IRIS Accounts Production v23.2.0.158 08488995 director 1.7.22 30.6.23 30.6.23 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084889952022-06-30084889952023-06-30084889952022-07-012023-06-30084889952021-06-30084889952021-07-012022-06-30084889952022-06-3008488995ns10:Originalns15:EnglandWales2022-07-012023-06-3008488995ns14:PoundSterlingns10:Original2022-07-012023-06-3008488995ns10:Originalns10:Director12022-07-012023-06-3008488995ns10:Original2022-07-012023-06-3008488995ns10:Original2023-06-3008488995ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3008488995ns10:Originalns10:SmallEntities2022-07-012023-06-3008488995ns10:Originalns10:AuditExemptWithAccountantsReport2022-07-012023-06-3008488995ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3008488995ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3008488995ns10:Originalns10:FullAccounts2022-07-012023-06-3008488995ns10:Original12022-07-012023-06-3008488995ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3008488995ns10:Originalns10:OrdinaryShareClass22022-07-012023-06-3008488995ns10:OrdinaryShareClass3ns10:Original2022-07-012023-06-3008488995ns10:Originalns10:RegisteredOffice2022-07-012023-06-3008488995ns10:Original2022-06-3008488995ns10:Originalns5:CurrentFinancialInstruments2023-06-3008488995ns10:Originalns5:CurrentFinancialInstruments2022-06-3008488995ns5:ShareCapitalns10:Original2023-06-3008488995ns5:ShareCapitalns10:Original2022-06-3008488995ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3008488995ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3008488995ns10:Originalns5:NetGoodwill2022-07-012023-06-3008488995ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-07-012023-06-3008488995ns10:Originalns5:ComputerSoftware2022-07-012023-06-3008488995ns10:Originalns5:PlantMachinery2022-07-012023-06-3008488995ns10:Originalns5:MotorVehicles2022-07-012023-06-3008488995ns10:Original2021-07-012022-06-3008488995ns10:Originalns5:NetGoodwill2022-06-3008488995ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-3008488995ns10:Original2022-06-3008488995ns10:Originalns5:NetGoodwill2023-06-3008488995ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-06-3008488995ns10:Originalns5:NetGoodwill2022-06-3008488995ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-3008488995ns10:Originalns5:LandBuildings2022-06-3008488995ns10:Originalns5:LeaseholdImprovements2022-06-3008488995ns10:Originalns5:PlantMachinery2022-06-3008488995ns10:Originalns5:MotorVehicles2022-06-3008488995ns10:Originalns5:LandBuildings2022-07-012023-06-3008488995ns10:Originalns5:LeaseholdImprovements2022-07-012023-06-3008488995ns10:Originalns5:LandBuildings2023-06-3008488995ns10:Originalns5:LeaseholdImprovements2023-06-3008488995ns10:Originalns5:PlantMachinery2023-06-3008488995ns10:Originalns5:MotorVehicles2023-06-3008488995ns10:Originalns5:LandBuildings2022-06-3008488995ns10:Originalns5:LeaseholdImprovements2022-06-3008488995ns10:Originalns5:PlantMachinery2022-06-3008488995ns10:Originalns5:MotorVehicles2022-06-3008488995ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3008488995ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3008488995ns10:Originalns10:OrdinaryShareClass12023-06-3008488995ns10:Originalns10:OrdinaryShareClass22023-06-3008488995ns10:OrdinaryShareClass3ns10:Original2023-06-3008488995ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3008488995ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-30
REGISTERED NUMBER: 08488995 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

UK SLATE LIMITED

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

UK SLATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: M Gould





REGISTERED OFFICE: Units 15 & 16 Airfield Approach Bus Park
Flookburgh
Grange over Sands
Cumbria
LA11 7NG





REGISTERED NUMBER: 08488995 (England and Wales)





ACCOUNTANTS: RfM Ulverston Ltd
Bellevue
Princes St
Ulverston
Cumbria
LA12 7NB

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

BALANCE SHEET
30 JUNE 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,294 38,039
Tangible assets 5 63,955 209,771
69,249 247,810

