Silverpoint Display Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08646914 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Silverpoint Display Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTOR:

S S Adams

REGISTERED OFFICE:

Pepper House

1 Pepper Road

Hazel Grove

Stockport

SK7 5DP

REGISTERED NUMBER:

08646914 (England and Wales)

ACCOUNTANTS:

Ascendis

Chartered Certified Accountants & Business Advisor

Unit 3, Building 2

The Colony Wilmslow

Altrincham Road

Wilmslow

Cheshire

SK9 4LY

FIXED ASSETS

Tangible assets

4

14,472

16,271

CURRENT ASSETS

Stocks

9,779

35,882

Debtors

5

138,762

288,765

Cash at bank

112,734

154,610

261,275

479,257

CREDITORS

Amounts falling due within one year

6

77,781

276,132

NET CURRENT ASSETS

183,494

203,125

TOTAL ASSETS LESS CURRENT LIABILITIES

197,966

219,396

PROVISIONS FOR LIABILITIES

7

2,460

-

NET ASSETS

195,506

219,396

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

195,406

219,296

SHAREHOLDERS' FUNDS

195,506

219,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 March 2018 and were signed by:

S S Adams - Director

1.	STATUTORY INFORMATION

Silverpoint Display Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 August 2016

6,950

9,539

5,968

22,457

Additions

-

-

1,540

1,540

At 31 July 2017

6,950

9,539

7,508

23,997

DEPRECIATION

At 1 August 2016

1,842

2,858

1,486

6,186

Charge for year

766

1,670

903

3,339

At 31 July 2017

2,608

4,528

2,389

9,525

NET BOOK VALUE

At 31 July 2017

4,342

5,011

5,119

14,472

At 31 July 2016

5,108

6,681

4,482

16,271

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

42,735

207,122

Amounts owed by group undertakings

84,537

-

Other debtors

11,490

288

Directors' current accounts

-

81,355

138,762

288,765

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

55,806

210,563

Tax

-

41,800

Social security and other taxes

420

316

VAT

15,713

903

Other creditors

2,375

-

Directors' current accounts

950

-

Accruals and deferred income

860

22,550

Accrued expenses

1,657

-

77,781

276,132

7.	PROVISIONS FOR LIABILITIES

31.7.17

31.7.16

£

£

Deferred tax

2,460

-

Deferred

tax

£

Provided during year

2,460

Balance at 31 July 2017

2,460

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.17

31.7.16

value:

£

£

100

Ordinary

£1

100

100

During the year S S Adams exchanged his shares of 70 ordinary A in Silverpoint Display Limited to Silverpoint

Holdings Ltd. S S Adams is director and owns 100% of Silverpoint Holdings Ltd.

Also during the year Silverpoint Display Limited exchanged shares from P N Housley of 30 ordinary B to

Silverpoint Holdings Ltd.

9.

RESERVES

Retained

earnings

£

At 1 August 2016

219,296

Profit for the year

33,810

Dividends

(57,700

)

At 31 July 2017

195,406

10.	RELATED PARTY DISCLOSURES

The company was under the control Silverpoint Holdings Limited and its director S S Adams who owns 100% of

the issued share capital in Silverpoint Holdings Limited.

Details of a share restructure is detailed in the share capital note.

There were no other transactions with related parties such as are required to be disclosed under Financial

Reporting Standard 8.

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

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

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

financial statements of Silverpoint Display Limited for the year ended 31 July 2017 which comprise the Income

Statement, Other Comprehensive Income, 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://www.accaglobal.com/rulebook.

This report is made solely to the director of Silverpoint Display Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Silverpoint Display Limited and state those matters that we have agreed to state to the director of Silverpoint Display Limited 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 director for our work or for this report.

It is your duty to ensure that Silverpoint Display 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 Silverpoint Display Limited. You consider that Silverpoint Display 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 Silverpoint Display 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.

Ascendis

Chartered Certified Accountants & Business Advisor

Unit 3, Building 2

The Colony Wilmslow

Altrincham Road

Wilmslow

Cheshire

SK9 4LY

8 March 2018