Silva Legal Services Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08344374 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2022

for

Silva Legal Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Silva

G S Silva

REGISTERED OFFICE:

St Mary's Court

Amersham

Buckinghamshire

HP7 0UT

REGISTERED NUMBER:

08344374 (England and Wales)

BANKERS:

Lloyds Bank Plc

Uxbridge Branch

Birmingham OSC 4, Ariel House

2138 Coventry Road

Sheldon

B26 3JW

FIXED ASSETS

Tangible assets

4

5,479

5,261

CURRENT ASSETS

Debtors

5

1,382,795

1,341,574

Cash at bank

604,673

530,903

1,987,468

1,872,477

CREDITORS

Amounts falling due within one year

6

400,236

357,823

NET CURRENT ASSETS

1,587,232

1,514,654

TOTAL ASSETS LESS CURRENT LIABILITIES

1,592,711

1,519,915

CREDITORS

Amounts falling due after more than one year

7

(60,607

)

(78,789

)

PROVISIONS FOR LIABILITIES

8

(1,041

)

(1,000

)

NET ASSETS

1,531,063

1,440,126

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

10

1,530,863

1,439,926

SHAREHOLDERS' FUNDS

1,531,063

1,440,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 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 29 September 2022 and were signed on its behalf by:

G S Silva - Director

Mrs S Silva - Director

1.	STATUTORY INFORMATION

Silva Legal Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on cost

Government grants

Due to the disruption caused to the business by the Coronavirus Pandemic, the company received government aid in the form of small business grants which included payments from the Coronavirus Job Retention Scheme and a bank loan under the Coronavirus Business Interruption Loan Scheme (CBILS). The amounts received and receivable have been reflected under other income.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2021

2,238

10,120

12,358

Additions

-

2,395

2,395

At 31 January 2022

2,238

12,515

14,753

DEPRECIATION

At 1 February 2021

925

6,172

7,097

Charge for year

263

1,914

2,177

At 31 January 2022

1,188

8,086

9,274

NET BOOK VALUE

At 31 January 2022

1,050

4,429

5,479

At 31 January 2021

1,313

3,948

5,261

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade debtors

1,379,947

1,335,668

Other debtors

2,848

5,906

1,382,795

1,341,574

Included in trade debtors is an amount of £1,080,689 (2021 - £1,109,795) which is receivable after more than one year.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans and overdrafts

18,181

18,181

Trade creditors

43,017

17,359

Taxation and social security

333,227

316,620

Other creditors

5,811

5,663

400,236

357,823

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans

60,607

78,789

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,060

8.	PROVISIONS FOR LIABILITIES

31.1.22

31.1.21

£

£

Deferred tax

1,041

1,000

Deferred

tax

£

Balance at 1 February 2021

1,000

Provided during year

41

Balance at 31 January 2022

1,041

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.22

31.1.21

value:

£

£

200

Ordinary

£1

200

200

10.

RESERVES

Retained

earnings

£

At 1 February 2021

1,439,926

Profit for the year

451,937

Dividends

(361,000

)

At 31 January 2022

1,530,863

11.	RELATED PARTY DISCLOSURES

During the year the directors charged the company £21,000 (2021 - £21,000) for office rent and cleaning.