Registration number: 07662019

Silvercrest Energy Group Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Silvercrest Energy Group Ltd

Company Information

Director

Mr Danny Bovill

Registered office

Silver Rose Unit 21 East Lodge Village East Lodge Lane Enfield England EN2 8AS

Accountants

Paul Winston Limited Chartered AccountantsSilver Rose Unit 21 East Lodge Village East Lodge Lane Enfield EN2 8AS

Silvercrest Energy Group Ltd

(Registration number: 07662019)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
fixed assets
tangible assets	4	106,104	128,590
Current assets
stocks	5	150,000	544,198
Debtors	6	1,396,764	1,543,477
Cash at bank and in hand		88,950	307,769
		1,635,714	2,395,444
Creditors: Amounts falling due within one year	7	(204,069)	(660,922)
Net current assets		1,431,645	1,734,522
Total assets less current liabilities		1,537,749	1,863,112
Creditors: Amounts falling due after more than one year	7	(1,450,000)	(1,750,000)
Net assets		87,749	113,112
capital and reserves
Called up share capital	8	10,000	10,000
Profit and loss account		77,749	103,112
Shareholders' funds		87,749	113,112

For the financial year ending 31 December 2024 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 December 2025
 

......................................... Mr Danny Bovill Director

Silvercrest Energy Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Silver Rose Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS
England

These financial statements were authorised for issue by the director on 24 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% net book value
Fixtures and fittings	20% net book value

Silvercrest Energy Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Plant and machinery

20% net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Silvercrest Energy Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 16).

Silvercrest Energy Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	23,319	403,438	426,757
Additions	7,700	4,250	11,950
At 31 December 2024	31,019	407,688	438,707
Depreciation
At 1 January 2024	16,495	281,672	298,167
Charge for the year	2,928	31,508	34,436
At 31 December 2024	19,423	313,180	332,603
Carrying amount
At 31 December 2024	11,596	94,508	106,104
At 31 December 2023	6,824	121,766	128,590

5

Stocks

	2024 £	2023 £
Other inventories	150,000	544,198

6

Debtors

Current	2024 £	2023 £
Trade debtors	48,054	1,217,534
Other debtors	1,348,710	325,943
	1,396,764	1,543,477

Silvercrest Energy Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Bank loans and overdrafts	9	94,503	553,042
trade creditors		74,151	31,734
Taxation and social security		34,587	12,979
Other creditors		828	63,167
		204,069	660,922
Due after one year
Loans and borrowings	9	1,450,000	1,750,000

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary B of £1 each	2,500	2,500	2,500	2,500
Ordinary M of £1 each	2,500	2,500	2,500	2,500
Ordinary C of £1 each	2,500	2,500	2,500	2,500
Ordinary R of £1 each	2,500	2,500	2,500	2,500
	10,000	10,000	10,000	10,000

Silvercrest Energy Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Other borrowings	1,450,000	1,750,000

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	95,346	146,617
Bank overdrafts	157	-
Other borrowings	(1,000)	406,425
	94,503	553,042