Company Registration No. 06126072 (England and Wales)
SILVERTREES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
SILVERTREES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SILVERTREES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
11,085
13,761
Current assets
Debtors
5,407
6,617
5,407
6,617
Creditors: amounts falling due within one year
(111,589)
(104,352)
Net current liabilities
(106,182)
(97,735)
Total assets less current liabilities
(95,097)
(83,974)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(95,098)
(83,975)
Shareholder's funds
(95,097)
(83,974)
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 October 2016
Kashif Khan
Director
Company Registration No. 06126072
SILVERTREES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The accounts have been prepared on the going concern basis which is considered to be appropriate as the ability of the company to continue to trade is dependent upon the support of the director, K Khan, who has indicated that his support will continue for the foreseeable future. In the absence of such support, adjustments would need to be made to adjust the value of assets to their recoverable amounts and to provide for liabilities which may arise.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Office equipment
25% SL
Motor vehicles
15% SL
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Operating leases
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
SILVERTREES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015 & at 31 January 2016
21,324
Depreciation
At 1 February 2015
7,563
Charge for the year
2,676
At 31 January 2016
10,239
Net book value
At 31 January 2016
11,085
At 31 January 2015
13,761
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1