Silverfin false false 31/05/2025 01/06/2024 31/05/2025 David John Whitney 01/07/2004 Jennifer Christine Whitney 13/12/2002 Victoria Anne Whitney-Lewin 13/12/2002 03 October 2025 The principal activity of the Company during the financial year was the care of persons with special needs and provision of respite care. 04617578 2025-05-31 04617578 bus:Director1 2025-05-31 04617578 bus:Director2 2025-05-31 04617578 bus:Director3 2025-05-31 04617578 2024-05-31 04617578 core:CurrentFinancialInstruments 2025-05-31 04617578 core:CurrentFinancialInstruments 2024-05-31 04617578 core:Non-currentFinancialInstruments 2025-05-31 04617578 core:Non-currentFinancialInstruments 2024-05-31 04617578 core:ShareCapital 2025-05-31 04617578 core:ShareCapital 2024-05-31 04617578 core:RetainedEarningsAccumulatedLosses 2025-05-31 04617578 core:RetainedEarningsAccumulatedLosses 2024-05-31 04617578 core:Vehicles 2024-05-31 04617578 core:FurnitureFittings 2024-05-31 04617578 core:ToolsEquipment 2024-05-31 04617578 core:Vehicles 2025-05-31 04617578 core:FurnitureFittings 2025-05-31 04617578 core:ToolsEquipment 2025-05-31 04617578 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2025-05-31 04617578 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-05-31 04617578 2023-05-31 04617578 bus:OrdinaryShareClass1 2025-05-31 04617578 bus:OrdinaryShareClass2 2025-05-31 04617578 2024-06-01 2025-05-31 04617578 bus:FilletedAccounts 2024-06-01 2025-05-31 04617578 bus:SmallEntities 2024-06-01 2025-05-31 04617578 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 04617578 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 04617578 bus:Director1 2024-06-01 2025-05-31 04617578 bus:Director2 2024-06-01 2025-05-31 04617578 bus:Director3 2024-06-01 2025-05-31 04617578 core:Vehicles 2024-06-01 2025-05-31 04617578 core:FurnitureFittings 2024-06-01 2025-05-31 04617578 2023-06-01 2024-05-31 04617578 core:ToolsEquipment 2024-06-01 2025-05-31 04617578 core:CurrentFinancialInstruments 2024-06-01 2025-05-31 04617578 core:Non-currentFinancialInstruments 2024-06-01 2025-05-31 04617578 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 04617578 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 04617578 bus:OrdinaryShareClass2 2024-06-01 2025-05-31 04617578 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04617578 (England and Wales)

# SBSC LTD

### Unaudited Financial Statements
For the financial year ended 31 May 2025
Pages for filing with the registrar

SBSC LTD

## Unaudited Financial Statements

For the financial year ended 31 May 2025

Contents

SBSC LTD

## STATEMENT OF FINANCIAL POSITION

As at 31 May 2025
SBSC LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 57,682 |  | 57,619
|  | 57,682 |  | 57,619
Current assets |  |  |  |
Stocks | 4 | 2,500 |  | 2,500
Debtors | 5 | 560,530 |  | 432,190
Cash at bank and in hand |  | 62,888 |  | 26,319
|  | 625,918 |  | 461,009
Creditors: amounts falling due within one year | 6 | ( 151,613) |  | ( 119,333)
Net current assets |  | 474,305 |  | 341,676
Total assets less current liabilities |  | 531,987 |  | 399,295
Creditors: amounts falling due after more than one year | 7 | ( 120) |  | ( 10,621)
Provision for liabilities | 8 | ( 12,916) |  | ( 13,070)
Net assets |  | 518,951 |  | 375,604
Capital and reserves |  |  |  |
Called-up share capital | 9 | 4 |  | 4
Profit and loss account |  | 518,947 |  | 375,600
Total shareholders' funds |  | 518,951 |  | 375,604

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of SBSC Ltd (registered number: 04617578) were approved and authorised for issue by the Board of Directors on 03 October 2025. They were signed on its behalf by:

Victoria Anne Whitney-Lewin Director |

SBSC LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
SBSC LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025

##### 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

SBSC Ltd (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 Maidencombe Manor Claddon Lane, Maidencombe, Torquay, TQ1 4TB, 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

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred 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 Statement of Financial Position 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 deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles | 25 % reducing balance
Fixtures and fittings | 10 % reducing balance
Tools and equipment | not depreciated

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.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### 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 Statement of Financial Position 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.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 70 |  | 79

#### 3. Tangible assets

| Vehicles |  | Fixtures and fittings |  | Tools and equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 June 2024 | 21,700 |  | 99,792 |  | 1,925 |  | 123,417
Additions | 8,400 |  | 0 |  | 0 |  | 8,400
Disposals | ( 7,300) |  | 0 |  | 0 |  | ( 7,300)
At 31 May 2025 | 22,800 |  | 99,792 |  | 1,925 |  | 124,517
Accumulated depreciation |  |  |  |  |  |  |
At 01 June 2024 | 14,457 |  | 51,341 |  | 0 |  | 65,798
Charge for the financial year | 1,884 |  | 4,845 |  | 0 |  | 6,729
Disposals | ( 5,692) |  | 0 |  | 0 |  | ( 5,692)
At 31 May 2025 | 10,649 |  | 56,186 |  | 0 |  | 66,835
Net book value |  |  |  |  |  |  |
At 31 May 2025 | 12,151 |  | 43,606 |  | 1,925 |  | 57,682
At 31 May 2024 | 7,243 |  | 48,451 |  | 1,925 |  | 57,619

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 2,500 |  | 2,500

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by connected companies | 428,408 |  | 245,130
Amounts owed by directors | 0 |  | 61,384
Other debtors | 132,122 |  | 125,676
| 560,530 |  | 432,190

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,502 |  | 10,244
Trade creditors | 0 |  | 998
Amounts owed to directors | 1,049 |  | 0
Accruals | 6,394 |  | 6,033
Taxation and social security | 80,017 |  | 42,364
Other creditors | 53,651 |  | 59,694
| 151,613 |  | 119,333

There are no amounts included above in respect of which any security has been given by the small entity.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 120 |  | 10,621

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 13,070) |  | ( 15,143)
Credited to the Statement of Income and Retained Earnings | 154 |  | 2,073
At the end of financial year | ( 12,916) |  | ( 13,070)

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
202 Ordinary A shares of £ 0.01 each | 2 |  | 2
198 Ordinary B shares of £ 0.01 each | 2 |  | 2
| 4 |  | 4

#### 10. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amounts owed by / (owed to) Mrs J C and Mr D J Whitney | (334) |  | 33,637
Amounts owed by / (owed to) Mrs V A Whitney-Lewin | (715) |  | 27,747

The above balances are represents amounts owed by the company directors. Interest has been charged on overdrawn balances at 2.25% (2024: 2.25%) as per HM Revenue and Customs official rate. There is no fixed date of repayment.
Dividends paid to the directors during the year totalled £nil (2024: £32,000).
During the year the company paid rent of £30,000 (2024: £30,000) to directors Mr D J and Mrs J C Whitney in respect of rent of the property. This was charged at market value.