Silverdisc Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02798073

SILVERDISC LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

SILVERDISC LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6	50,917	70,260
Investments	7	–	12,282
		--------	--------
		50,917	82,542

CURRENT ASSETS

Debtors	8	105,440	40,201
Cash at bank and in hand		676	99,449
		---------	---------
		106,116	139,650

CREDITORS: amounts falling due within one year	9	45,028		57,966
		---------		---------
NET CURRENT ASSETS			61,088		81,684
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			112,005		164,226

CREDITORS: amounts falling due after more than one year	10	71,410	92,303
		---------	---------
NET ASSETS		40,595	71,923
		---------	---------

CAPITAL AND RESERVES

Called up share capital fully paid	18	18
Capital redemption reserve	9	9
Other reserves	33,328	33,328
Profit and loss account	7,240	38,568
	--------	--------
SHAREHOLDERS FUNDS	40,595	71,923
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SILVERDISC LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mr M L Rigby-White
Director

Company registration number: 02798073

SILVERDISC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Unit 1 Swallow Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6XX.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents and licences	-	Useful life of nil years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	33% straight line
Motor vehicles	-	25% reducing balance
IT equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2024: 3 ).

5. INTANGIBLE ASSETS

	Patents and Licences
	£
Cost
At 1 April 2024 and 31 March 2025	48,000
	--------
Amortisation
At 1 April 2024 and 31 March 2025	48,000
	--------
Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	–
	--------

6. TANGIBLE ASSETS

	Fixtures and fittings	Motor vehicles	IT equipment	Total
	£	£	£	£
Cost
At 1 April 2024	20,063	67,890	42,895	130,848
Disposals	( 20,063)	–	( 42,895)	( 62,958)
	--------	--------	--------	---------
At 31 March 2025	–	67,890	–	67,890
	--------	--------	--------	---------
Depreciation
At 1 April 2024	20,063	–	40,525	60,588
Charge for the year	–	16,973	2,369	19,342
Disposals	( 20,063)	–	( 42,894)	( 62,957)
	--------	--------	--------	---------
At 31 March 2025	–	16,973	–	16,973
	--------	--------	--------	---------
Carrying amount
At 31 March 2025	–	50,917	–	50,917
	--------	--------	--------	---------
At 31 March 2024	–	67,890	2,370	70,260
	--------	--------	--------	---------

7. INVESTMENTS

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	47,282
	--------
Impairment
At 1 April 2024	35,000
Impairment losses	12,282
	--------
At 31 March 2025	47,282
	--------

Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	12,282
	--------

8. DEBTORS

	2025	2024
	£	£
Trade debtors	3,978	35,209
Amounts owed by group undertakings and undertakings in which the company has a participating interest	98,014	2,410
Other debtors	3,448	2,582
	---------	--------
	105,440	40,201
	---------	--------

9. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	7,476	5,556
Trade creditors	2,327	10,509
Corporation tax	3,225	18,781
Social security and other taxes	1,705	697
Other creditors	30,295	22,423
	--------	--------
	45,028	57,966
	--------	--------

Included within other creditors are amounts totalling £12,743 (2024 - £12,508) relating to hire purchase agreements which are secured by the company.

10. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	31,771	39,921
Other creditors	39,639	52,382
	--------	--------
	71,410	92,303
	--------	--------

Included within other creditors are amounts totalling £39,639 (2024 - £52,382) relating to hire purchase agreements which are secured by the company.

11.

12. RELATED PARTY TRANSACTIONS

During the year the company was charged management fees by associated companies totalling £46,057 (2024 - £155,617). At the year end the company was owed £98,014 (2024 - £2,410) by associated companies in relation to loans. The company was also owed £1,485 (2024 - £nil) by a company in which the Director has an interest.