SILCA LIMITED
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Registered number: |
02549786
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Balance Sheet |
as at 30 June 2019
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Notes |
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2019 |
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2018 |
£ |
£ |
Current assets |
Stocks |
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- |
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109,660 |
Debtors |
3 |
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246,519 |
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895,408 |
Cash at bank and in hand |
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587,539 |
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779,552 |
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834,058 |
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1,784,620 |
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Creditors: amounts falling due within one year |
4 |
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- |
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(950,562) |
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Net current assets |
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834,058 |
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834,058 |
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Net assets |
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834,058 |
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834,058 |
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Capital and reserves |
Called up share capital |
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411,050 |
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411,050 |
Capital contribution reserve |
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7,894 |
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7,894 |
Profit and loss account |
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415,114 |
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415,114 |
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Shareholder's funds |
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834,058 |
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834,058 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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K Niederhauser |
B G Brinker |
Director |
Director |
Approved by the board on 12 March 2020
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SILCA LIMITED
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Notes to the Accounts |
for the year ended 30 June 2019
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Advanced Diagnostics Limited, a subsidiary of Kaba Holdings (UK) Limited, a fellow group company, purchased the assets of Silca Limited on 1 July 2018.
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Turnover |
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Turnover represents the total income receivable by the company (exclusive of value added tax) in respect of goods sold and services rendered. Turnover from sales is recognised upon delivery to the customer, when there are no significant obligations remaining, and the collection of the resulting receivable is considered probable.
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Stocks |
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Stocks are valued at the lower of cost and net realisable value.
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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Leases |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the lease term.
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Pensions |
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The company operates a defined contribution pension scheme. The assets of the funded scheme are held independently of the company by Standard Life. The pension charge represents the amounts payable by the company to the fund in respect of the year.
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2 |
Employees |
2019 |
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2018 |
Number |
Number |
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Average number of persons employed by the company |
- |
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3 |
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3 |
Debtors |
2019 |
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2018 |
£ |
£ |
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Trade debtors |
- |
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889,579 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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246,519 |
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438 |
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Other debtors |
- |
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5,391 |
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246,519 |
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895,408 |
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4 |
Creditors: amounts falling due within one year |
2019 |
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2018 |
£ |
£ |
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Trade creditors |
- |
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11,288 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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- |
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706,144 |
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Taxation and social security costs |
- |
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202,903 |
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Other creditors |
- |
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30,227 |
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- |
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950,562 |
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5 |
Events after the reporting date |
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On 29 October 2019 the company's share capital was reduced from £411,050 divided into 411,050 ordinary shares of £1.00 each to 1 ordinary share of £1.00 by the cancellation of 411,049 issued ordinary shares of £1.00 each. The reduction was effected by returning paid up share capital to the sole shareholder.
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6 |
Related party transactions |
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The company has taken advantage of the exemption from disclosing related party transactions with other members of the dormakaba Holding AG group as it is a wholly owned subsidiary of Kaba Holding (UK) Limited.
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7 |
Ultimate parent company |
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The immediate parent undertaking is Kaba Holding (UK) Limited, a company incorporated in the United Kingdom. dormakaba Holding AG is the parent undertaking of the smallest and largest group of undertakings to consolidate these financial statements for the year ended 30 June 2019. The consolidated financial statements of dormakaba Holding AG are available from the registered office, Hofwisenstrasse 24, Ruemlang, CH-8153, Switzerland.
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8 |
Other information |
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SILCA LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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Unit 6 Eastboro Fields |
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Hemdale Business Park |
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Nuneaton |
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CV11 6GL |