Silvarious Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06529672 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 March 2016

for

Silvarious Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Ms E O'Donnell

REGISTERED OFFICE:

The Mills

Canal Street

Derby

DE1 2RJ

REGISTERED NUMBER:

06529672 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Intangible assets

2

40,000

60,000

Tangible assets

3

28,578

38,170

68,578

98,170

CURRENT ASSETS

Stocks

138,050

139,947

Debtors

674

419

Cash at bank and in hand

75,167

31,121

213,891

171,487

CREDITORS

Amounts falling due within one year

4

202,039

190,865

NET CURRENT ASSETS/(LIABILITIES)

11,852

(19,378

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

80,430

78,792

CREDITORS

Amounts falling due after more than one
year

4

13,318

18,475

NET ASSETS

67,112

60,317

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

67,012

60,217

SHAREHOLDERS' FUNDS

67,112

60,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 7 October 2016 and were signed by:

Ms E O'Donnell - 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 January 2015).

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being

amortised evenly over its estimated remaining useful life of 3 years, from 1 April 2015.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

10% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all material timing differences.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated

over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

200,000

AMORTISATION

At 1 April 2015

140,000

Amortisation for year

20,000

At 31 March 2016

160,000

NET BOOK VALUE

At 31 March 2016

40,000

At 31 March 2015

60,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

105,007

Additions

2,135

At 31 March 2016

107,142

DEPRECIATION

At 1 April 2015

66,837

Charge for year

11,727

At 31 March 2016

78,564

NET BOOK VALUE

At 31 March 2016

28,578

At 31 March 2015

38,170

4.

CREDITORS

Creditors include an amount of £ 19,226 (2015 - £ 24,633 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100