04-30 06212357 d:ComputerSoftware 2023-04-30 06212357 d:CurrentFinancialInstruments 2024-04-30 06212357 d:CurrentFinancialInstruments 2023-04-30 06212357 d:Non-currentFinancialInstruments 2024-04-30 06212357 d:Non-currentFinancialInstruments 2023-04-30 06212357 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06212357 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06212357 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 06212357 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 06212357 d:ShareCapital 2024-04-30 06212357 d:ShareCapital 2023-04-30 06212357 d:RetainedEarningsAccumulatedLosses 2024-04-30 06212357 d:RetainedEarningsAccumulatedLosses 2023-04-30 06212357 c:FRS102 2023-05-01 2024-04-30 06212357 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 06212357 c:FullAccounts 2023-05-01 2024-04-30 06212357 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06212357 d:WithinOneYear 2024-04-30 06212357 d:WithinOneYear 2023-04-30 06212357 2 2023-05-01 2024-04-30 06212357 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-05-01 2024-04-30 06212357 d:ComputerSoftware d:OwnedIntangibleAssets 2023-05-01 2024-04-30 06212357 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Company registration number: 06212357







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024


SILVER LINING CONVERGENCE LTD






































img46f8.png                        

 


SILVER LINING CONVERGENCE LTD
 


 
COMPANY INFORMATION


Directors
Mr R D Dickinson (resigned 4 September 2024)
Mr A S Packer 
Mr R N H Bailey (appointed 4 September 2024)
C E Friend (appointed 4 September 2024)
Mr M J Halford (appointed 4 September 2024)
V C Rishbeth (appointed 4 September 2024)




Registered number
06212357



Registered office
Focus House
Ham Road

Shoreham-By-Sea

West Sussex

BN43 6PA




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


SILVER LINING CONVERGENCE LTD
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 11


 


SILVER LINING CONVERGENCE LTD
REGISTERED NUMBER:06212357



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
4,420
10,656

Tangible assets
 6 
220,997
235,050

  
225,417
245,706

Current assets
  

Stocks
  
189,442
195,440

Debtors: amounts falling due within one year
 7 
2,769,198
2,896,613

Cash at bank and in hand
  
1,176,544
447,327

  
4,135,184
3,539,380

Creditors: amounts falling due within one year
 8 
(954,875)
(1,119,238)

Net current assets
  
 
 
3,180,309
 
 
2,420,142

Total assets less current liabilities
  
3,405,726
2,665,848

Creditors: amounts falling due after more than one year
 9 
-
(26,130)

Provisions for liabilities
  

Deferred tax
  
(50,185)
(50,185)

  
 
 
(50,185)
 
 
(50,185)

Net assets
  
3,355,541
2,589,533

Page 1

 


SILVER LINING CONVERGENCE LTD
REGISTERED NUMBER:06212357


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
3,355,341
2,589,333

  
3,355,541
2,589,533


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 year 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 income and retained earnings 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 by: 




Mr A S Packer
Director

Date: 31 January 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 


SILVER LINING CONVERGENCE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Silver Lining Convergence Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 


SILVER LINING CONVERGENCE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 


SILVER LINING CONVERGENCE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

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

 
2.9

Current and deferred taxation

The tax expense for the year 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.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
5
years

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 


SILVER LINING CONVERGENCE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
20%
straight line basis
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
33%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

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 weighted average 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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 6

 


SILVER LINING CONVERGENCE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.16

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.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 


SILVER LINING CONVERGENCE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 38 (2023 - 32).


4.


Exceptional items

2024
2023
£
£
Group tax relief

-

459,556
 
-

459,556
 


5.


Intangible assets




Development
Website
Total

£
£
£



Cost


At 1 May 2023
48,524
5,755
54,279



At 30 April 2024

48,524
5,755
54,279



Amortisation


At 1 May 2023
41,321
2,302
43,623


Charge for the year on owned assets
5,085
1,151
6,236



At 30 April 2024

46,406
3,453
49,859



Net book value



At 30 April 2024
2,118
2,302
4,420



At 30 April 2023
7,203
3,453
10,656



Page 8

SILVER LINING CONVERGENCE LTD
  
 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024



6.


Tangible fixed assets






Leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 May 2023
61,947
7,395
225,141
30,198
180,249
504,930


Additions
-
-
32,894
6,269
26,751
65,914


Disposals
-
-
(1,350)
-
(18,260)
(19,610)



At 30 April 2024

61,947
7,395
256,685
36,467
188,740
551,234



Depreciation


At 1 May 2023
35,483
2,915
74,731
22,616
134,135
269,880


Charge for the year on owned assets
6,894
1,000
39,566
2,151
28,768
78,379


Disposals
-
-
-
-
(18,022)
(18,022)



At 30 April 2024

42,377
3,915
114,297
24,767
144,881
330,237



Net book value



At 30 April 2024
19,570
3,480
142,388
11,700
43,859
220,997



At 30 April 2023
26,463
4,480
150,410
7,582
46,115
235,050

Page 9
 


SILVER LINING CONVERGENCE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors

2024
2023
£
£


Trade debtors
985,264
1,141,682

Amounts owed by group undertakings
1,433,462
1,351,873

Other debtors
31,643
31,244

Prepayments and accrued income
318,829
371,814

2,769,198
2,896,613



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
26,130
43,187

Trade creditors
205,274
436,054

Amounts owed to group undertakings
-
129,428

Corporation tax
237,998
102,838

Other taxation and social security
264,842
208,752

Other creditors
35,837
15,835

Accruals and deferred income
184,794
183,144

954,875
1,119,238



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
26,130

-
26,130


Page 10

 


SILVER LINING CONVERGENCE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


10.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
32,352
30,516

32,352
30,516


11.


Transactions with directors

Included within the debtors due within one year are amounts owed to the company by the director, amounting to £263 (2023: £3,945). The loan was interest free and therefore deemed to not be at market rate.

 
Page 11