IRIS Accounts Production v24.3.2.46 SC565655 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5656552023-05-31SC5656552024-05-31SC5656552023-06-012024-05-31SC5656552022-05-31SC5656552022-06-012023-05-31SC5656552023-05-31SC565655ns15:Scotland2023-06-012024-05-31SC565655ns14:PoundSterling2023-06-012024-05-31SC565655ns10:Director12023-06-012024-05-31SC565655ns10:PrivateLimitedCompanyLtd2023-06-012024-05-31SC565655ns10:SmallEntities2023-06-012024-05-31SC565655ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-31SC565655ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-31SC565655ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-31SC565655ns10:FullAccounts2023-06-012024-05-31SC565655ns10:Director22023-06-012024-05-31SC565655ns10:Director32023-06-012024-05-31SC565655ns10:RegisteredOffice2023-06-012024-05-31SC565655ns5:CurrentFinancialInstruments2024-05-31SC565655ns5:CurrentFinancialInstruments2023-05-31SC565655ns5:Non-currentFinancialInstruments2024-05-31SC565655ns5:Non-currentFinancialInstruments2023-05-31SC565655ns5:ShareCapital2024-05-31SC565655ns5:ShareCapital2023-05-31SC565655ns5:RetainedEarningsAccumulatedLosses2024-05-31SC565655ns5:RetainedEarningsAccumulatedLosses2023-05-31SC565655ns5:LeaseholdImprovements2023-06-012024-05-31SC565655ns5:PlantMachinery2023-06-012024-05-31SC565655ns5:FurnitureFittings2023-06-012024-05-31SC565655ns5:MotorVehicles2023-06-012024-05-31SC565655ns5:LeaseholdImprovements2023-05-31SC565655ns5:PlantMachinery2023-05-31SC565655ns5:FurnitureFittings2023-05-31SC565655ns5:MotorVehicles2023-05-31SC565655ns5:LeaseholdImprovements2024-05-31SC565655ns5:PlantMachinery2024-05-31SC565655ns5:FurnitureFittings2024-05-31SC565655ns5:MotorVehicles2024-05-31SC565655ns5:LeaseholdImprovements2023-05-31SC565655ns5:PlantMachinery2023-05-31SC565655ns5:FurnitureFittings2023-05-31SC565655ns5:MotorVehicles2023-05-31SC565655ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-31SC565655ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31
REGISTERED NUMBER: SC565655 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

SILVER CITY LAUNDERERS LIMITED

SILVER CITY LAUNDERERS LIMITED (REGISTERED NUMBER: SC565655)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SILVER CITY LAUNDERERS LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A Carrara
D J S Duguid
R K Galvin





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC565655 (Scotland)






SILVER CITY LAUNDERERS LIMITED (REGISTERED NUMBER: SC565655)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,254 10,293

CURRENT ASSETS
Stocks 60,000 40,000
Debtors 5 259,199 228,623
Cash at bank and in hand 2,180 8,749
321,379 277,372
CREDITORS
Amounts falling due within one year 6 659,855 620,394
NET CURRENT LIABILITIES (338,476 ) (343,022 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(313,222

)

(332,729

)

CREDITORS
Amounts falling due after more than one year 7 10,417 19,980
NET LIABILITIES (323,639 ) (352,709 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (323,642 ) (352,712 )
(323,639 ) (352,709 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SILVER CITY LAUNDERERS LIMITED (REGISTERED NUMBER: SC565655)

Balance Sheet - continued
31 May 2024


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 Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





D J S Duguid - Director


SILVER CITY LAUNDERERS LIMITED (REGISTERED NUMBER: SC565655)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Silver City Launderers Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SILVER CITY LAUNDERERS LIMITED (REGISTERED NUMBER: SC565655)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 3,547 43,309 966 - 47,822
Additions - 13,868 1,090 4,750 19,708
At 31 May 2024 3,547 57,177 2,056 4,750 67,530
DEPRECIATION
At 1 June 2023 1,951 34,832 746 - 37,529
Charge for year 355 4,060 233 99 4,747
At 31 May 2024 2,306 38,892 979 99 42,276
NET BOOK VALUE
At 31 May 2024 1,241 18,285 1,077 4,651 25,254
At 31 May 2023 1,596 8,477 220 - 10,293

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 58,539 70,825
Other debtors 200,660 157,798
259,199 228,623

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,541 19,288
Trade creditors 210,954 176,913
Taxation and social security 329,282 240,873
Other creditors 103,078 183,320
659,855 620,394

SILVER CITY LAUNDERERS LIMITED (REGISTERED NUMBER: SC565655)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,417 19,980

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.

9. GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.