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REGISTERED NUMBER: 08052178 (England and Wales)















Financial Statements for the Year Ended 31 July 2024

for

Silverlining Marine Limited

Silverlining Marine Limited (Registered number: 08052178)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Silverlining Marine Limited

Company Information
for the Year Ended 31 July 2024







Directors: J M Boddington
T J Boddington



Registered office: 114-120 Northgate Street
Chester
CH1 2HT



Registered number: 08052178 (England and Wales)



Senior statutory auditor: Robert Ellis FCA



Auditors: Ellis & Co (Accountants & Business Advisers) Ltd
Chartered Accountants
and Statutory Auditors
114-120 Northgate Street
Chester
CH1 2HT

Silverlining Marine Limited (Registered number: 08052178)

Statement of Financial Position
31 July 2024

31/7/24 31/7/23
Notes £    £   
Current assets
Debtors 4 1,295,284 1,075,081
Cash at bank 323,555 404,698
1,618,839 1,479,779
Creditors
Amounts falling due within one year 5 1,000,700 885,781
Net current assets 618,139 593,998
Total assets less current liabilities 618,139 593,998

Capital and reserves
Called up share capital 1 1
Retained earnings 618,138 593,997
618,139 593,998

Silverlining Marine Limited (Registered number: 08052178)

Statement of Financial Position - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





J M Boddington - Director


Silverlining Marine Limited (Registered number: 08052178)

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

1. Statutory information

Silverlining Marine Limited 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.

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Profit is recognised on long-term contracts if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity advances.

Long-term contracts
Amounts recoverable on long-term contracts are included in debtors and are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


Silverlining Marine Limited (Registered number: 08052178)

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

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2023 - NIL).

4. Debtors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Trade debtors 174,888 31,154
Amounts owed by group undertakings 1,064,783 554,796
Amounts recoverable on
contracts 1,463 342,414
Other debtors 54,150 146,717
1,295,284 1,075,081

5. Creditors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Payments on account 607,464 233,811
Trade creditors 17,933 92,994
Amounts owed to group undertakings 356,134 506,149
Taxation and social security - 4,518
Other creditors 19,169 48,309
1,000,700 885,781

6. Disclosure under Section 444(5B) of the Companies Act 2006

The financial statements of the company for the year ended 31 July 2024 were audited by Ellis & Co (Accountants and Business Advisers) Limited, and the audit report was signed by Robert Ellis FCA, senior statutory auditor. The audit report was unqualified.

Silverlining Marine Limited (Registered number: 08052178)

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

7. Related party disclosures

Silverlining Furniture Group Limited, a company incorporated in the United Kingdom, is the parent company of the smallest group for which accounts are prepared and of which Silverlining Marine Limited is a member. The registered office of Silverlining Furniture Group Limited is 114-120 Northgate Street, Chester, CH1 2HT.