Silverlinc Developments Limited - Accounts to registrar (filleted) - small 18.2

Silverlinc Developments Limited - Accounts to registrar (filleted) - small 18.2

SILVERLINC DEVELOPMENTS LTD - Company Information

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REGISTERED NUMBER: 11547075 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

SILVERLINC DEVELOPMENTS LTD
SILVERLINC DEVELOPMENTS LTD (REGISTERED NUMBER: 11547075)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SILVERLINC DEVELOPMENTS LTD


COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2020







DIRECTORS: Mrs J Hudson
C Hudson





REGISTERED OFFICE: Flat 16 Sterling Place Apartments
Sterling Place
Woodhall Spa
LN10 6NU





REGISTERED NUMBER: 11547075 (England and Wales)





ACCOUNTANTS: Drury & Co
Accountants & Business Advisors
21 Hollowgate
Rotherham
South Yorkshire
S60 2LE
Page 1
SILVERLINC DEVELOPMENTS LTD (REGISTERED NUMBER: 11547075)


BALANCE SHEET
30 SEPTEMBER 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Stocks 4 655,014 173,375
Debtors 5 10,143 286
Cash at bank 2,801 104,119
667,958 277,780
CREDITORS
Amounts falling due within one year 6 654,377 279,080
NET CURRENT ASSETS/(LIABILITIES) 13,581 (1,300 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
13,581
(1,300
)

CREDITORS
Amounts falling due after more than one
year
7
50,000
-
NET LIABILITIES (36,419 ) (1,300 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (36,519 ) (1,400 )
SHAREHOLDERS' FUNDS (36,419 ) (1,300 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

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SILVERLINC DEVELOPMENTS LTD (REGISTERED NUMBER: 11547075)


BALANCE SHEET - continued
30 SEPTEMBER 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2021 and were signed on its behalf by:





C Hudson - Director


The notes form part of these financial statements

Page 3
SILVERLINC DEVELOPMENTS LTD (REGISTERED NUMBER: 11547075)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020


1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4. STOCKS
2020 2019
£    £   
Work-in-progress 655,014 173,375

Page 4 continued...
SILVERLINC DEVELOPMENTS LTD (REGISTERED NUMBER: 11547075)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 10,143 286

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 324,190 -
Other creditors 330,187 279,080
654,377 279,080

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Bank loans 50,000 -

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
100 Ordinary shares £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the reporting date, the company was indebted to a director in the sum of £329,658 (2019 £278,830).

There are no formal repayment terms attached to this loan and interest is not being charged.

Page 5