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REGISTERED NUMBER: 10764050 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SILVER BULLET STUDIOS LTD

SILVER BULLET STUDIOS LTD (REGISTERED NUMBER: 10764050)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SILVER BULLET STUDIOS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: C Lazouras





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 10764050 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

SILVER BULLET STUDIOS LTD (REGISTERED NUMBER: 10764050)

BALANCE SHEET
31 MAY 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 5,558 6,988
Investments 5 19 31
5,577 7,019

CURRENT ASSETS
Debtors 6 86,041 131,103
Cash at bank 36,562 511
122,603 131,614
CREDITORS
Amounts falling due within one year 7 113,733 60,264
NET CURRENT ASSETS 8,870 71,350
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,447

78,369

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,347 78,269
SHAREHOLDERS' FUNDS 14,447 78,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2025 and were signed by:





C Lazouras - Director


SILVER BULLET STUDIOS LTD (REGISTERED NUMBER: 10764050)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Silver Bullet Studios Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax

Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:


Motor vehicles 20% on Reducing Balance
Office equipment 33% on Reducing Balance

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Investments in associates
Investments in associate undertakings are recognised at cost.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SILVER BULLET STUDIOS LTD (REGISTERED NUMBER: 10764050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 1,867 16,443 18,310
DEPRECIATION
At 1 June 2022 1,615 9,707 11,322
Charge for year 83 1,347 1,430
At 31 May 2023 1,698 11,054 12,752
NET BOOK VALUE
At 31 May 2023 169 5,389 5,558
At 31 May 2022 252 6,736 6,988

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 June 2022 31
Disposals (12 )
At 31 May 2023 19
NET BOOK VALUE
At 31 May 2023 19
At 31 May 2022 31

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 24,983 24,983
Amounts owed by connected companies - 1,500
Other debtors 61,058 104,620
86,041 131,103

SILVER BULLET STUDIOS LTD (REGISTERED NUMBER: 10764050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Amounts owed to group undertakings 15,250 -
Taxation and social security 48,975 45,965
Other creditors 49,508 14,299
113,733 60,264

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
as restated
£    £   
C Lazouras
Balance outstanding at start of year 56,098 (2,799 )
Amounts advanced 37,132 59,447
Amounts repaid (57,194 ) (550 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,036 56,098

Interest of £1,188 was charged at the official rate during the year.

9. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year is an amount of £15,250 (2022: £1,500 owed by) owed to connected company.