Registered number
10221871
Silver Mountain Accountancy Limited
Filleted Accounts
30 June 2024
Silver Mountain Accountancy Limited
Registered number: 10221871
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,864 3,047
Current assets
Debtors 4 3,681 18,125
Cash at bank and in hand 2,409 43,249
6,090 61,374
Creditors: amounts falling due within one year 5 (1,552) (42,488)
Net current assets 4,538 18,886
Total assets less current liabilities 6,402 21,933
Creditors: amounts falling due after more than one year 6 - (8,000)
Net assets 6,402 13,933
Capital and reserves
Called up share capital 2 2
Profit and loss account 6,400 13,931
Shareholder's funds 6,402 13,933
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
H Sheppard
Director
Approved by the board on 21 March 2025
Silver Mountain Accountancy Limited
Notes to the Accounts
for the year ended 30 June 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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the services.
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:
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
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 10,113
Additions 358
Disposals (1,934)
At 30 June 2024 8,537
Depreciation
At 1 July 2023 7,066
Charge for the year 1,541
On disposals (1,934)
At 30 June 2024 6,673
Net book value
At 30 June 2024 1,864
At 30 June 2023 3,047
4 Debtors 2024 2023
£ £
Trade debtors 3,681 17,461
Other debtors - 664
3,681 18,125
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 4,000
Taxation and social security costs (1,243) 22,141
Other creditors 2,795 16,347
1,552 42,488
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 8,000
7 Controlling party
The company is controlled by the director.
8 Other information
Silver Mountain Accountancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cedar House
Hazell Drive
Newport
NP10 8FY
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