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Registration number: 05539137

Silverspoon Media Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Silverspoon Media Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Silverspoon Media Ltd

(Registration number: 05539137)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

53,659

69,069

Current assets

 

Debtors

5

51,015

10,128

Cash at bank and in hand

 

242,228

257,901

 

293,243

268,029

Creditors: Amounts falling due within one year

6

(42,910)

(25,010)

Net current assets

 

250,333

243,019

Total assets less current liabilities

 

303,992

312,088

Creditors: Amounts falling due after more than one year

6

(53,843)

(62,298)

Net assets

 

250,149

249,790

Capital and reserves

 

Called up share capital

9

300

300

Retained earnings

249,849

249,490

Shareholders' funds

 

250,149

249,790

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 April 2025
 

.........................................
Mr Marcus Leon Soon
Director

 

Silverspoon Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH
United Kingdom

These financial statements were authorised for issue by the director on 17 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Silverspoon Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicle

25% Straight Line

Office equipment

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Silverspoon Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

75,172

9,969

92,410

177,551

Additions

-

11,001

-

11,001

At 31 August 2024

75,172

20,970

92,410

188,552

Depreciation

At 1 September 2023

75,172

2,678

30,632

108,482

Charge for the year

-

3,309

23,102

26,411

At 31 August 2024

75,172

5,987

53,734

134,893

Carrying amount

At 31 August 2024

-

14,983

38,676

53,659

At 31 August 2023

-

7,291

61,778

69,069

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchse contracts - Motor Vehicle £32,648. Depreciation charge for the year in respect of leased assets - £15,070.

 

Silverspoon Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

3,528

10,128

Other debtors

47,487

-

 

51,015

10,128

 

Silverspoon Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

8,456

8,456

Trade creditors

 

756

-

Taxation and social security

 

32,940

15,517

Other creditors

 

758

1,037

 

42,910

25,010

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

53,843

62,298

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

22,591

26,855

Other borrowings

31,252

35,443

53,843

62,298

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,263

4,263

Other borrowings

4,193

4,193

8,456

8,456

8

Related party transactions

During the year the company made the following related party transactions:

Director
At the balance sheet date, the director owed company £47,487 (2023 - the company owed its director £279). The loan is interest free, unsecured and repayable on demand.

 

Silverspoon Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A Shares of £1 each

100

100

100

100

Ordinary B Shares of £1 each

100

100

100

100

 

300

300

300

300