Accounts filed on 31-03-2016


Registered number: 08437159






Silverless Limited (formerly known as Nielsdesign Limited)


ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016
























Prepared By:
Michael Robins Limited
Maple Suite
10-12 High Street
Hungerford
Berkshire
RG17 0DN


Silverless Limited (formerly known as Nielsdesign Limited)


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31 March 2016

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 08437159


Registered Number: 08437159

BALANCE SHEET AT 31 MARCH 2016

			2016		2015
	Notes		£		£

FIXED ASSETS
Intangible assets	2		4,000		6,000
Tangible assets	3		9,887		12,234

			13,887		18,234

CURRENT ASSETS
Stock		4,975		4,125
Debtors (amounts falling due within one year)		7,548		6,627
Cash at bank and in hand		111		-
		12,634		10,752
CREDITORS: Amounts falling due within one year		18,317		16,834
NET CURRENT LIABILITIES			(5,683)		(6,082)
TOTAL ASSETS LESS CURRENT LIABILITIES			8,204		12,152


PROVISIONS FOR LIABILITIES			821		1,036

NET ASSETS			7,383		11,116

CAPITAL AND RESERVES

Called up share capital	4		1		1
Profit and loss account			7,382		11,115
SHAREHOLDERS' FUNDS			7,383		11,116

For the year ending 31 March 2016 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board on 12 December 2016 and signed on their behalf by




N Van Gijn
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).




1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).




1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Equipment		reducing balance 25%




1d. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.




1e. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1f. Foreign Currency
Transactions in foreign currency are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the exchange rate ruling at that date. Foreign exchange gains and losses are recognised in the income statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.




1g. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




1h. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.




4. SHARE CAPITAL	2016	2015
	£	£
Allotted, issued and fully paid:
1 Ordinary shares of £1 each	1	1
	1	1