The Coventry Silvercraft Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00967390 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 December 2020

for

The Coventry Silvercraft Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P McDermott

SECRETARY:

Mrs K D Cook

REGISTERED OFFICE:

56 Broad Street

Sidemoor

Bromsgrove

B61 8LL

REGISTERED NUMBER:

00967390 (England and Wales)

ACCOUNTANTS:

Nicklin LLP

Church Court

Stourbridge Road

Halesowen

West Midlands

B63 3TT

FIXED ASSETS

Tangible assets

4

428

6,835

CURRENT ASSETS

Stocks

12,757

6,397

Debtors

5

152,086

109,392

Cash at bank and in hand

9,986

11,202

174,829

126,991

CREDITORS

Amounts falling due within one year

6

82,440

81,836

NET CURRENT ASSETS

92,389

45,155

TOTAL ASSETS LESS CURRENT LIABILITIES

92,817

51,990

PROVISIONS FOR LIABILITIES

-

1,300

NET ASSETS

92,817

50,690

CAPITAL AND RESERVES

Called up share capital

200

200

Capital redemption reserve

800

800

Retained earnings

91,817

49,690

SHAREHOLDERS' FUNDS

92,817

50,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 September 2021 and were signed by:

P McDermott - Director

1.	STATUTORY INFORMATION

The Coventry Silvercraft Company 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.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2020

and 31 December 2020

81,014

57,290

20,283

158,587

DEPRECIATION

At 1 January 2020

78,950

52,895

19,907

151,752

Charge for year

2,064

4,070

273

6,407

At 31 December 2020

81,014

56,965

20,180

158,159

NET BOOK VALUE

At 31 December 2020

-

325

103

428

At 31 December 2019

2,064

4,395

376

6,835

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

43,885

15,505

Other debtors

108,201

93,887

152,086

109,392

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

50,000

-

Trade creditors

3,273

38,423

Taxation and social security

17,130

15,500

Other creditors

12,037

27,913

82,440

81,836

7.	RELATED PARTY DISCLOSURES

The total balance due from companies that the director has an interest in is £105,315 (2019 - £69,175).