REGISTERED NUMBER: 04242422 (England and Wales)

SILKTIDE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr O C Emberton

REGISTERED OFFICE:

55 Colmore Row

Birmingham

B3 2AA

REGISTERED NUMBER:

04242422 (England and Wales)

ACCOUNTANTS:

Duncan and Toplis Limited

Pinnacle House

1 Pinnacle Way,

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Intangible assets

4

10,678

13,848

Tangible assets

5

27,749

32,121

38,427

45,969

CURRENT ASSETS

Debtors

6

997,233

628,505

Cash at bank

491,125

388,427

1,488,358

1,016,932

CREDITORS

Amounts falling due within one year

7

408,461

445,270

NET CURRENT ASSETS

1,079,897

571,662

TOTAL ASSETS LESS CURRENT LIABILITIES

1,118,324

617,631

CREDITORS

Amounts falling due after more than one year

8

-

69,496

NET ASSETS

1,118,324

548,135

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

1,118,224

548,035

SHAREHOLDERS' FUNDS

1,118,324

548,135

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 25 September 2025 and were signed by:

Mr O C Emberton - Director

1.	STATUTORY INFORMATION

Silktide Limited 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.

Turnover

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

Intangible fixed assets

The amortisation of costs relating to patents, website costs and computer software are written off over 10 years.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Website

Computer

licences

costs

software

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

3,369

9,345

22,350

35,064

AMORTISATION

At 1 January 2024

3,369

5,607

12,240

21,216

Amortisation for year

-

935

2,235

3,170

At 31 December 2024

3,369

6,542

14,475

24,386

NET BOOK VALUE

At 31 December 2024

-

2,803

7,875

10,678

At 31 December 2023

-

3,738

10,110

13,848

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

83,526

174,668

258,194

Additions

421

6,191

6,612

At 31 December 2024

83,947

180,859

264,806

DEPRECIATION

At 1 January 2024

56,158

169,915

226,073

Charge for year

4,168

6,816

10,984

At 31 December 2024

60,326

176,731

237,057

NET BOOK VALUE

At 31 December 2024

23,621

4,128

27,749

At 31 December 2023

27,368

4,753

32,121

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

595,453

199,402

Other debtors

100,856

138,057

Directors' loan accounts

273,925

266,247

Deferred tax asset

16,121

14,615

Prepayments

10,878

10,184

997,233

628,505

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

69,189

108,710

Trade creditors

2,399

23,508

Tax

106,826

30,048

Social security and other taxes

41,209

83,282

VAT

100,315

61,732

Other creditors

84,883

84,959

Accrued expenses

3,640

53,031

408,461

445,270

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

-

69,496

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 January 2024

548,035

Profit for the year

570,189

At 31 December 2024

1,118,224

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.12.24

31.12.23

£

£

Mr O C Emberton

Balance outstanding at start of year

266,247

262,928

Amounts advanced

7,678

3,319

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

273,925

266,247

Interest was charged on the director's loan at a rate of 2.25% per annum.