SILVERMOOR LIMITED


Directors	L C Foggin
	J A Robson
	R J M Thompson


Company Secretary	F M Thompson


Registered Address	Milburn House Hexham Business Park
	Burn Lane
	Hexham
	NE46 3RU


Registered Number	05473714 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	15	-
Fixtures and fittings	-	4
Vehicles	25	-

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Finance lease and HP contracts are secured against the assets to which they relate. HSBC Bank PLC hold a fixed and floating charge over the undertaking and all property and assets present and future.

Trade and other creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Finance lease and HP contracts are secured against the assets to which they relate.

HSBC Bank PLC hold a fixed and floating charge over the undertaking and all property and assets present and future.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. 

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	18		19

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	824,415	2,095,239	96,866	44,009	3,060,529
Additions	11,001	31,247	-	-	42,248
Revaluations	306,005	-	-	-	306,005
Disposals	-	(57,314)	-	-	(57,314)
At 31 March 25	1,141,421	2,069,172	96,866	44,009	3,351,468
Depreciation and impairment
At 01 April 24	60,959	808,910	44,543	13,131	927,543
Charge for year	1,582	154,922	13,080	10,553	180,137
Revaluation surplus	28,228	-	-	-	28,228
On disposals	-	(16,698)	-	-	(16,698)
At 31 March 25	90,769	947,134	57,623	23,684	1,119,210
Net book value
At 31 March 25	1,050,652	1,122,038	39,243	20,325	2,232,258
At 31 March 24	763,456	1,286,329	52,323	30,878	2,132,986


	The 2025 property valuation was made by North East Commercial Property & Business Agents.

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	196,246	274,825
Other debtors	16,793	15,430
Prepayments and accrued income	3,950	3,949
Total	216,989	294,204

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	166,046	296,938
Bank borrowings and overdrafts	752,381	610,600
Taxation and social security	110,753	93,249
Finance lease and HP contracts	102,261	145,344
Other creditors	750,347	646,669
Accrued liabilities and deferred income	3,245	24,000
Total	1,885,033	1,816,800

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	973,312	1,215,707
Other creditors	44,555	162,754
Total	1,017,867	1,378,461


	Finance lease and HP contracts are included in other creditors £44,555 (2024 - £162,754) and are secured against the assets to which they relate. HSBC Bank PLC hold a fixed and floating charge over the undertaking and all property and assets present and future.

7.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	99,600	139,750
Total	99,600	139,750

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		2,232,258		2,132,986
			2,232,258		2,132,986
Current assets
Stocks		288,975		304,346
Debtors	4	216,989		294,204
Cash at bank and on hand		353,253		506,626
		859,217		1,105,176
Creditors amounts falling due within one year	5	(1,885,033)		(1,816,800)
Net current assets (liabilities)			(1,025,816)		(711,624)
Total assets less current liabilities			1,206,442		1,421,362
Creditors amounts falling due after one year	6		(1,017,867)		(1,378,461)
Provisions for liabilities	7		(99,600)		(139,750)
Net assets			88,975		(96,849)
Capital and reserves
Called up share capital			100		100
Revaluation reserve			277,777		-
Profit and loss account			(188,902)		(96,949)
Shareholders' funds			88,975		(96,849)