Company registration number 12371571 (England and Wales)
SILVER STREET ENGINEERING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
SILVER STREET ENGINEERING LIMITED
COMPANY INFORMATION
Directors
Mr J M Taylor
Mrs L J Battye
Company number
12371571
Registered office
10 Shaw Park
Silver Street
Huddersfield
HD5 9BS
Auditor
Simpson Wood Limited
Bank Chambers
Market Street
Huddersfield
HD1 2EW
Bankers
Virgin Money
94-96 Briggate
Leeds
LS1 9NP
Solicitors
Schofield Sweeney
30 Market Street
Huddersfield
HD1 2HG
SILVER STREET ENGINEERING LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 33
SILVER STREET ENGINEERING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

The directors present the strategic report for the year ended 30 June 2025.

Principal activity and business review

The principal activity of the company during the year was that of screening equipment manufacturer to the Waste Water Treatment Industry.

With AMP period commencing April 2025, project work has continued in line with budgeted expectations. Profit for the year and cash generation are consistent with expectations.

Principal risks and uncertainties

Competition in the market is an ongoing threat to the business, both in terms of order volumes and pricing pressures. However, we aim to provide a high-quality UK manufactured product, backed up with high-quality service, to differentiate from the competition.

The business has:

- Continued to implement systems to improve efficiencies;

- Evolved to have the ability to respond when required;

- Worked closely with our supply chain and customers to be proactive in all our aspects of work.

As an upshot the business has continued to operate and develop effectively, gaining the results in these accounts.

Financial risk management objectives and policies

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations. Due to the nature of the financial instruments used by the company there is no material exposure to price risk.

The company's approach to managing other risks applicable to the financial instruments concerned is shown below. In respect of bank balances the liquidity risk is managed by maintaining a balance between working capital and deposits. The company makes use of money market facilities for available funds.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Research and development

The company continues to take advantage of technical advances as they arise and strives to evolve exciting and develop new products as an ongoing policy.

Financial key performance indicators

The main KPIs monitored by the directors are order intake, turnover, gross margin and cash generation.

Outlook

In 2025/26 the order intake, turnover, gross margin and cash generation for the current year is expected to be consistent compared to 2024/25. This prediction is mainly due to the commencement of AMP8 and the growing number of project orders.

With sustained high quality, focused and supportive working methods we have a great opportunity to continue to be a successful company.

SILVER STREET ENGINEERING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

This report was approved by the board of directors and signed on behalf of the board by:

Mr J M Taylor
Director
12 January 2026
SILVER STREET ENGINEERING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

The directors present their annual report and financial statements for the year ended 30 June 2025.

Principal activities

The principal activity of the company and group continued to be that of a ultimate parent company to the group, managing the operations of its principal subsidiary undertaking and group members.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £300,412. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J M Taylor
Mrs L J Battye
Disclosure of information in strategic report

In accordance with Section 414C(11). Companies Act 2006, the following information required to be contained in this report set out in the companies Strategic Report: principal activities, business review, future development, financial risks and research and development.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Mr J M Taylor
Director
12 January 2026
SILVER STREET ENGINEERING LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SILVER STREET ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SILVER STREET ENGINEERING LIMITED
- 5 -
Opinion

We have audited the financial statements of Silver Street Engineering Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 30 June 2025 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

SILVER STREET ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SILVER STREET ENGINEERING LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

SILVER STREET ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SILVER STREET ENGINEERING LIMITED
- 7 -
Extent to which the audit was considered capable of detecting irregularies including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, taxation legislation, data protection, anti-bribery, emplo yment and heath and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations and.

- performed analytical procedures to identify any unusual or unexpected relationships.

