Silkwood Developments Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01990093 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

SILKWOOD DEVELOPMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

5

DIRECTORS:

P D Humphrey

M Humphrey

M G Humphrey

REGISTERED OFFICE:

337 Bath Road

Slough

Berkshire

SL1 5PR

REGISTERED NUMBER:

01990093 (England and Wales)

ACCOUNTANTS:

Masons

337 Bath Road

Slough

Berkshire

SL1 5PR

CURRENT ASSETS

Stocks

4,353,374

4,353,374

Debtors

9,378

13,329

Cash at bank

34,002

59,177

4,396,754

4,425,880

CREDITORS

Amounts falling due within one year

2

3,303,346

3,328,557

NET CURRENT ASSETS

1,093,408

1,097,323

TOTAL ASSETS LESS CURRENT LIABILITIES

1,093,408

1,097,323

CREDITORS

Amounts falling due after more than one year

2

854,571

874,407

NET ASSETS

238,837

222,916

CAPITAL AND RESERVES

Called up share capital

3

150

150

Profit and loss account

238,687

222,766

SHAREHOLDERS' FUNDS

238,837

222,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 12 November 2014 and were signed on its behalf by:

M Humphrey - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis. In doing so consideration has

been given to unsecured funding provided by the directors of £179,172 and funding received from a

related party of £319,575.

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 April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred taxation

Deferred taxation is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

2.

CREDITORS

Creditors include an amount of £ 1,973,559 (31.3.13 - £ 1,997,417 ) for which security has been

given.

They also include the following debts falling due in more than five years:

31.3.14

31.3.13

£

£

Repayable otherwise than by instalments

464,899

464,899

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

150

Ordinary

£1

150

150

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Silkwood Developments Limited for the year ended 31 March 2014

which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its

ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Silkwood Developments Limited, as a body, in

accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval

the financial statements of Silkwood Developments Limited and state those matters that we have agreed to

state to the Board of Directors of Silkwood Developments Limited, as a body, in this report in accordance

with the requirements of the Association of Chartered Certified Accountants as detailed at

http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume

responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for

this report.

It is your duty to ensure that Silkwood Developments Limited has kept adequate accounting records and to

prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position

and profit of Silkwood Developments Limited. You consider that Silkwood Developments 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 financial statements of Silkwood

Developments 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 financial statements.

Masons

337 Bath Road

Slough

Berkshire

SL1 5PR

12 November 2014