Silver Lining Solutions Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03788040 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

SILVER LINING SOLUTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Pratt

S P Edwards

Miss A Westwood

J Townsend

Dr H Bristow

REGISTERED OFFICE:

TS2 Pinewood Business Park

Coleshill Road

Marsden Green

Solihull

B37 7HG

REGISTERED NUMBER:

03788040 (England and Wales)

ACCOUNTANTS:

Walker Thompson Ltd

Accountants

Empress House

43a Binley Road

Coventry

CV3 1HU

FIXED ASSETS

Intangible assets

2

1,865

5,099

Tangible assets

3

6,871

6,729

Investments

4

55

8,791

11,883

CURRENT ASSETS

Debtors

1,283,429

1,053,786

Cash at bank

513,190

282,439

1,796,619

1,336,225

CREDITORS

Amounts falling due within one year

933,009

803,433

NET CURRENT ASSETS

863,610

532,792

TOTAL ASSETS LESS CURRENT
LIABILITIES

872,401

544,675

CREDITORS

Amounts falling due after more than one
year

5

2,088,246

2,022,502

NET LIABILITIES

(1,215,845

)

(1,477,827

)

CAPITAL AND RESERVES

Called up share capital

6

9,483

Share premium

1,851,404

Profit and loss account

(3,076,732

)

(3,338,714

)

SHAREHOLDERS' FUNDS

(1,215,845

)

(1,477,827

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 November 2016 and were signed on
its behalf by:

Miss A Westwood - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Silver Lining Solutions Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Turnover

Turnover represents net invoiced sales of goods and services , excluding value added tax, and is

recognised by the company in respect of goods and services supplied during the year.

Intangible fixed assets

Amortisation is provided annually at 33.33% on cost to write off each asset over its estimated useful

life.

Tangible fixed assets

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

Office equipment

-

50% on cost

Foreign currencies

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 rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Pension costs and other post-retirement benefits

Contributions payable for the year are charged in the profit & loss account.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

36,964

Additions

1,999

At 29 February 2016

38,963

AMORTISATION

At 1 March 2015

31,865

Amortisation for year

5,233

At 29 February 2016

37,098

NET BOOK VALUE

At 29 February 2016

1,865

At 28 February 2015

5,099

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

60,729

Additions

7,051

At 29 February 2016

67,780

DEPRECIATION

At 1 March 2015

54,000

Charge for year

6,909

At 29 February 2016

60,909

NET BOOK VALUE

At 29 February 2016

6,871

At 28 February 2015

6,729

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 March 2015

and 29 February 2016

55

NET BOOK VALUE

At 29 February 2016

55

At 28 February 2015

55

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Silver Lining Solutions APAC Pty Ltd

Country of incorporation: Australia

Nature of business: Software licences & support

%

Class of shares:

holding

Ordinary

100.00

30.6.15

£

Aggregate capital and reserves

(42,036

)

Loss for the year

(42,091

)

5.

CREDITORS

Creditors include an amount of £ 2,022,502 (2015 - £ 2,022,502 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

150,580

Ordinary

1p

1,506

35

Ordinary C Shares

1p

-

797,700

Preferred A Shares

1p

7,977

9,483

7.	CONTROLLING PARTY

No individual party exercises absolute control of the issued share capital of the company.

8.	GOING CONCERN

Budgets prepared for the following accounting year indicate that the company will have a positive cash

flow for the ensuing year. The accounts have therefore been prepared on a going concern basis.