To address the risk of fraud through management bias and override of controls, we:

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias and;

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance and;

- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the parent company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

SILVER STREET ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SILVER STREET ENGINEERING LIMITED
- 8 -
Sukhbinder Khangura BA FCA (Senior Statutory Auditor)
For and on behalf of Simpson Wood Limited, Statutory Auditor
Chartered Accountants
Bank Chambers
Market Street
Huddersfield
HD1 2EW
12 January 2026
SILVER STREET ENGINEERING LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
11,252,798
11,485,233
Cost of sales
(5,692,076)
(6,425,265)
Gross profit
5,560,722
5,059,968
Administrative expenses
(2,448,544)
(2,652,143)
Other operating income
15,883
9,953
Operating profit
4
3,128,061
2,417,778
Interest receivable and similar income
7
43,374
12,328
Interest payable and similar expenses
8
(18,639)
(69,674)
Profit before taxation
3,152,796
2,360,432
Tax on profit
9
(804,378)
(606,512)
Profit for the financial year
24
2,348,418
1,753,920
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
SILVER STREET ENGINEERING LIMITED
GROUP BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
1,839,812
1,905,924
Investments
13
500,000
-
0
2,339,812
1,905,924
Current assets
Stocks
15
842,867
858,398
Debtors
16
2,054,606
1,914,572
Cash at bank and in hand
3,485,559
2,591,858
6,383,032
5,364,828
Creditors: amounts falling due within one year
17
(2,242,973)
(1,893,795)
Net current assets
4,140,059
3,471,033
Total assets less current liabilities
6,479,871
5,376,957
Creditors: amounts falling due after more than one year
18
-
(947,605)
Provisions for liabilities
Deferred tax liability
20
85,307
82,795
(85,307)
(82,795)
Net assets
6,394,564
4,346,557
Capital and reserves
Called up share capital
23
4
4
Profit and loss reserves
24
6,394,560
4,346,553
Total equity
6,394,564
4,346,557
The financial statements were approved by the board of directors and authorised for issue on 12 January 2026 and are signed on its behalf by:
12 January 2026
Mr J M Taylor
Director
Company registration number 12371571 (England and Wales)
SILVER STREET ENGINEERING LIMITED
COMPANY BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
13
7,860,000
7,860,000
Current assets
Debtors
16
4
4
Cash at bank and in hand
10,000
33,737
10,004
33,741
Creditors: amounts falling due within one year
17
(7,870,000)
(6,946,132)
Net current liabilities
(7,859,996)
(6,912,391)
Total assets less current liabilities
4
947,609
Creditors: amounts falling due after more than one year
18
-
(947,605)
Net assets
4
4
Capital and reserves
Called up share capital
23
4
4

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £300,412 (2024 - £274,864 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 12 January 2026 and are signed on its behalf by:
12 January 2026
Mr J M Taylor
Director
Company registration number 12371571 (England and Wales)
SILVER STREET ENGINEERING LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2023
4
2,867,496
2,867,500
Year ended 30 June 2024:
Profit and total comprehensive income
-
1,753,920
1,753,920
Dividends
10
-
(274,863)
(274,863)
Balance at 30 June 2024
4
4,346,553
4,346,557
Year ended 30 June 2025:
Profit and total comprehensive income
-
2,348,418
2,348,418
Dividends
10
-
(300,411)
(300,411)
Balance at 30 June 2025
4
6,394,560
6,394,564
SILVER STREET ENGINEERING LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2023
4
-
0
4
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
274,864
274,864
Dividends
10
-
(274,864)
(274,864)
Balance at 30 June 2024
4
-
0
4
Year ended 30 June 2025:
Profit and total comprehensive income
-
300,412
300,412
Dividends
10
-
(300,412)
(300,412)
Balance at 30 June 2025
4
-
0
4
SILVER STREET ENGINEERING LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
3,514,301
1,931,265
Interest paid
(18,639)
(69,674)
Income taxes paid
(742,717)
(312,072)
Net cash inflow from operating activities
2,752,945
1,549,519
Investing activities
Purchase of tangible fixed assets
(105,176)
(109,772)
Proceeds from disposal of tangible fixed assets
4,000
20,000
Proceeds from disposal of investments
(500,000)
-
Interest received
43,374
12,328
Net cash used in investing activities
(557,802)
(77,444)
Financing activities
Repayment of bank loans
(1,001,031)
(565,079)
Dividends paid to equity shareholders
(300,411)
(274,864)
Net cash used in financing activities
(1,301,442)
(839,943)
Net increase in cash and cash equivalents
893,701
632,132
Cash and cash equivalents at beginning of year
2,591,858
1,959,726
Cash and cash equivalents at end of year
3,485,559
2,591,858
SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 15 -
1
Accounting policies
Company information

Silver Street Engineering Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .

