IRIS Accounts Production v22.2.0.402 04126653 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure041266532020-12-31041266532021-12-31041266532021-01-012021-12-31041266532019-12-31041266532020-01-012020-12-31041266532020-12-3104126653ns16:EnglandWales2021-01-012021-12-3104126653ns15:PoundSterling2021-01-012021-12-3104126653ns11:Director12021-01-012021-12-3104126653ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3104126653ns11:SmallEntities2021-01-012021-12-3104126653ns11:AuditExemptWithAccountantsReport2021-01-012021-12-3104126653ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3104126653ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3104126653ns11:FullAccounts2021-01-012021-12-3104126653ns11:OrdinaryShareClass12021-01-012021-12-3104126653ns11:Director22021-01-012021-12-3104126653ns11:CompanySecretary12021-01-012021-12-3104126653ns11:RegisteredOffice2021-01-012021-12-3104126653ns6:CurrentFinancialInstruments2021-12-3104126653ns6:CurrentFinancialInstruments2020-12-3104126653ns6:Non-currentFinancialInstruments2021-12-3104126653ns6:Non-currentFinancialInstruments2020-12-3104126653ns6:ShareCapital2021-12-3104126653ns6:ShareCapital2020-12-3104126653ns6:RetainedEarningsAccumulatedLosses2021-12-3104126653ns6:RetainedEarningsAccumulatedLosses2020-12-3104126653ns6:LeaseholdImprovements2021-01-012021-12-3104126653ns6:PlantMachinery2021-01-012021-12-3104126653ns6:FurnitureFittings2021-01-012021-12-3104126653ns6:MotorVehicles2021-01-012021-12-3104126653ns6:ComputerEquipment2021-01-012021-12-3104126653ns6:LeaseholdImprovements2020-12-3104126653ns6:PlantMachinery2020-12-3104126653ns6:FurnitureFittings2020-12-3104126653ns6:LeaseholdImprovements2021-12-3104126653ns6:PlantMachinery2021-12-3104126653ns6:FurnitureFittings2021-12-3104126653ns6:LeaseholdImprovements2020-12-3104126653ns6:PlantMachinery2020-12-3104126653ns6:FurnitureFittings2020-12-3104126653ns6:MotorVehicles2020-12-3104126653ns6:ComputerEquipment2020-12-3104126653ns6:MotorVehicles2021-12-3104126653ns6:ComputerEquipment2021-12-3104126653ns6:MotorVehicles2020-12-3104126653ns6:ComputerEquipment2020-12-3104126653ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3104126653ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3104126653ns6:WithinOneYear2021-12-3104126653ns6:WithinOneYear2020-12-3104126653ns6:BetweenOneFiveYears2021-12-3104126653ns6:BetweenOneFiveYears2020-12-3104126653ns6:AllPeriods2021-12-3104126653ns6:AllPeriods2020-12-3104126653ns11:OrdinaryShareClass12021-12-31
REGISTERED NUMBER: 04126653 (England and Wales)















SLEC Limited

Unaudited Financial Statements

for the year ended

31 December 2021






SLEC Limited (Registered number: 04126653)

Contents of the Financial Statements
for the year ended 31 December 2021










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7

Chartered Accountants' Report 8

SLEC Limited

Company Information
for the year ended 31 December 2021







DIRECTORS: I A Hull
L Kleinberg





SECRETARY: Mrs P A Rudd





REGISTERED OFFICE: 8 Hopper Way
Diss
Norfolk
IP22 4GT





REGISTERED NUMBER: 04126653 (England and Wales)





ACCOUNTANTS: Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT

SLEC Limited (Registered number: 04126653)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 58,892 80,973

CURRENT ASSETS
Stocks 41,191 52,266
Debtors 5 39,440 32,667
Cash at bank and in hand 187,363 205,601
267,994 290,534
CREDITORS
Amounts falling due within one year 6 (129,210 ) (125,717 )
NET CURRENT ASSETS 138,784 164,817
TOTAL ASSETS LESS CURRENT LIABILITIES 197,676 245,790

CREDITORS
Amounts falling due after more than one year 7 (25,000 ) (40,000 )

PROVISIONS FOR LIABILITIES (11,190 ) (14,949 )
NET ASSETS 161,486 190,841

CAPITAL AND RESERVES
Called up share capital 9 50 50
Retained earnings 161,436 190,791
SHAREHOLDERS' FUNDS 161,486 190,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SLEC Limited (Registered number: 04126653)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 4 May 2022 and were signed on its behalf by:





L Kleinberg - Director


SLEC Limited (Registered number: 04126653)

Notes to the Financial Statements
for the year ended 31 December 2021


1. STATUTORY INFORMATION

SLEC 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SLEC Limited (Registered number: 04126653)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2020 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2021 5,272 183,904 23,973
Additions - 376 -
Disposals - - (12,975 )
At 31 December 2021 5,272 184,280 10,998
DEPRECIATION
At 1 January 2021 2,628 134,034 10,116
Charge for year 529 7,527 356
Eliminated on disposal - - (541 )
At 31 December 2021 3,157 141,561 9,931
NET BOOK VALUE
At 31 December 2021 2,115 42,719 1,067
At 31 December 2020 2,644 49,870 13,857

SLEC Limited (Registered number: 04126653)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2021 10,675 43,141 266,965
Additions - 1,747 2,123
Disposals - - (12,975 )
At 31 December 2021 10,675 44,888 256,113
DEPRECIATION
At 1 January 2021 1,068 38,146 185,992
Charge for year 1,921 1,437 11,770
Eliminated on disposal - - (541 )
At 31 December 2021 2,989 39,583 197,221
NET BOOK VALUE
At 31 December 2021 7,686 5,305 58,892
At 31 December 2020 9,607 4,995 80,973

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 36,544 29,672
Other debtors 2,896 2,995
39,440 32,667

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 53,729 22,533
Taxation and social security 41,782 83,670
Other creditors 33,699 19,514
129,210 125,717

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Other creditors 25,000 40,000

SLEC Limited (Registered number: 04126653)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year 1,373 -
Between one and five years 3,432 -
4,805 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
50 Ordinary 1 50 50

10. RELATED PARTY DISCLOSURES

At the year end, a director was owed £22,779 (2020 - £23,159) relating to an interest free loan with no set repayment terms.

At the year end, a shareholder was owed £31,209 (2020 - £31,615) relating to an interest free loan with no set repayment terms. The shareholder agreed that £25,000 (2020 - £25,000) of the loan is not repayable within 1 year.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
SLEC Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SLEC Limited for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of SLEC Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SLEC Limited and state those matters that we have agreed to state to the Board of Directors of SLEC Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SLEC Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SLEC Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SLEC Limited. You consider that SLEC Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SLEC Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT


Date: .............................................