Company Registration No. 11506215 (England and Wales)
DESIGN SILVER FISH UK LTD
Unaudited accounts
for the year ended 31 August 2024
DESIGN SILVER FISH UK LTD
Unaudited accounts
Contents
DESIGN SILVER FISH UK LTD
Company Information
for the year ended 31 August 2024
Company Number
11506215 (England and Wales)
Registered Office
69 Station Road
Hampton
Greater London
TW12 2BT
United Kingdom
DESIGN SILVER FISH UK LTD
Statement of financial position
as at 31 August 2024
Tangible assets
895,733
531,343
Cash at bank and in hand
51,468
11,785
Creditors: amounts falling due within one year
(1,974)
(16,007)
Net current assets
115,022
118,790
Total assets less current liabilities
1,010,755
650,133
Creditors: amounts falling due after more than one year
(820,747)
(730,769)
Net assets/(liabilities)
190,008
(80,636)
Called up share capital
100,000
100,000
Profit and loss account
90,008
(180,636)
Shareholders' funds
190,008
(80,636)
For the year ending 31 August 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 March 2025 and were signed on its behalf by
Mrs YOUNSOOK IM
Director
Company Registration No. 11506215
DESIGN SILVER FISH UK LTD
Notes to the Accounts
for the year ended 31 August 2024
DESIGN SILVER FISH UK LTD is a private company, limited by shares, registered in England and Wales, registration number 11506215. The registered office is 69 Station Road, Hampton, Greater London, TW12 2BT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line
Fixtures & fittings
20% on reducing balance
Computer equipment
25% on reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
At the time of approving the financial statements, the director has reasonable expectation that the company as an overseas subsidiary has adequate resources to continue in operational existence for the foreseeable future. Thus the director as a overseas representative of the parent entity in South Korea continues to adopt the going concern basis of accounting in preparing the financial statements.
DESIGN SILVER FISH UK LTD
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
564,000
11,031
5,595
580,626
Additions
431,834
-
-
431,834
At 31 August 2024
995,834
11,031
5,595
1,012,460
At 1 September 2023
37,600
7,416
4,267
49,283
Charge for the year
66,389
723
332
67,444
At 31 August 2024
103,989
8,139
4,599
116,727
At 31 August 2024
891,845
2,892
996
895,733
At 31 August 2023
526,400
3,615
1,328
531,343
Amounts falling due within one year
Accrued income and prepayments
2,151
-
Other debtors
10,000
10,000
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
2,900
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
804,282
703,683
The parent entity in South Korea has funded GBP 100,000 as a shareholder's capital contribution and GBP 804,282 for the year ended 31 August 2024 for an active operation of its UK subsidiary.
DESIGN SILVER FISH UK LTD
Notes to the Accounts
for the year ended 31 August 2024
The ultimate controlling parties are as follows:
By virtue of its relevant legal entity's 100% shareholding;
DESIGN SILVERFISH CO., LTD
(Registration No. 105 - 81- 96310)
28, Jahamun-ro, 10-gil, Jongno-gu
Seoul
South Korea
and
By virtue of its director's significant influence or control;
Mrs YOUNSOOK IM
Flat 64 Marquis House
45 Beadon Road
London W6 0BT
United Kingdom.
9
Average number of employees
During the year the average number of employees was 2 (2023: 1).