The group consists of Silver Street Engineering Limited and all of its subsidiaries.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold . The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 16 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Silver Street Engineering Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 30 June 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 17 -

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised in the company acquiring the asset. so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
5% per annum on cost
Leasehold land and buildings
5% per annum on cost
Plant and equipment
20% per annum on cost
Fixtures and fittings
10% per annum on cost
Computers
33 1/3% per annum on cost
Motor vehicles
33 1/3 and 10% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

A full year of depreciation is charged in the year of acquisition.

1.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 18 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 19 -
1.10
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.11
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 current liabilities.

1.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 20 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 21 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 22 -
1.18

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Accrued income

The company estimates the profit margin which will be made on the costs recorded on projects. The directors have considered profit margins usually made from historical projects as a basis for the margin to be applied.

Determining the useful economic lives of tangible assets

The company depreciates tangible assets, over their estimated useful lives. The estimation of the useful lives of tangible assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 23 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sales of spares/repairs
5,824,434
6,781,823
Installation contracts
5,428,364
4,703,410
11,252,798
11,485,233
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
11,070,415
10,949,639
Overseas
182,383
535,594
11,252,798
11,485,233
2025
2024
£
£
Other revenue
Interest income
43,374
12,328
Royalty income
15,882
9,953
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
171,288
152,759
Profit on disposal of tangible fixed assets
(4,000)
(20,000)
Operating lease charges
61,250
52,000
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
2,500
2,467
Audit of the financial statements of the company's subsidiaries
19,500
18,500
22,000
20,967
For other services
Taxation compliance services
1,525
1,525
All other non-audit services
1,375
1,375
2,900
2,900
SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 24 -
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Production Staff
27
27
-
-
Administrative Staff
27
27
2
2
Total
54
54
2
2

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
2,165,172
2,249,893
-
0
-
0
Social security costs
230,667
226,828
-
-
Pension costs
264,672
400,844
-
0
-
0
2,660,511
2,877,565
-
0
-
0
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
43,374
12,328
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
14,692
69,674
Other interest
3,947
-
Total finance costs
18,639
69,674
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
801,866
592,074
SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
9
Taxation
2025
2024
£
£
(Continued)
- 25 -
Deferred tax
Origination and reversal of timing differences
2,512
14,438
Total tax charge
804,378
606,512

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
3,152,796
2,360,432
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
788,199
590,108
Tax effect of expenses that are not deductible in determining taxable profit
217
403
Depreciation on assets not qualifying for tax allowances
16,908
16,791
Tax at marginal rate
(736)
(1,000)
Other short term timing differences
(210)
210
Taxation charge
804,378
606,512
10
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
300,412
274,864
11
Intangible fixed assets
Group
Negative goodwill
£
Cost
At 1 July 2024 and 30 June 2025
(2,532,286)
Amortisation and impairment
At 1 July 2024 and 30 June 2025
(2,532,286)
SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
11
Intangible fixed assets
(Continued)
- 26 -
Carrying amount
At 30 June 2025
-
0
At 30 June 2024
-
0
The company had no intangible fixed assets at 30 June 2025 or 30 June 2024.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 27 -
12
Tangible fixed assets
Group
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 July 2024
1,741,844
152,894
51,456
27,676
32,951
183,934
2,190,755
Additions
-
0
-
0
-
0
68,037
9,744
27,395
105,176
At 30 June 2025
1,741,844
152,894
51,456
95,713
42,695
211,329
2,295,931
Depreciation and impairment
At 1 July 2024
112,625
21,706
22,584
10,577
19,843
97,496
284,831
Depreciation charged in the year
56,312
10,853
9,473
10,449
13,758
70,443
171,288
At 30 June 2025
168,937
32,559
32,057
21,026
33,601
167,939
456,119
Carrying amount
At 30 June 2025
1,572,907
120,335
19,399
74,687
9,094
43,390
1,839,812
At 30 June 2024
1,629,219
131,188
28,872
17,099
13,108
86,438
1,905,924
The company had no tangible fixed assets at 30 June 2025 or 30 June 2024.
SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
12
Tangible fixed assets
(Continued)
- 28 -

The carrying value of land and buildings comprises:

Group
Company
2025
2024
2025
2024
£
£
£
£
Freehold
-
0
1,629,219
-
0
-
0

Freehold land and buildings with a fair value cost of £1,770,000 (per valuation dated 14 January 2022) has been used to secure borrowing for the group.

