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Company No: 12862910 (England and Wales)

PIKE RESTRUCTURING LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

PIKE RESTRUCTURING LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

PIKE RESTRUCTURING LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
PIKE RESTRUCTURING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 6,461 5,188
6,461 5,188
Current assets
Debtors 4 203,271 229,844
Cash at bank and in hand 779,992 810,146
983,263 1,039,990
Creditors: amounts falling due within one year 5 ( 110,531) ( 279,586)
Net current assets 872,732 760,404
Total assets less current liabilities 879,193 765,592
Net assets 879,193 765,592
Capital and reserves
Called-up share capital 1 1
Profit and loss account 879,192 765,591
Total shareholder's funds 879,193 765,592

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Pike Restructuring Limited (registered number: 12862910) were approved and authorised for issue by the Director. They were signed on its behalf by:

Nicholas John Pike
Director

27 January 2025

PIKE RESTRUCTURING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
PIKE RESTRUCTURING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Pike Restructuring 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 20 Leicester House Thomas Wyatt Close, Norwich, NR2 2TN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so 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.

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 Statement of Financial Position date.

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 or reducing balance basis over its expected useful life, as follows:

Office equipment 25 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 October 2023 7,192 7,192
Additions 3,129 3,129
At 30 September 2024 10,321 10,321
Accumulated depreciation
At 01 October 2023 2,004 2,004
Charge for the financial year 1,856 1,856
0 0
At 30 September 2024 3,860 3,860
Net book value
At 30 September 2024 6,461 6,461
At 30 September 2023 5,188 5,188

4. Debtors

2024 2023
£ £
Trade debtors 149,323 145,098
Amounts owed by director 2,020 0
Prepayments and accrued income 51,928 84,746
203,271 229,844

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,575 0
Amounts owed to director 0 6,746
Accruals 3,320 4,018
Corporation tax 36,814 189,337
Deferred tax liability 847 1,297
Other taxation and social security 60,586 78,058
Other creditors 7,389 130
110,531 279,586

6. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 1,297) ( 628)
Credited/(charged) to the Income Statement 450 ( 669)
At the end of financial year ( 847) ( 1,297)

The deferred taxation balance is made up as follows:

2024 2023
£ £
Accelerated capital allowances ( 1,615) ( 1,297)
Other timing differences 768 0
( 847) ( 1,297)

7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 3,071 0