Company Registration No. 10433219 (England and Wales)
SILK PLASTER UK LTD
Unaudited accounts
for the year ended 31 October 2021
SILK PLASTER UK LTD
Unaudited accounts
Contents
SILK PLASTER UK LTD
Company Information
for the year ended 31 October 2021
Company Number
10433219 (England and Wales)
Registered Office
56 Roman Pavement
Lincoln
LN2 5RD
UNITED KINGDOM
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Alchemy AAA Certified Public Accountants
Big Barn, East Farm, Atterby,
Market Rasen
Lincolnshire
LN8 2BJ
SILK PLASTER UK LTD
Statement of financial position
as at 31 October 2021
Tangible assets
4,013
2,515
Creditors: amounts falling due within one year
(14,635)
(6,369)
Net current assets
25,623
47,540
Total assets less current liabilities
29,636
50,055
Creditors: amounts falling due after more than one year
(33,485)
(45,000)
Provisions for liabilities
Deferred tax
(2,118)
(1,071)
Net (liabilities)/assets
(5,967)
3,984
Called up share capital
1
1
Capital contribution reserve
-
10,000
Profit and loss account
(5,968)
(6,017)
Shareholders' funds
(5,967)
3,984
For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 January 2022 and were signed on its behalf by
Vadim Prosekov
Director
Company Registration No. 10433219
SILK PLASTER UK LTD
Notes to the Accounts
for the year ended 31 October 2021
SILK PLASTER UK LTD is a private company, limited by shares, registered in England and Wales, registration number 10433219. The registered office is 56 Roman Pavement, Lincoln, LN2 5RD, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing balance
Computer equipment
20% Reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
SILK PLASTER UK LTD
Notes to the Accounts
for the year ended 31 October 2021
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2020
-
2,190
2,316
4,506
At 31 October 2021
2,500
2,190
2,316
7,006
At 1 November 2020
-
964
1,027
1,991
Charge for the year
500
245
257
1,002
At 31 October 2021
500
1,209
1,284
2,993
At 31 October 2021
2,000
981
1,032
4,013
At 31 October 2020
-
1,226
1,289
2,515
5
Debtors: amounts falling due within one year
2021
2020
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
12,457
1,253
Taxes and social security
1,357
-
Loans from directors
-
1,700
7
Creditors: amounts falling due after more than one year
2021
2020
A bounce back loan of £45,000 repayable over a 5 year term.
Yr 2. through to Yr 5. £33,485
Yr 2. £9,000 + interest
Yr 3. £9,000 + interest
Yr 4. £9,000 + interest
Yr 5. £6,485 + interest
SILK PLASTER UK LTD
Notes to the Accounts
for the year ended 31 October 2021
8
Deferred taxation
2021
2020
Accelerated capital allowances
2,118
1,071
Provision at start of year
1,071
1,071
Charged to the profit and loss account
1,047
-
Provision at end of year
2,118
1,071
A deferred taxation reserve has been created due to accelerated capital allowances.
This reserve will reverse in future periods creating a tax liability on the day at the prevailing rate.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 3 (2020: 3).