In addition to the above the remaining assets have also been used to secure borrowing for the group.

13
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
7,860,000
7,860,000
Listed investments
500,000
-
0
-
0
-
0
500,000
-
0
7,860,000
7,860,000

The company's investments in listed securities are valued using quoted market prices in active markets.

Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 July 2024
-
Additions
500,000
At 30 June 2025
500,000
Carrying amount
At 30 June 2025
500,000
At 30 June 2024
-
SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
13
Fixed asset investments
(Continued)
- 29 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 July 2024 and 30 June 2025
7,860,000
Carrying amount
At 30 June 2025
7,860,000
At 30 June 2024
7,860,000
14
Subsidiaries

Details of the company's subsidiaries at 30 June 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Longwood Engineering Company (Holdings) Limited
England & Wales
51,000 £1 ordinary shares
100.00
-
Longwood Engineering Company Limited
England & Wales
2,600 £1 ordinary shares
0
100.00
15
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
842,867
858,398
-
-
16
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,218,806
904,394
-
0
-
0
Amounts owed by customers on construction contracts
801,690
972,972
-
0
-
0
Other debtors
7,704
5,904
4
4
Prepayments and accrued income
26,406
31,302
-
0
-
0
2,054,606
1,914,572
4
4
SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 30 -
17
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
19
-
0
53,426
-
0
53,426
Amounts owed to group undertakings
19
-
0
-
0
7,870,000
6,892,706
Trade creditors
868,364
971,988
-
0
-
0
Corporation tax payable
451,320
392,171
-
0
-
0
Other taxation and social security
273,027
98,906
-
-
Deferred income
21
355,469
62,240
-
0
-
0
Accruals and deferred income
294,793
315,064
-
0
-
0
2,242,973
1,893,795
7,870,000
6,946,132
18
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
19
-
0
947,605
-
0
947,605
19
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
-
0
1,001,031
-
0
1,001,031
Loans from group undertakings
-
0
-
0
7,870,000
6,892,706
-
1,001,031
7,870,000
7,893,737
Payable within one year
-
0
53,426
7,870,000
6,946,132
Payable after one year
-
0
947,605
-
0
947,605

As at the year end 30 June 2022 the company Silver Street Engineering Limited entered into a long-term loan agreement for a mortgage of £1,100,000, expiring on the 30 June 2027. The interest rate for the loan is 5.65%. An early repayment of the mortgage has been made during the year.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 31 -
20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
21,458
18,946
Revaluations
63,849
63,849
85,307
82,795
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 July 2024
82,795
-
Charge to profit or loss
2,512
-
Liability at 30 June 2025
85,307
-

The deferred tax liability has arisen as a result of accelerated capital allowances in Longwood Engineering Limited.

Further it has arisen as a result of revaluing the land and buildings during the year in Longwood Engineering Company (Holdings) Limited. It accounts for the potential tax liability in future years as a result of the increase in value.

21
Deferred income
Group
Company
2025
2024
2025
2024
£
£
£
£
Other deferred income
355,469
62,240
-
-

Deferred income relates to goods that were invoiced before the year end but not dispatched until post year end.

22
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
264,672
400,844
SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
22
Retirement benefit schemes
(Continued)
- 32 -

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

23
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4
4
4
4
24
Reserves

Profit and loss account, this reserve records retained earnings and accumulated losses.

25
Contingencies

The company is a member of a VAT group. VAT liabilities of the group members at 30 June 2025 amounted to a creditor balance of £222,394 (202 4: £44,297). The company is also party to an unlimited multilateral bank guarantee with other members of the group. Bank borrowing amounted to £nil (2024: £1,001,031) for group members.

