REGISTERED NUMBER: 10093340 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SILICON REEF LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

T M Wallis

REGISTERED OFFICE:

New Broad Street House

35 New Broad Street

London

EC2M 1NH

REGISTERED NUMBER:

10093340 (England and Wales)

ACCOUNTANTS:

Collards

Chartered Accountants

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

FIXED ASSETS

Tangible assets

4

11,202

4,940

CURRENT ASSETS

Debtors

5

1,048,255

738,164

Cash at bank

39

52,688

1,048,294

790,852

CREDITORS

Amounts falling due within one year

6

2,244,781

1,571,439

NET CURRENT LIABILITIES

(1,196,487

)

(780,587

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,185,285

)

(775,647

)

CREDITORS

Amounts falling due after more than one year

7

(40,334

)

(105,311

)

PROVISIONS FOR LIABILITIES

-

(939

)

NET LIABILITIES

(1,225,619

)

(881,897

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(1,226,619

)

(882,897

)

(1,225,619

)

(881,897

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 September 2025 and were signed by:

T M Wallis - Director

1.	STATUTORY INFORMATION

Silicon Reef Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At 31 December 2024 the company had excess liabilities over assets totalling £1,225,619. The company is dependent upon the continued financial support of the directors and shareholders on the basis that this support is forthcoming the directors consider it appropriate for the financial statements to be prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

46,282

Additions

11,218

At 31 December 2024

57,500

DEPRECIATION

At 1 January 2024

41,342

Charge for year

4,956

At 31 December 2024

46,298

NET BOOK VALUE

At 31 December 2024

11,202

At 31 December 2023

4,940

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

438,942

234,316

Amounts owed by group undertakings

273,750

-

Other debtors

335,563

503,848

1,048,255

738,164

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

52,099

56,508

Trade creditors

65,807

32,191

Taxation and social security

399,619

430,717

Other creditors

1,727,256

1,052,023

2,244,781

1,571,439

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

40,334

105,311

8.	SECURED DEBTS

Included within other creditors is a loan of £1,430,880 (2013 - £772,177) from Chptr3 Bella Roo Unlimited a company which controls the group parent company. This loan is secured by a fixed and floating charge over the company's assets

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

2024

2023

£

£

A D Graves

Balance outstanding at start of year

99,049

99,049

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

99,049

99,049

L C Knight

Balance outstanding at start of year

102,258

102,258

Amounts advanced

13,500

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

115,758

102,258