Abbreviated Company Accounts - SILVERWELL CAPITAL (NI) LIMITED

SILVERWELL CAPITAL (NI) LIMITED - Company Information

Registered Number NI624033

SILVERWELL CAPITAL (NI) LIMITED

Abbreviated Accounts

30 April 2016

SILVERWELL CAPITAL (NI) LIMITED Registered Number NI624033

Abbreviated Balance Sheet as at 30 April 2016

	2016	2015
	£	£
Current assets
Debtors	41,828	35,084
Cash at bank and in hand	375	6,752
	42,203	41,836
Creditors: amounts falling due within one year	(71,110)	(57,631)
Net current assets (liabilities)	(28,907)	(15,795)
Total assets less current liabilities	(28,907)	(15,795)
Total net assets (liabilities)	(28,907)	(15,795)
Capital and reserves
Called up share capital	100	100
Profit and loss account	(29,007)	(15,895)
Shareholders' funds	(28,907)	(15,795)

For the year ending 30 April 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 23 January 2017

And signed on their behalf by:
Eugene O'Boyle, Director

SILVERWELL CAPITAL (NI) LIMITED Registered Number NI624033

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective January 2015). The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Turnover policy
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax

Other accounting policies
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Transactions, during the year, which are denominated in foreign currencies are translated at the rates of exchange ruling at the date of the transaction. The resulting exchange differences are dealt with in the profit and loss account.

Related Party Transactions

Mr Eugene O' Boyle, director of the company is also a director of and has an equity interest in Drumillen Management Ltd. During the year, the company received services in the amount of £25,550 from Drumillen Management Ltd (2015: £11,000).