Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Mr D L Elliott 05/08/2005 26 August 2025 no description of principal activity 05528837 2024-08-31 05528837 bus:Director1 2024-08-31 05528837 2023-08-31 05528837 core:CurrentFinancialInstruments 2024-08-31 05528837 core:CurrentFinancialInstruments 2023-08-31 05528837 core:Non-currentFinancialInstruments 2024-08-31 05528837 core:Non-currentFinancialInstruments 2023-08-31 05528837 core:ShareCapital 2024-08-31 05528837 core:ShareCapital 2023-08-31 05528837 core:RetainedEarningsAccumulatedLosses 2024-08-31 05528837 core:RetainedEarningsAccumulatedLosses 2023-08-31 05528837 core:Vehicles 2023-08-31 05528837 core:FurnitureFittings 2023-08-31 05528837 core:Vehicles 2024-08-31 05528837 core:FurnitureFittings 2024-08-31 05528837 2023-09-01 2024-08-31 05528837 bus:FilletedAccounts 2023-09-01 2024-08-31 05528837 bus:SmallEntities 2023-09-01 2024-08-31 05528837 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05528837 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05528837 bus:Director1 2023-09-01 2024-08-31 05528837 core:Vehicles 2023-09-01 2024-08-31 05528837 core:FurnitureFittings 2023-09-01 2024-08-31 05528837 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Company No: 05528837 (England and Wales)

D. ELLIOTT AND SONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

D. ELLIOTT AND SONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

D. ELLIOTT AND SONS LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
D. ELLIOTT AND SONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTOR Mr D L Elliott
REGISTERED OFFICE 1 Mulberry Close
Park Street
St. Albans
AL2 2AW
United Kingdom
COMPANY NUMBER 05528837 (England and Wales)
ACCOUNTANT Gravita Business Services II Limited
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
D. ELLIOTT AND SONS LIMITED

BALANCE SHEET

As at 31 August 2024
D. ELLIOTT AND SONS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,561 2,436
2,561 2,436
Current assets
Debtors 4 38,919 13,703
Cash at bank and in hand 9,644 0
48,563 13,703
Creditors: amounts falling due within one year 5 ( 30,465) ( 11,687)
Net current assets 18,098 2,016
Total assets less current liabilities 20,659 4,452
Creditors: amounts falling due after more than one year 6 ( 1,576) ( 3,642)
Provision for liabilities ( 640) ( 609)
Net assets 18,443 201
Capital and reserves
Called-up share capital 2 2
Profit and loss account 18,441 199
Total shareholder's funds 18,443 201

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 financial statements of D. Elliott and Sons Limited (registered number: 05528837) were approved and authorised for issue by the Director on 26 August 2025. They were signed on its behalf by:

Mr D L Elliott
Director
D. ELLIOTT AND SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
D. ELLIOTT AND SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

D. Elliott and Sons 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 1 Mulberry Close, Park Street, St. Albans, AL2 2AW, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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

Vehicles 25 % reducing balance
Fixtures and fittings 25 % 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.

Impairment of assets

Assets, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are classified as debts, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 September 2023 13,072 7,495 20,567
Additions 0 766 766
At 31 August 2024 13,072 8,261 21,333
Accumulated depreciation
At 01 September 2023 11,327 6,804 18,131
Charge for the financial year 436 205 641
At 31 August 2024 11,763 7,009 18,772
Net book value
At 31 August 2024 1,309 1,252 2,561
At 31 August 2023 1,745 691 2,436

4. Debtors

2024 2023
£ £
Trade debtors 0 381
Corporation tax 2,919 2,919
Other debtors 36,000 10,403
38,919 13,703

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 2,130 4,151
Trade creditors 6,138 1,633
Taxation and social security 20,198 4,304
Other creditors 1,999 1,599
30,465 11,687

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

2024 2023
£ £
Bank loans 1,576 3,642

7. Related party transactions

At the reporting date the company was owed Nil (2023: £4,403) by the director. Interest was charged at the HM Revenue & Customs approved rates and the loan is repayable up on demand.