Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Mr N Oborne 04/11/2020 Mr R E Oborne 04/11/2020 Mr R E C Oborne 05/06/2024 27/02/2008 Mr T J Oborne 27/02/2008 10 June 2025 The principal activity of the Company during the financial year was that of the distribution of aviation fuel testing equipment. 06515709 2024-09-30 06515709 bus:Director1 2024-09-30 06515709 bus:Director2 2024-09-30 06515709 bus:Director3 2024-09-30 06515709 bus:Director4 2024-09-30 06515709 2023-09-30 06515709 core:CurrentFinancialInstruments 2024-09-30 06515709 core:CurrentFinancialInstruments 2023-09-30 06515709 core:Non-currentFinancialInstruments 2024-09-30 06515709 core:Non-currentFinancialInstruments 2023-09-30 06515709 core:ShareCapital 2024-09-30 06515709 core:ShareCapital 2023-09-30 06515709 core:RetainedEarningsAccumulatedLosses 2024-09-30 06515709 core:RetainedEarningsAccumulatedLosses 2023-09-30 06515709 core:PlantMachinery 2023-09-30 06515709 core:Vehicles 2023-09-30 06515709 core:OfficeEquipment 2023-09-30 06515709 core:PlantMachinery 2024-09-30 06515709 core:Vehicles 2024-09-30 06515709 core:OfficeEquipment 2024-09-30 06515709 core:ImmediateParent core:CurrentFinancialInstruments 2024-09-30 06515709 core:ImmediateParent core:CurrentFinancialInstruments 2023-09-30 06515709 2023-10-01 2024-09-30 06515709 bus:FilletedAccounts 2023-10-01 2024-09-30 06515709 bus:SmallEntities 2023-10-01 2024-09-30 06515709 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 06515709 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 06515709 bus:Director1 2023-10-01 2024-09-30 06515709 bus:Director2 2023-10-01 2024-09-30 06515709 bus:Director3 2023-10-01 2024-09-30 06515709 bus:Director4 2023-10-01 2024-09-30 06515709 core:PlantMachinery 2023-10-01 2024-09-30 06515709 core:Vehicles 2023-10-01 2024-09-30 06515709 core:OfficeEquipment 2023-10-01 2024-09-30 06515709 2022-10-01 2023-09-30 06515709 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 06515709 (England and Wales)

A. SEARLE & COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

A. SEARLE & COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

A. SEARLE & COMPANY LIMITED

BALANCE SHEET

As at 30 September 2024
A. SEARLE & COMPANY LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 38,558 49,643
38,558 49,643
Current assets
Stocks 5 50,000 40,000
Debtors
- due within one year 6 766,035 801,545
- due after more than one year 6 218,144 261,826
Cash at bank and in hand 1,085,400 1,089,717
2,119,579 2,193,088
Creditors: amounts falling due within one year 7 ( 1,443,570) ( 1,700,957)
Net current assets 676,009 492,131
Total assets less current liabilities 714,567 541,774
Creditors: amounts falling due after more than one year 8 ( 38,052) ( 37,113)
Provision for liabilities ( 2,130) ( 4,422)
Net assets 674,385 500,239
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 673,385 499,239
Total shareholder's funds 674,385 500,239

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of A. Searle & Company Limited (registered number: 06515709) were approved and authorised for issue by the Board of Directors on 10 June 2025. They were signed on its behalf by:

Mr T J Oborne
Director
A. SEARLE & COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
A. SEARLE & COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A. Searle & Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Mulberry Court, Bourne Industrial Park Bourne Road, Crayford, DA1 4BF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Specifically, areas requiring judgement are the residual value of tangible fixed assets, the recoverability of debtors and using the going concern basis.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 10

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 October 2023 27,122 54,981 136,084 218,187
Additions 0 0 562 562
At 30 September 2024 27,122 54,981 136,646 218,749
Accumulated depreciation
At 01 October 2023 25,527 20,882 122,135 168,544
Charge for the financial year 239 8,525 2,883 11,647
At 30 September 2024 25,766 29,407 125,018 180,191
Net book value
At 30 September 2024 1,356 25,574 11,628 38,558
At 30 September 2023 1,595 34,099 13,949 49,643

5. Stocks

2024 2023
£ £
Stocks 50,000 40,000

6. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 522,950 545,282
Amounts owed by Parent undertakings 0 0
Other debtors 243,085 256,263
766,035 801,545
Debtors: amounts falling due after more than one year
Amounts owed by Parent undertakings 218,144 261,826

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 976,488 1,040,091
Taxation and social security 83,132 175,927
Other creditors 383,950 484,939
1,443,570 1,700,957

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 38,052 37,113

Loans are unsecured and repayable on demand.

9. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 3,942 3,942

10. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts due from related party 52,161 44,988

Transactions with the entity's directors

2024 2023
£ £
Amounts payable from directors (17,584) (28,238)

During the year, the company advanced £19,346 to the directors and the directors repaid £30,000 to the company.



The company has taken advantage of the exemption in FRS 102 33.1A "Related Party Disclosures" from disclosing transactions with other members of the group.