Silver Sea Group Ltd - Accounts to registrar (filleted) - small 23.2.5

Silver Sea Group Ltd - Accounts to registrar (filleted) - small 23.2.5


IRIS Accounts Production v23.2.0.158 11821657 director 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure118216572022-03-31118216572023-03-31118216572022-04-012023-03-31118216572021-03-31118216572021-04-012022-03-31118216572022-03-3111821657ns16:EnglandWales2022-04-012023-03-3111821657ns15:PoundSterling2022-04-012023-03-3111821657ns11:Director12022-04-012023-03-3111821657ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3111821657ns11:SmallEntities2022-04-012023-03-3111821657ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3111821657ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3111821657ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3111821657ns11:FullAccounts2022-04-012023-03-311182165712022-04-012023-03-3111821657ns11:RegisteredOffice2022-04-012023-03-3111821657ns6:CurrentFinancialInstruments2023-03-3111821657ns6:CurrentFinancialInstruments2022-03-3111821657ns6:Non-currentFinancialInstruments2023-03-3111821657ns6:Non-currentFinancialInstruments2022-03-3111821657ns6:ShareCapital2023-03-3111821657ns6:ShareCapital2022-03-3111821657ns6:RetainedEarningsAccumulatedLosses2023-03-3111821657ns6:RetainedEarningsAccumulatedLosses2022-03-3111821657ns6:NetGoodwill2022-04-012023-03-3111821657ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3111821657ns6:PlantMachinery2022-04-012023-03-3111821657ns6:FurnitureFittings2022-04-012023-03-3111821657ns6:ComputerEquipment2022-04-012023-03-3111821657ns6:NetGoodwill2022-03-3111821657ns6:NetGoodwill2023-03-3111821657ns6:NetGoodwill2022-03-3111821657ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-3111821657ns6:PlantMachinery2022-03-3111821657ns6:FurnitureFittings2022-03-3111821657ns6:ComputerEquipment2022-03-3111821657ns6:ShortLeaseholdAssetsns6:LandBuildings2022-04-012023-03-3111821657ns6:ShortLeaseholdAssetsns6:LandBuildings2023-03-3111821657ns6:PlantMachinery2023-03-3111821657ns6:FurnitureFittings2023-03-3111821657ns6:ComputerEquipment2023-03-3111821657ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-3111821657ns6:PlantMachinery2022-03-3111821657ns6:FurnitureFittings2022-03-3111821657ns6:ComputerEquipment2022-03-3111821657ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3111821657ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31
REGISTERED NUMBER: 11821657 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

Silver Sea Group Ltd

Silver Sea Group Ltd (Registered number: 11821657)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Silver Sea Group Ltd

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A Barnard





REGISTERED OFFICE: Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP





REGISTERED NUMBER: 11821657 (England and Wales)





ACCOUNTANTS: Jones & Co
Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP

Silver Sea Group Ltd (Registered number: 11821657)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,750 19,750
Tangible assets 5 67,261 84,077
85,011 103,827

CURRENT ASSETS
Stocks 3,050 2,050
Debtors 6 751 671
Cash at bank and in hand 23,035 55,761
26,836 58,482
CREDITORS
Amounts falling due within one year 7 114,154 137,241
NET CURRENT LIABILITIES (87,318 ) (78,759 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,307 ) 25,068

CREDITORS
Amounts falling due after more than one year 8 14,606 20,462
NET (LIABILITIES)/ASSETS (16,913 ) 4,606

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (16,933 ) 4,586
(16,913 ) 4,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 22 September 2023 and were signed by:





A Barnard - Director


Silver Sea Group Ltd (Registered number: 11821657)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Silver Sea Group 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 represents sales of takeaway food net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 20% on reducing balance

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 period comprises current tax, 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
Taxation for the period comprises current tax, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 12 ) .

Silver Sea Group Ltd (Registered number: 11821657)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 20,000
AMORTISATION
At 1 April 2022 250
Amortisation for year 2,000
At 31 March 2023 2,250
NET BOOK VALUE
At 31 March 2023 17,750
At 31 March 2022 19,750

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Office
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022
and 31 March 2023 1 104,402 1,306 211 105,920
DEPRECIATION
At 1 April 2022 - 21,369 398 76 21,843
Charge for year - 16,607 182 27 16,816
At 31 March 2023 - 37,976 580 103 38,659
NET BOOK VALUE
At 31 March 2023 1 66,426 726 108 67,261
At 31 March 2022 1 83,033 908 135 84,077

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 751 671

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 5,803 16,893
Trade creditors (1 ) -
Taxation and social security 13,848 7,161
Other creditors 94,504 113,187
114,154 137,241

Silver Sea Group Ltd (Registered number: 11821657)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 14,606 20,462