Silray Limited - Period Ending 2016-09-30

Registration number: 05156574

Silray Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

Silray Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Silray Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Silray Limited for the year ended 30 September 2016 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Silray Limited , as a body, in accordance with the terms of our engagement . Our work has been undertaken solely to prepare for your approval the accounts of Silray Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Silray Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Silray Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Silray Limited. You consider that Silray Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Silray Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

7 April 2017

Page 1

Silray Limited
(Registration number: 05156574)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					186,871			186,871
Current assets
Cash at bank and in hand					284			297
Creditors: Amounts falling due within one year					(3,000)			(3,000)
Net current liabilities					(2,716)			(2,703)
Total assets less current liabilities					184,155			184,168
Creditors: Amounts falling due after more than one year					(19,662)			(16,662)
Net assets					164,493			167,506
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					163,493			166,506
Shareholders' funds					164,493			167,506

For the year ending 30 September 2016 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 director on 5 April 2017

.........................................
Mr K S Shah
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Silray Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Exemption from preparing a cashflow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents the rental income received.

Investment properties

The company's property is held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards to the company's investment property may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, this property is not held for consumption but for investment and the director considers that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be seperately identified or quantified.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Silray Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		186,871			186,871
At 30 September 2016		186,871			186,871
Depreciation
At 30 September 2016		-			-
Net book value
At 30 September 2016		186,871			186,871
At 30 September 2015		186,871			186,871

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

4

Control

There is no controlling party as the ordinary share capital is held in equal proportion by the two shareholders .

Page 4