Silver Lining Solutions Limited - Limited company - abbreviated

REGISTERED NUMBER: 03788040 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

FOR

SILVER LINING SOLUTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Pratt

S P Edwards

Miss A Westwood

J Townsend

Dr H Bristow

REGISTERED OFFICE:

TS2 Pinewood Business Park

Coleshill Road

Marsden Green

Solihull

B37 7HG

REGISTERED NUMBER:

03788040 (England and Wales)

ACCOUNTANTS:

Walker Thompson Ltd

Accountants

Empress House

43a Binley Road

Coventry

CV3 1HU

FIXED ASSETS

Intangible assets

2

5,477

11,596

Tangible assets

3

1,737

7,211

7,214

18,807

CURRENT ASSETS

Debtors

937,255

1,198,813

Cash at bank

491,225

713,194

1,428,480

1,912,007

CREDITORS

Amounts falling due within one year

917,585

1,041,430

NET CURRENT ASSETS

510,895

870,577

TOTAL ASSETS LESS CURRENT
LIABILITIES

518,109

889,384

CREDITORS

Amounts falling due after more than one
year

4

2,022,502

NET LIABILITIES

(1,504,393

)

(1,133,118

)

CAPITAL AND RESERVES

Called up share capital

5

9,483

Share premium

1,851,404

Profit and loss account

(3,365,280

)

(2,994,005

)

SHAREHOLDERS' FUNDS

(1,504,393

)

(1,133,118

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 16 July 2014 and were signed on its
behalf by:

Miss A Westwood - Director

1.	ACCOUNTING POLICIES

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 goods and services , excluding value added tax, and is

recognised by the company in respect of goods and services supplied during the year.

Intangible fixed assets

Amortisation is provided annually at 33.33% on cost to write off each asset over its estimated useful

life.

Tangible fixed assets

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

Office equipment

-

50% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Pension costs and other post-retirement benefits

Contributions payable for the year are charged in the profit & loss account.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

and 28 February 2014

29,697

AMORTISATION

At 1 March 2013

18,101

Amortisation for year

6,119

At 28 February 2014

24,220

NET BOOK VALUE

At 28 February 2014

5,477

At 28 February 2013

11,596

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

and 28 February 2014

49,270

DEPRECIATION

At 1 March 2013

42,059

Charge for year

5,474

At 28 February 2014

47,533

NET BOOK VALUE

At 28 February 2014

1,737

At 28 February 2013

7,211

4.

CREDITORS

Creditors include an amount of £ 2,022,502 (2013 - £ 2,022,502 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

150,580

Ordinary

1p

1,506

35

Ordinary C Shares

1p

-

797,700

Preferred A Shares

1p

7,977

9,483

35 Ordinary C Shares shares of 1p each were allotted and fully paid for cash at par during the year.

6.	CONTROLLING PARTY

No individual party exercises absolute control of the issued share capital of the company.

7.	GOING CONCERN

Budgets prepared for the following accounting year indicate that the company will have a positive cash

flow for the ensuing year. The accounts have therefore been prepared on a going concern basis.

Silver Lining Solutions Limited - Limited company - abbreviated - 11.0.0

Silver Lining Solutions Limited - Limited company - abbreviated - 11.0.0