Silver and Green of Lakeland Limited


Directors	Miss R T Hannaford
	Mr D R H Prentice
	Mr R A H Prentice
	Mrs S J Prentice


Company Secretary	Mrs S J Prentice


Registered Address	2 Hobson Court
	Penrith 40 Business Park
	Penrith
	CA11 9GQ


Registered Number	05751036 (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 and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

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 and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	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 (%)
	Plant and machinery	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 Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

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

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	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 the sale. The impairment loss is recognised immediately in the Income Statement

	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.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	12		12

3.	Tangible fixed assets

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 April 24	339,635	339,635
Additions	3,020	3,020
At 31 March 25	342,655	342,655
Depreciation and impairment
At 01 April 24	219,824	219,824
Charge for year	30,533	30,533
At 31 March 25	250,357	250,357
Net book value
At 31 March 25	92,298	92,298
At 31 March 24	119,811	119,811

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	161,336	161,867
Other debtors	7,314	18,348
Total	168,650	180,215


	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.

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	204,461	98,993
Bank borrowings and overdrafts	10,000	27,890
Taxation and social security	54,288	39,077
Finance lease and HP contracts	5,730	40,569
Other creditors	79,156	100,297
Accrued liabilities and deferred income	3,850	3,026
Total	357,485	309,852


	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. Hire purchase contracts amounting to £5,730 (2024 - £40,569) are secured against the assets to which they relate.

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.

Hire purchase contracts amounting to £5,730 (2024 - £40,569) are secured against the assets to which they relate.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,667	11,667
Other creditors	-	5,530
Total	1,667	17,197


	Net obligations under finance leases and hire purchase contracts amounting to £Nil (2024 - £5,530) are secured against the assets to which they relate.

7.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made. The deferred tax provision is in respect of capital allowances.

	2025	2024
	£	£
Net deferred tax liability (asset)	22,000	29,900
Total	22,000	29,900

8.	Directors advances, credits and guarantees
	As of 1 April 2024, a director owed the company £14,701 which was repaid during the year.

9.	Related party transactions
	During the year the company continued to borrow funds from a director. As of the balance sheet date, the company owed £59,925 (2024 - £53,047) to the director. This loan is interest free, unsecured and repayable on demand. During the year the company continued to borrow funds from a second director. As of the balance sheet date, the company owed £15,478 (2024 - £42,191) to the director. This loan is interest free, unsecured and repayable on demand. During the year the company continued to borrow funds from a third director. As of the balance sheet date, the company owed £2,710 (2024 - £3,979) to the director. This loan is interest free, unsecured and repayable on demand. The company was charged rent of £24,000 (2024 - £24,000) by a director.

Related party transactions

During the year the company continued to borrow funds from a director.  As of the balance sheet date, the company owed £59,925 (2024 - £53,047) to the director.  This loan is interest free, unsecured and repayable on demand.

During the year the company continued to borrow funds from a second director.  As of the balance sheet date, the company owed £15,478 (2024 - £42,191) to the director.  This loan is interest free, unsecured and repayable on demand.

During the year the company continued to borrow funds from a third director.  As of the balance sheet date, the company owed £2,710 (2024 - £3,979) to the director.  This loan is interest free, unsecured and repayable on demand.

The company was charged rent of £24,000 (2024 - £24,000) by a director.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		92,298		119,811
			92,298		119,811
Current assets
Stocks		284,291		188,247
Debtors	4	168,650		180,215
Cash at bank and on hand		22,944		-
		475,885		368,462
Creditors amounts falling due within one year	5	(357,485)		(309,852)
Net current assets (liabilities)			118,400		58,610
Total assets less current liabilities			210,698		178,421
Creditors amounts falling due after one year	6		(1,667)		(17,197)
Provisions for liabilities	7		(22,000)		(29,900)
Net assets			187,031		131,324
Capital and reserves
Called up share capital			100		100
Profit and loss account			186,931		131,224
Shareholders' funds			187,031		131,324