2024-02-012025-01-312025-01-31false11750960SILVER PETALS 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SILVER PETALS LTD

Registered Number
11750960
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2025

SILVER PETALS LTD
Company Information
for the year from 1 February 2024 to 31 January 2025

Director

Javed Mohammed Idris Khan

Registered Address

Unit C J6 Middlesex Business Centre
Bridge Road
Southall
UB2 4AB

Registered Number

11750960 (England and Wales)
SILVER PETALS LTD
Statement of Financial Position
31 January 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3324383
324383
Current assets
Stocks4124,955129,205
Debtors559,2709,939
Cash at bank and on hand14,4464,526
198,671143,670
Creditors amounts falling due within one year6(180,208)(117,631)
Net current assets (liabilities)18,46326,039
Total assets less current liabilities18,78726,422
Creditors amounts falling due after one year7(11,398)(19,696)
Net assets7,3896,726
Capital and reserves
Called up share capital200200
Profit and loss account7,1896,526
Shareholders' funds7,3896,726
The financial statements were approved and authorised for issue by the Director on 9 June 2025, and are signed on its behalf by:
Javed Mohammed Idris Khan
Director
Registered Company No. 11750960
SILVER PETALS LTD
Notes to the Financial Statements
for the year ended 31 January 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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 sale of goods and from the rendering of services.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Office Equipment-3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20252024
Average number of employees during the year33
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 February 2465414,79315,447
At 31 January 2565414,79315,447
Depreciation and impairment
At 01 February 2441514,64915,064
Charge for year59-59
At 31 January 2547414,64915,123
Net book value
At 31 January 25180144324
At 31 January 24239144383
4.Stocks

2025

2024

££
Other stocks124,955129,205
Total124,955129,205
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables58,8809,500
Other debtors-219
Prepayments and accrued income390220
Total59,2709,939
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables53,24225,163
Taxation and social security34,78339,516
Other creditors92,18352,952
Total180,208117,631
7.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts11,39819,696
Total11,39819,696