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REGISTERED NUMBER: 11277465 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SLIC SHEET METAL FABRICATIONS LIMITED

SLIC SHEET METAL FABRICATIONS LIMITED (REGISTERED NUMBER: 11277465)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SLIC SHEET METAL FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr S C Lynes





REGISTERED OFFICE: Unit 10
Hellesdon Hall Industrial Estate
Drayton High Road
Norwich
Norfolk
NR6 5DR





REGISTERED NUMBER: 11277465 (England and Wales)





ACCOUNTANTS: LEES
Chartered Certified Accountants
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

SLIC SHEET METAL FABRICATIONS LIMITED (REGISTERED NUMBER: 11277465)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 215,508 210,765

CURRENT ASSETS
Stocks 6,385 6,385
Debtors 5 174,975 123,175
Cash at bank 81,733 79,424
263,093 208,984
CREDITORS
Amounts falling due within one year 6 215,437 198,454
NET CURRENT ASSETS 47,656 10,530
TOTAL ASSETS LESS CURRENT
LIABILITIES

263,164

221,295

CREDITORS
Amounts falling due after more than one year 7 (108,302 ) (137,244 )

PROVISIONS FOR LIABILITIES (53,877 ) (32,954 )
NET ASSETS 100,985 51,097

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 100,885 50,997
SHAREHOLDERS' FUNDS 100,985 51,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





Mr S C Lynes - Director


SLIC SHEET METAL FABRICATIONS LIMITED (REGISTERED NUMBER: 11277465)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Slic Sheet Metal Fabrications 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on cost and 10% on reducing balance

Grants
Grants which are to acquire tangible fixed assets are credited to deferred grants and released to the profit and loss account over the estimated useful lives of the relevant assets.

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 Statement of Income and Retained Earnings, 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

SLIC SHEET METAL FABRICATIONS LIMITED (REGISTERED NUMBER: 11277465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 281,354
Additions 38,351
At 31 March 2023 319,705
DEPRECIATION
At 1 April 2022 70,589
Charge for year 33,608
At 31 March 2023 104,197
NET BOOK VALUE
At 31 March 2023 215,508
At 31 March 2022 210,765

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 151,253
DEPRECIATION
At 1 April 2022 24,297
Charge for year 13,967
At 31 March 2023 38,264
NET BOOK VALUE
At 31 March 2023 112,989
At 31 March 2022 126,956

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 143,133 103,744
Other debtors 31,842 19,431
174,975 123,175

SLIC SHEET METAL FABRICATIONS LIMITED (REGISTERED NUMBER: 11277465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,900 4,839
Hire purchase contracts 27,225 27,225
Trade creditors 78,392 52,104
Taxation and social security 41,414 32,197
Other creditors 63,506 82,089
215,437 198,454

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 33,359 38,319
Hire purchase contracts 40,796 68,022
Other creditors 34,147 30,903
108,302 137,244

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
NIL Ordinary £1 - 100
60 Ordinary A £1 60 -
30 Ordinary B £1 30 -
5 Ordinary C £1 5 -
5 Ordinary D £1 5 -
100 100

During the year, the 100 Ordinary £1 shares were reclassified as above.

9. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies is £205,336 (2022 - £119,750).

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr S C Lynes
Balance outstanding at start of year 6,436 6,436
Amounts advanced - 6,436
Amounts repaid (6,500 ) (6,436 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (64 ) 6,436