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Registered number: 10616778
Silver Salt Restoration Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mark Bonnici
John Gore
Jonathan Lack
Company Number 10616778
Registered Office 16 Soho Square
London
W1D 3QH
Accountants HJP Chartered
Audley House
Northbridge Road
Berkhamsted
Herts
HP4 1EH
Page 1
Page 2
Balance Sheet
Registered number: 10616778
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 204,337 188,545
204,337 188,545
CURRENT ASSETS
Stocks 5 1,500 -
Debtors 6 330,361 337,332
Cash at bank and in hand 225,881 214,391
557,742 551,723
Creditors: Amounts Falling Due Within One Year 7 (140,495 ) (222,646 )
NET CURRENT ASSETS (LIABILITIES) 417,247 329,077
TOTAL ASSETS LESS CURRENT LIABILITIES 621,584 517,622
Creditors: Amounts Falling Due After More Than One Year 8 (37,219 ) (19,889 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (51,084 ) (47,137 )
NET ASSETS 533,281 450,596
CAPITAL AND RESERVES
Called up share capital 10 500 500
Share premium account 51,600 51,600
Profit and Loss Account 481,181 398,496
SHAREHOLDERS' FUNDS 533,281 450,596
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mark Bonnici
Director
31 December 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Silver Salt Restoration Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10616778 . The registered office is 16 Soho Square, London, W1D 3QH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Presentation Currency
The accounts are presented in GBP sterling.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Where a contract for services provided is partially complete at the Reporting Date then turnover represents the value of services provided to date based on a proportion of the total expected consideration at completion.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 30% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 508,438 3,511 511,949
Additions 85,666 15,327 100,993
As at 31 July 2024 594,104 18,838 612,942
Depreciation
As at 1 August 2023 321,170 2,234 323,404
Provided during the period 81,880 3,321 85,201
As at 31 July 2024 403,050 5,555 408,605
Net Book Value
As at 31 July 2024 191,054 13,283 204,337
As at 1 August 2023 187,268 1,277 188,545
5. Stocks
2024 2023
£ £
Stock 1,500 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 278,871 305,948
Other debtors 51,490 31,384
330,361 337,332
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,760 -
Trade creditors 48,000 14,571
Bank loans and overdrafts 10,648 9,211
Other creditors 4,768 125,135
Taxation and social security 71,319 73,729
140,495 222,646
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 28,800 -
Bank loans 8,419 19,889
37,219 19,889
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,760 -
Later than one year and not later than five years 28,800 -
34,560 -
34,560 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 500 500
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 36,000
Later than one year and not later than five years 124,875 -
124,875 36,000
12. Post Balance Sheet Events
On 30 August 2024, the share capital of the company was purchased by John Gore Media Limiited.
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