REGISTERED NUMBER: 05661369 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

SILVER CENTRE (UK) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

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)

ACCOUNTANTS:

Abrams Ashton

Chartered Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Tangible assets

2

15,118

15,864

CURRENT ASSETS

Stocks

281,689

374,863

Debtors

327,580

372,048

Cash at bank and in hand

29,390

87,193

638,659

834,104

CREDITORS

Amounts falling due within one year

1,485,069

1,720,741

NET CURRENT LIABILITIES

(846,410

)

(886,637

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(831,292

)

(870,773

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(831,293

)

(870,774

)

SHAREHOLDERS' FUNDS

(831,292

)

(870,773

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 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 17 December 2014 and were signed by:

C K Tung - 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 April 2008).

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

49,194

Additions

4,145

At 31 March 2014

53,339

DEPRECIATION

At 1 April 2013

33,330

Charge for year

4,891

At 31 March 2014

38,221

NET BOOK VALUE

At 31 March 2014

15,118

At 31 March 2013

15,864

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

1

Ordinary

£1

1

1