Company Registration No. 04206214 (England and Wales)
Silver Imitation Accessories (SIA) Ltd.
Unaudited accounts
for the year ended 30 April 2022
Silver Imitation Accessories (SIA) Ltd.
Unaudited accounts
Contents
Silver Imitation Accessories (SIA) Ltd.
Company Information
for the year ended 30 April 2022
Directors
Nimisha Mamtora
Tushar Bhagwanji Mamtora
Company Number
04206214 (England and Wales)
Registered Office
8 Fulham Broadway
London
SW6 1AA
England
Silver Imitation Accessories (SIA) Ltd.
Statement of financial position
as at 30 April 2022
Tangible assets
2,684,982
2,698,174
Cash at bank and in hand
234,911
434,204
Creditors: amounts falling due within one year
(535,664)
(410,119)
Net current assets
684,178
517,619
Total assets less current liabilities
3,369,161
3,215,794
Creditors: amounts falling due after more than one year
(1,429,070)
(1,588,389)
Provisions for liabilities
Deferred tax
(30,782)
(30,782)
Net assets
1,909,309
1,596,623
Called up share capital
2
2
Profit and loss account
1,909,307
1,596,621
Shareholders' funds
1,909,309
1,596,623
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2023 and were signed on its behalf by
Tushar Bhagwanji Mamtora
Director
Company Registration No. 04206214
Silver Imitation Accessories (SIA) Ltd.
Notes to the Accounts
for the year ended 30 April 2022
Silver Imitation Accessories (SIA) Ltd. is a private company, limited by shares, registered in England and Wales, registration number 04206214. The registered office is 8 Fulham Broadway , London, SW6 1AA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives using the straight-line method. The rates applicable are:
Plant & machinery
15% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Grants received in relation to the Coronavirus Job Retention Scheme have been offset against employee costs.
Grants received for Business Rates Relief and Small Business Grant Fund are recognised in the profit and loss account as other income
The company operates a defined contribution scheme for the benefit of its directors and employees. The contributions payable are recognised in the profit and loss account when they fall due. Amounts due at the year end are shown in accruals as
Creditors.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Silver Imitation Accessories (SIA) Ltd.
Notes to the Accounts
for the year ended 30 April 2022
4
Intangible fixed assets
Goodwill
Intangible assets are being written off in equal annual instalments over its estimated economic life.
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2021
2,592,555
70,767
301,441
3,883
2,968,646
Additions
-
375
926
2,320
3,621
At 30 April 2022
2,592,555
71,142
302,367
6,203
2,972,267
At 1 May 2021
-
55,660
212,880
1,932
270,472
Charge for the year
-
2,322
13,423
1,068
16,813
At 30 April 2022
-
57,982
226,303
3,000
287,285
At 30 April 2022
2,592,555
13,160
76,064
3,203
2,684,982
At 30 April 2021
2,592,555
15,107
88,561
1,951
2,698,174
Amounts falling due within one year
Accrued income and prepayments
62,181
14,806
Other debtors
819,150
391,228
Amounts falling due after more than one year
Other debtors
87,500
87,500
Silver Imitation Accessories (SIA) Ltd.
Notes to the Accounts
for the year ended 30 April 2022
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
204,755
159,928
Taxes and social security
119,799
60,602
Loans from directors
19,699
16,162
8
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
765,323
824,642
Other creditors
663,747
763,747
9
Transactions with related parties
Included within Debtors are amounts due from Rescom Ltd and Devonshire Property Enterprises Ltd. Creditors include amounts due to Sia Beauty Ltd. The loans are unsecured and interest free. Mr Tushar Mamtora and Mrs Nimisha Mamtora are shareholders and directors of each of these companies.
10
Average number of employees
During the year the average number of employees was 54 (2021: 57).