Company registration number 09752854 (England and Wales)
SLW ENTERPRISE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SLW ENTERPRISE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
SLW ENTERPRISE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
29 SEPTEMBER 2023
29 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1,216,200
914,700
Current assets
Cash and cash equivalents
50
50
Current liabilities
4
(178,818)
(72,267)
Net current liabilities
(178,768)
(72,217)
Total assets less current liabilities
1,037,432
842,483
Equity
Called up share capital
100
100
Retained earnings
1,037,332
842,383
Total equity
1,037,432
842,483
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 24 January 2024
Mr S L Walton
Director
Company Registration No. 09752854
SLW ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information
SLW Enterprise Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Crossley Stud Farm, Buxton Road, Congleton, Cheshire, CW12 2 PN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Non-current investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
SLW ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,216,200
914,700
SLW ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2023
3
Fixed asset investments
(Continued)
- 4 -
Movements in non-current investments
Shares in subsidiaries
£
Cost or valuation
At 30 September 2022
914,700
Additions
301,500
At 29 September 2023
1,216,200
Carrying amount
At 29 September 2023
1,216,200
At 29 September 2022
914,700
4
Current liabilities
2023
2022
£
£
Other payables
178,818
72,267
5
Related party transactions
The following amounts were outstanding at the reporting end date:
2023
2022
Amounts due to related parties
£
£
Chemcolloids Limited
178,228
71,757