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REGISTERED NUMBER: 07719890










Silah Garages Limited

Unaudited Financial Statements

for the Year Ended 28 July 2024






Silah Garages Limited (Registered number: 07719890)






Contents of the Financial Statements
for the Year Ended 28 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Silah Garages Limited

Company Information
for the Year Ended 28 July 2024







DIRECTOR: Mr Zeeshan Gull





REGISTERED OFFICE: 31 Sackville Street
Manchester
England
M1 3LZ





REGISTERED NUMBER: 07719890






Silah Garages Limited (Registered number: 07719890)

Balance Sheet
28 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 55,741 56,212
55,741 56,212

CURRENT ASSETS
Stocks 140,000 200,000
Debtors 7 77,641 3,638
Cash at bank and in hand 66,735 139,338
284,376 342,976
CREDITORS
Amounts falling due within one year 8 (310,546 ) (376,689 )
NET CURRENT LIABILITIES (26,170 ) (33,713 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,571

22,499

CREDITORS
Amounts falling due after more than one year 9 (8,061 ) (18,312 )
NET ASSETS 21,510 4,187

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 21,410 4,087
SHAREHOLDERS' FUNDS 21,510 4,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Silah Garages Limited (Registered number: 07719890)

Balance Sheet - continued
28 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2025 and were signed by:





Mr Zeeshan Gull - Director


Silah Garages Limited (Registered number: 07719890)

Notes to the Financial Statements
for the Year Ended 28 July 2024

1. GENERAL INFORMATION

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

The address of its registered office is:
31 Sackville Street
Manchester
M1 3LZ

2. 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).

3. 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.

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.

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
Furniture and fittings 15% reducing balance method

Silah Garages Limited (Registered number: 07719890)

Notes to the Financial Statements - continued
for the Year Ended 28 July 2024




GOODWILL
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

AMORTISATION
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class Amortisation method and rate
Goodwill 10% straight line basis

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.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.






Silah Garages Limited (Registered number: 07719890)

Notes to the Financial Statements - continued
for the Year Ended 28 July 2024


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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 29 July 2023
and 28 July 2024 50,000
AMORTISATION
At 29 July 2023
and 28 July 2024 50,000
NET BOOK VALUE
At 28 July 2024 -
At 28 July 2023 -

Silah Garages Limited (Registered number: 07719890)

Notes to the Financial Statements - continued
for the Year Ended 28 July 2024

6. TANGIBLE FIXED ASSETS
Furniture,fittings
Land and and
buildings equipment Totals
£    £    £   
COST
At 29 July 2023
and 28 July 2024 29,672 36,736 66,408
DEPRECIATION
At 29 July 2023 - 10,196 10,196
Charge for year - 471 471
At 28 July 2024 - 10,667 10,667
NET BOOK VALUE
At 28 July 2024 29,672 26,069 55,741
At 28 July 2023 29,672 26,540 56,212

Included within the net book value of land and buildings above is £29,672 (2023 - £29,672) in respect of freehold land and buildings.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 77,641 3,638

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans and Borrowing 10,698 10,016
Trade creditors 155,143 177,998
Taxation and social security 120,051 175,046
Other creditors 24,654 13,629
310,546 376,689

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Loans and Borrowings 8,061 18,312

Silah Garages Limited (Registered number: 07719890)

Notes to the Financial Statements - continued
for the Year Ended 28 July 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. GOING CONCERN

The Company's financial statements have been prepared on a going concern basis, assuming its ability to continue operations and meet its obligations in the foreseeable future, despite the fact that its balance sheet has reflected negative equity in both the current and previous years. Management has diligently evaluated the reasons behind the negative equity and will implement a comprehensive strategy to strengthen the Company's financial position, restore positive equity, and sustain its operations.