26
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
80,588
94,045
-
-
Between two and five years
67,644
146,085
-
-
148,232
240,130
-
-
27
Related party transactions

Included in creditors for the company is an amount due to, the subsidiary company, Longwood Engineering Company (Holdings) Limited of £5,8 83,797 (2024: £5,897,928) and an amount due to, an associated group company, Longwood Engineering Company Limited of £1,986,203 (2024: £994,778). Both balances are unsecured, repayable on demand and currently interest free.

SILVER STREET ENGINEERING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 33 -
28
Cash generated from group operations
2025
2024
£
£
Profit after taxation
2,348,418
1,753,921
Adjustments for:
Taxation charged
804,378
606,512
Finance costs
18,639
69,674
Investment income
(43,374)
(12,328)
Gain on disposal of tangible fixed assets
(4,000)
(20,000)
Depreciation and impairment of tangible fixed assets
171,288
152,759
Movements in working capital:
Decrease/(increase) in stocks
15,531
(5,652)
Increase in debtors
(140,034)
(353,226)
Increase/(decrease) in creditors
50,226
(236,541)
Increase/(decrease) in deferred income
293,229
(23,854)
Cash generated from operations
3,514,301
1,931,265
29
Analysis of changes in net funds - group
1 July 2024
Cash flows
30 June 2025
£
£
£
Cash at bank and in hand
2,591,858
893,701
3,485,559
Borrowings excluding overdrafts
(1,001,031)
1,001,031
-
1,590,827
1,894,732
3,485,559
2025-06-30 2024-07-01 false false CCH Software CCH Accounts Production 2025.300 Mr J M Taylor Mrs L J Battye false 12371571 bus:Consolidated 2024-07-01 2025-06-30 12371571 2024-07-01 2025-06-30 12371571 bus:Director1 2024-07-01 2025-06-30 12371571 bus:Director2 2024-07-01 2025-06-30 12371571 bus:RegisteredOffice 2024-07-01 2025-06-30 12371571 bus:Agent1 2024-07-01 2025-06-30 12371571 bus:Consolidated 2025-06-30 12371571 bus:Consolidated 2023-07-01 2024-06-30 12371571 2023-07-01 2024-06-30 12371571 2025-06-30 12371571 bus:Consolidated 2024-06-30 12371571 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2025-06-30 12371571 core:LandBuildings core:LeasedAssetsHeldAsLessee bus:Consolidated 2025-06-30 12371571 core:PlantMachinery bus:Consolidated 2025-06-30 12371571 core:FurnitureFittings bus:Consolidated 2025-06-30 12371571 core:ComputerEquipment bus:Consolidated 2025-06-30 12371571 core:MotorVehicles bus:Consolidated 2025-06-30 12371571 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-06-30 12371571 core:LandBuildings core:LeasedAssetsHeldAsLessee bus:Consolidated 2024-06-30 12371571 core:PlantMachinery bus:Consolidated 2024-06-30 12371571 core:FurnitureFittings bus:Consolidated 2024-06-30 12371571 core:ComputerEquipment bus:Consolidated 2024-06-30 12371571 core:MotorVehicles bus:Consolidated 2024-06-30 12371571 2024-06-30 12371571 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2025-06-30 12371571 core:CurrentFinancialInstruments bus:Consolidated 2024-06-30 12371571 core:ShareCapital bus:Consolidated 2025-06-30 12371571 core:ShareCapital bus:Consolidated 2024-06-30 12371571 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2025-06-30 12371571 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-06-30 12371571 core:ShareCapital 2025-06-30 12371571 core:ShareCapital 2024-06-30 12371571 core:ShareCapital bus:Consolidated 2023-06-30 12371571 core:ShareCapital 2023-06-30 12371571 core:RetainedEarningsAccumulatedLosses 2023-06-30 12371571 core:RetainedEarningsAccumulatedLosses 2024-06-30 12371571 core:RetainedEarningsAccumulatedLosses 2025-06-30 12371571 bus:Consolidated 2023-06-30 12371571 core:Goodwill 