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SLERP LIMITED

Registered Number
10222686
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

SLERP LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

THEN, Jian-Peng Mark
WILLS, Adam John

Registered Address

57-58 Charlotte Road
Hudson Yard, 2nd Floor
London
EC2A 3QT

Registered Number

10222686 (England and Wales)
SLERP LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets538,28979,965
Tangible assets624,76136,713
63,050116,678
Current assets
Debtors71,551,9631,288,815
Cash at bank and on hand906,5133,232,299
2,458,4764,521,114
Creditors amounts falling due within one year8(1,434,595)(1,111,230)
Net current assets (liabilities)1,023,8813,409,884
Total assets less current liabilities1,086,9313,526,562
Creditors amounts falling due after one year9(34,198)(44,167)
Net assets1,052,7333,482,395
Capital and reserves
Called up share capital1,031,6821,031,682
Share premium7,226,3837,226,383
Profit and loss account(7,205,332)(4,775,670)
Shareholders' funds1,052,7333,482,395
The financial statements were approved and authorised for issue by the Board of Directors on 1 February 2024, and are signed on its behalf by:
THEN, Jian-Peng Mark
Director
Registered Company No. 10222686
SLERP LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on acquisitions of subsidiaries is included in ‘intangible assets’. Goodwill is carried at cost less accumulated amortisation and accumulated impairment losses. Goodwill amortisation is calculated by applying the straight-line method to its estimated useful life. Goodwill is being amortised to ‘administrative expenses’ over 3 years. Estimates of the useful economic life of goodwill are based on a variety of factors such as the expected use of the acquired business, the expected useful life of the cash generating units to which the goodwill is attributed, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses.
Revenue recognition policy
Revenue arises from commissions and service fees. Revenue from commissions is earned and recognised at the point of order fulfilment when all of the performance obligations are recognised. Revenue is measured at the fair value of the consideration received or receivable for services provided in the normal course of business and net of refund, discounts and sales taxes.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company will be able to continue to meet its financial obligations for a period of at least 12 months from the date of this report. In deciding that this basis was appropriate, the director considered its cash flow forecasts and the likelihood of securing new investment if and as required.
4.Employee information

20232022
Average number of employees during the year2630
5.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 July 22125,027521,008646,035
At 30 June 23125,027521,008646,035
Amortisation and impairment
At 01 July 2245,062521,008566,070
Charge for year41,676-41,676
At 30 June 2386,738521,008607,746
Net book value
At 30 June 2338,289-38,289
At 30 June 2279,965-79,965
6.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 July 2265,38965,389
Additions10,39410,394
At 30 June 2375,78375,783
Depreciation and impairment
At 01 July 2228,67628,676
Charge for year22,34622,346
At 30 June 2351,02251,022
Net book value
At 30 June 2324,76124,761
At 30 June 2236,71336,713
7.Debtors

2023

2022

££
Trade debtors / trade receivables10,327954
Other debtors246,73826,573
Prepayments and accrued income1,294,8981,261,288
Total1,551,9631,288,815
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables57,79767,505
Bank borrowings and overdrafts1,407218
Taxation and social security38,545119,431
Other creditors1,270,569896,339
Accrued liabilities and deferred income66,27727,737
Total1,434,5951,111,230
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts34,19844,167
Total34,19844,167
10.Provisions for liabilities