Registered number
08540766
Silverfin Search Limited
Filleted Accounts
31 May 2024
Silverfin Search Limited
Registered number: 08540766
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 43,043 49,852
Current assets
Debtors 4 39,861 36,875
Cash at bank and in hand 10,960 56,950
50,821 93,825
Creditors: amounts falling due within one year 5 (18,487) (27,983)
Net current assets 32,334 65,842
Total assets less current liabilities 75,377 115,694
Creditors: amounts falling due after more than one year 6 (8,416) (16,206)
Net assets 66,961 99,488
Capital and reserves
Called up share capital 200 200
Profit and loss account 66,761 99,288
Shareholders' funds 66,961 99,488
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
M.Silver
Director
Approved by the board on 31 July 2024
Silverfin Search Limited
Notes to the Accounts
for the year ended 31 May 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.
Intangible fixed assets
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:
Freehold buildings over 50 years
Motor Vehicles over 4 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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
Provisions
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 25,076 49,325 74,401
Additions 13,143 - 13,143
At 31 May 2024 38,219 49,325 87,544
Depreciation
At 1 June 2023 12,218 12,331 24,549
Charge for the year 7,644 12,308 19,952
At 31 May 2024 19,862 24,639 44,501
Net book value
At 31 May 2024 18,357 24,686 43,043
At 31 May 2023 12,858 36,994 49,852
4 Debtors 2024 2023
£ £
Other debtors 39,861 36,875
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,783 8,880
Other creditors 9,704 19,103
18,487 27,983
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,416 16,206
7 Controlling party
The Directors are the controlling party .
8 Other information
Silverfin Search Limited is a private company limited by shares and incorporated in England. Its registered office is:
The House
High Street
Tonbridge
Kent
TN12 7NQ
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