SILVER_DARLING_LIMITED - Accounts

SILVER DARLING LIMITED - Company Information

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Company Registration No. SC097184 (Scotland)

SILVER DARLING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

SILVER DARLING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

SILVER DARLING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

83,765

97,062

Current assets

Stocks

4,810

5,120

Debtors

13,374

19,489

Cash at bank and in hand

582

1,692

18,766

26,301

Creditors: amounts falling due within one year

(169,907)

(152,978)

Net current liabilities

(151,141)

(126,677)

Total assets less current liabilities

(67,376)

(29,615)

Creditors: amounts falling due after more than one year

(25,395)

(33,430)

Provisions for liabilities

(1,598)

(6,043)

(94,369)

(69,088)

Capital and reserves

Called up share capital

10,000

Profit and loss account

(104,369)

(79,088)

Shareholders' funds

(94,369)

(69,088)

SILVER DARLING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 2 September 2016

Mr Didier Dejean

Director

Company Registration No. SC097184

SILVER DARLING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern

The balance sheet shows that liabilities exceed assets by £94,361 including directors' loans to the company of £106,164. The directors have confirmed that they will maintain financial support for the foreseeable future to enable the company to continue normal trading operations. The financial statements are therefore drawn up on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

1.3

Turnover

Turnover consists of the sales value, excluding VAT, of work in the period under contracts to supply goods and services to third parties, together with related expenses. It includes the relevant proportion of contract value for performance up to the period end. Sales of services are recognised when the company has provided the service to the customer and collectability of the related receivable is reasonably assured.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

over the period of the lease

Computer equipment

33% straight line

Fixtures, fittings and equipment

25% straight line basis

1.5

Leasing

Leasing charges in respect of operating leases are recognised in the profit and loss account over the duration of the lease agreements as incurred.

1.6

Stock

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

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

SILVER DARLING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

324,914

Additions

500

Disposals

(341)

At 31 December 2015

325,073

Depreciation

At 1 January 2015

227,852

On disposals

(305)

Charge for the year

13,761

At 31 December 2015

241,308

Net book value

At 31 December 2015

83,765

At 31 December 2014

97,062

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £38,506 (2014 - £14,118).

Share capital

2015

2014

Allotted, called up and fully paid

10,000 Ordinary shares of £1 each

10,000