CURRENT ASSETS
Stocks 1,325,419 1,624,404
Debtors 6 1,699,579 1,258,792
Cash at bank and in hand 525,269 1,152,457
3,550,267 4,035,653
CREDITORS
Amounts falling due within one year 7 1,300,360 1,684,529
NET CURRENT ASSETS 2,249,907 2,351,124
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,319,156

2,598,934

PROVISIONS FOR LIABILITIES 15,958 15,958
NET ASSETS 2,303,198 2,582,976

CAPITAL AND RESERVES
Called up share capital 8 202 202
Retained earnings 9 2,302,996 2,582,774
SHAREHOLDERS' FUNDS 2,303,198 2,582,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

BALANCE SHEET - continued
30 JUNE 2023


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 director and authorised for issue on 30 August 2023 and were signed by:





M Gould - Director


UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

UK Slate 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 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs is being amortised evenly over its estimated useful life of ten years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 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.

Stocks and work in progress are stated at the lower of cost and estimated costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

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.


UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

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 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 321,000 6,450 327,450
AMORTISATION
At 1 July 2022 288,900 511 289,411
Charge for year 32,100 645 32,745
At 30 June 2023 321,000 1,156 322,156
NET BOOK VALUE
At 30 June 2023 - 5,294 5,294
At 30 June 2022 32,100 5,939 38,039

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 141,591 9,740 33,206 83,069 267,606
Additions - - 2,746 52,562 55,308
Disposals (141,591 ) (9,740 ) - (65,319 ) (216,650 )
At 30 June 2023 - - 35,952 70,312 106,264
DEPRECIATION
At 1 July 2022 15,811 925 25,460 15,639 57,835
Charge for year - - 1,913 12,468 14,381
Eliminated on disposal (15,811 ) (925 ) - (13,171 ) (29,907 )
At 30 June 2023 - - 27,373 14,936 42,309
NET BOOK VALUE
At 30 June 2023 - - 8,579 55,376 63,955
At 30 June 2022 125,780 8,815 7,746 67,430 209,771

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 1,706,482 1,254,538
Provision for bad debts (9,427 ) (1,803 )
Directors' current accounts 155 -
Prepayments and accrued income 2,369 6,057
1,699,579 1,258,792

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Other loans - 21,183
Trade creditors 773,168 886,138
Provision for credit notes - (1,590 )
Corporation tax 200,666 208,049
Social security and other taxes 1,344 2,341
VAT 276,348 264,148
Directors' current accounts - 128,885
Accruals and deferred income 48,834 175,375
1,300,360 1,684,529

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
102 Ordinary A £1 102 102
98 Ordinary B £1 99 99
1 Ordinary C £1 1 1
202 202

9. RESERVES
Retained
earnings
£   

At 1 July 2022 2,582,774
Profit for the year 946,282
Dividends (1,226,060 )
At 30 June 2023 2,302,996

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within debtors amounts falling due within one year is a balance due by the director of £155 (2022: £128,885 owed to the director and included within creditors). The maximum overdrawn balance during the current and previous year was £155.

11. RELATED PARTY DISCLOSURES

During the year the company paid dividends to the director of £20,490 (2022: £87,320).

A dividend was paid during the year to the parent company, Slate Group Limited, totalling £1,130,524 which included a dividend in specie for transfer of assets to the parent.

At the year end there was an outstanding loan balance to the shareholders, Mr M & Mrs J M Nicholson of £nil (2022: £21,183).

During the year a management charge of £17,688 (2022 - £74,963) was incurred by the company in respect of services provided by United Slates Limited to source products for resale. United Slates Limited is owned by the shareholders Mr M & Mrs J M Nicholson who are shareholders of the company.

During the year a management charge of £130,398 (2022 - £nil) was incurred by the company in respect of services provided by its parent Slate Group Limited for provision of management services.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
UK SLATE LIMITED

The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements and the Report of the Director 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 UK Slate Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet 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 icaew.com/membershandbook.

This report is made solely to the director of UK Slate Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of UK Slate Limited and state those matters that we have agreed to state to the director of UK Slate Limited in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UK Slate Limited and its director for our work or for this report.

It is your duty to ensure that UK Slate 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 UK Slate Limited. You consider that UK Slate 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 UK Slate 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.






RfM Ulverston Ltd
Bellevue
Princes St
Ulverston
Cumbria
LA12 7NB


30 August 2023