| Silver Moon Solutions Ltd |
| Registered number: |
06955770 |
| Statement of Financial Position |
| as at 31 March 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Current assets |
| Debtors |
3 |
|
171,380 |
|
|
178,248 |
| Cash at bank and in hand |
|
|
26,929 |
|
|
3,121 |
|
|
|
198,309 |
|
|
181,369 |
|
| Creditors: amounts falling due within one year |
4 |
|
(28,088) |
|
|
(24,753) |
|
| Net current assets |
|
|
|
170,221 |
|
|
156,616 |
|
| Net assets |
|
|
|
170,221 |
|
|
156,616 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
170,121 |
|
|
156,516 |
|
| Shareholders' funds |
|
|
|
170,221 |
|
|
156,616 |
|
|
|
|
|
|
|
|
| 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. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared 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. |
|
|
|
|
| Sarah Yates |
| Director |
| Approved by the board on 20 December 2017 |
|
| Silver Moon Solutions Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
|
|
|
Transition to FRS 102 |
|
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in the notes below. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Debtors |
|
Short term debtors are measured at transaction 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. |
|
|
Creditors |
|
Short term creditors are measured at transaction 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. |
|
|
Taxation |
|
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. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
- |
|
3,559 |
|
Accrued income |
1,380 |
|
- |
|
Other debtors |
170,000 |
|
174,689 |
|
|
|
|
|
|
171,380 |
|
178,248 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
170,000 |
|
170,000 |
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Accruals |
1,152 |
|
1,100 |
|
Directors' current accounts |
3,109 |
|
- |
|
Corporation tax |
14,101 |
|
18,406 |
|
Other taxes and social security costs |
9,726 |
|
5,247 |
|
|
|
|
|
|
28,088 |
|
24,753 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Sarah Yates |
|
Repayable on demand |
4,689 |
|
- |
|
4,689 |
|
- |
|
|
|
4,689 |
|
- |
|
4,689 |
|
- |
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
Silver Moon Estates Ltd |
|
|
Silver Moon Estates Ltd is a UK registered company in which Oliver Yates owns 100% of the share capital. Silver Moon Solutions Ltd made a loan in March 2016 of £170,000 to Silver Moon Estates Ltd, which is included in other debtors. The loan is due to be repaid in its entirety on 3 March 2026. |
|
Silver Moon Estates Ltd is paying monthly interest only payments of £460 in arrears to Silver Moon Solutions Ltd. The interest payments will cease in March 2026. |
|
| 7 |
Other information |
|
|
Silver Moon Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
32 Woodlands Road |
|
Camberley |
|
Surrey |
|
GU15 3NA |
|
| 8 |
Transition to FRS 102 |
|
|
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year. |
