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REGISTERED NUMBER: 05661369 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2017

for

SILVER CENTRE (UK) LIMITED

SILVER CENTRE (UK) LIMITED (REGISTERED NUMBER: 05661369)






Contents of the Financial Statements
for the Year Ended 31st March 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SILVER CENTRE (UK) LIMITED

Company Information
for the Year Ended 31st March 2017







DIRECTOR: C K Tung





SECRETARY: S Tsang





REGISTERED OFFICE: Unit 8, Cuerden Green Estate
Sherdley Road
Lostock Hall
Preston
Lancashire
PR5 5LP





REGISTERED NUMBER: 05661369 (England and Wales)






SILVER CENTRE (UK) LIMITED (REGISTERED NUMBER: 05661369)

Balance Sheet
31st March 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,289 10,975

CURRENT ASSETS
Stocks 232,864 276,293
Debtors 5 370,374 313,268
Cash at bank and in hand 26,376 43,318
629,614 632,879
CREDITORS
Amounts falling due within one year 6 1,594,649 1,737,466
NET CURRENT LIABILITIES (965,035 ) (1,104,587 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(956,746

)

(1,093,612

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (956,747 ) (1,093,613 )
SHAREHOLDERS' FUNDS (956,746 ) (1,093,612 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 22nd December 2017 and were signed by:





C K Tung - Director


SILVER CENTRE (UK) LIMITED (REGISTERED NUMBER: 05661369)

Notes to the Financial Statements
for the Year Ended 31st March 2017

1. STATUTORY INFORMATION

Silver Centre (UK) Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with
FRS 102 Section 1A for small entities. The date of transition is 1 April 2015.

The transition to FRS 102 Section 1A for small entities has resulted in no changes in accounting policies and no
reclassification adjustments.

Preparation of consolidated financial statements
The financial statements contain information about Silver Centre (UK) Limited as an individual company and do
not contain consolidated financial information as the parent of a group. The company has taken the option under
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover
Turnover is the value of services, net of value added tax, provided to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of
transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The accounts are prepared on a going concern basis, on the understanding of the continued support of the parent
company.

Cash at bank and in hand
Cash and cash equivalents includes cash in hand, deposits held with banks and bank overdrafts. Bank
overdrafts, when applicable, are shown within borrowings in current liabilities.

Basic financial liabilities
Basic financial liabilities, including trade creditors, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of
the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one
year are not amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

SILVER CENTRE (UK) LIMITED (REGISTERED NUMBER: 05661369)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2017

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2016
and 31st March 2017 9,313 2,926 45,245 57,484
DEPRECIATION
At 1st April 2016 8,167 2,728 35,614 46,509
Charge for year 229 49 2,408 2,686
At 31st March 2017 8,396 2,777 38,022 49,195
NET BOOK VALUE
At 31st March 2017 917 149 7,223 8,289
At 31st March 2016 1,146 198 9,631 10,975

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade debtors 347,577 300,699
Other debtors 7,743 2,680
Prepayments 15,054 9,889
370,374 313,268

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade creditors 1,563,121 1,364,516
Social security and other taxes 12,479 2,026
Other creditors - 341,049
Accrued expenses 19,049 29,875
1,594,649 1,737,466

7. RELATED PARTY DISCLOSURES

PWS (Macao commercial offshore)Ltd


Throughout the year Silver Centre (UK) Ltd has purchased goods from the above company totalling £347,627.
The amount owed to PWS (Macao Commercial Offshore) Ltd at 31 March 2017 is £1,563,121 (2016
£1,364,516)