2024-07-01 2025-06-30 12371571 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 12371571 core:LandBuildings core:LongLeaseholdAssets 2024-07-01 2025-06-30 12371571 core:PlantMachinery 2024-07-01 2025-06-30 12371571 core:FurnitureFittings 2024-07-01 2025-06-30 12371571 core:ComputerEquipment 2024-07-01 2025-06-30 12371571 core:MotorVehicles 2024-07-01 2025-06-30 12371571 core:UKTax bus:Consolidated 2024-07-01 2025-06-30 12371571 core:UKTax bus:Consolidated 2023-07-01 2024-06-30 12371571 bus:Consolidated 1 2024-07-01 2025-06-30 12371571 bus:Consolidated 1 2023-07-01 2024-06-30 12371571 bus:Consolidated 2 2024-07-01 2025-06-30 12371571 bus:Consolidated 2 2023-07-01 2024-06-30 12371571 core:NegativeGoodwill bus:Consolidated 2024-06-30 12371571 core:NegativeGoodwill bus:Consolidated 2025-06-30 12371571 core:NegativeGoodwill bus:Consolidated 2024-06-30 12371571 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-06-30 12371571 core:LandBuildings core:LeasedAssetsHeldAsLessee bus:Consolidated 2024-06-30 12371571 core:PlantMachinery bus:Consolidated 2024-06-30 12371571 core:FurnitureFittings bus:Consolidated 2024-06-30 12371571 core:ComputerEquipment bus:Consolidated 2024-06-30 12371571 core:MotorVehicles bus:Consolidated 2024-06-30 12371571 bus:Consolidated 2024-06-30 12371571 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-07-01 2025-06-30 12371571 core:LandBuildings core:LeasedAssetsHeldAsLessee bus:Consolidated 2024-07-01 2025-06-30 12371571 core:PlantMachinery bus:Consolidated 2024-07-01 2025-06-30 12371571 core:FurnitureFittings bus:Consolidated 2024-07-01 2025-06-30 12371571 core:ComputerEquipment bus:Consolidated 2024-07-01 2025-06-30 12371571 core:MotorVehicles bus:Consolidated 2024-07-01 2025-06-30 12371571 core:LandBuildings core:OwnedOrFreeholdAssets 2025-06-30 12371571 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 12371571 core:ListedExchangeTraded bus:Consolidated 2025-06-30 12371571 core:ListedExchangeTraded bus:Consolidated 2024-06-30 12371571 core:ListedExchangeTraded 2025-06-30 12371571 core:ListedExchangeTraded 2024-06-30 12371571 core:Subsidiary1 2024-07-01 2025-06-30 12371571 core:Subsidiary2 2024-07-01 2025-06-30 12371571 core:Subsidiary1 1 2024-07-01 2025-06-30 12371571 core:Subsidiary2 2 2024-07-01 2025-06-30 12371571 core:CurrentFinancialInstruments bus:Consolidated 2025-06-30 12371571 core:CurrentFinancialInstruments 2025-06-30 12371571 core:CurrentFinancialInstruments 2024-06-30 12371571 core:CurrentFinancialInstruments bus:Consolidated 1 2025-06-30 12371571 core:CurrentFinancialInstruments bus:Consolidated 1 2024-06-30 12371571 core:CurrentFinancialInstruments 2 2025-06-30 12371571 core:CurrentFinancialInstruments 3 2025-06-30 12371571 core:WithinOneYear bus:Consolidated 2025-06-30 12371571 core:WithinOneYear bus:Consolidated 2024-06-30 12371571 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 12371571 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 12371571 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2025-06-30 12371571 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2024-06-30 12371571 core:Non-currentFinancialInstruments core:AfterOneYear 2025-06-30 12371571 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 12371571 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-06-30 12371571 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 12371571 bus:FRS102 2024-07-01 2025-06-30 12371571 bus:Audited 2024-07-01 2025-06-30 12371571 bus:ConsolidatedGroupCompanyAccounts 2024-07-01 2025-06-30 12371571 bus:FullAccounts 2024-07-01 2025-06-30 xbrli:pure xbrli:shares iso4217:GBP