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Registered Number: 08351170
England and Wales

 

 

 

SLR ELECTRICAL SYSTEMS LIMITED


Unaudited Filleted Financial Statements
 


Period of accounts

Start date: 01 February 2021

End date: 31 January 2022
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 891    478 
891    478 
Current assets      
Debtors 4 118,855    129,554 
Cash at bank and in hand 376,845    270,661 
495,700    400,215 
Creditors: amount falling due within one year 5 (246,009)   (113,257)
Net current assets 249,691    286,958 
 
Total assets less current liabilities 250,582    287,436 
Creditors: amount falling due after more than one year 6   (76,500)
Provisions for liabilities 7 (169)   (91)
Net assets 250,413    210,845 
 

Capital and reserves
     
Called up share capital 90    90 
Profit and loss account 250,323    210,755 
Shareholder's funds 250,413    210,845 
 


For the year ended 31 January 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 06 September 2022 and were signed on its behalf by:


--------------------------------
Shaun Rossiter
Director
1
General Information
SLR Electrical Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 08351170, registration address Unit 205 Tedco Business Centre, Viking Industrial Park, Jarrow, Tyne & Wear, NE32 3DT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. 
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit & loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer equipment 3 years Straight Line
Motor Vehicles 4 years Straight Line
Plant and Machinery 4 years Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 9 (2021 : 11).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer equipment   Motor Vehicles   Total
  £   £   £   £
At 01 February 2021 3,010    4,424    25,906    33,340 
Additions   760      760 
Disposals      
At 31 January 2022 3,010    5,184    25,906    34,100 
Depreciation
At 01 February 2021 2,921    4,035    25,906    32,862 
Charge for year 89    258      347 
On disposals      
At 31 January 2022 3,010    4,293    25,906    33,209 
Net book values
Closing balance as at 31 January 2022   891      891 
Opening balance as at 01 February 2021 89    389      478 


4.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade Debtors 111,198    97,233 
Prepayments & Accrued Income 7,560    6,703 
Accrued Income   11,256 
Other Debtors 97    14,362 
118,855    129,554 

5.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 88,969    44,669 
Bank Loans & Overdrafts (Secured)   13,500 
Corporation Tax 44,760    49,620 
PAYE & Social Security 5,348    421 
Accrued Expenses 116    1,862 
Other Creditors 209    4,406 
Wages & Salaries Control Account 2,467   
Directors' Current Accounts 75,015   
Vat Account 29,125    (1,221)
246,009    113,257 

6.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts (secured)   76,500 
  76,500 
Secured bank loans
The CBILS loan was secured to the value of 80% by a government guarantee from Department of Business Energy & Industry Strategy. The loan was also secured by personal guarantees from S Ledger & S Rossiter in their capacity as directors of SLR Electrical Systems Ltd. The loan was fully repaid in August 2021. 

7.

Provisions for liabilities

2022
£
  2021
£
Deferred Tax 169    91 
169    91 

8.

Director’s loan

Director's Loan

Included in creditors: amounts due within one year, are amounts owed to S Rossiter, Director, of £75,015 (2021 - £nil)
9.

Related party transactions

The director occasionally pays expenses on behalf of the company from private funds and is subsequently reimbursed in full. 
10.

Controlling Party

With effect from 20th October 2021 the company was under the control of S Rossiter, director of the company.

2