Silverfin false false 31/12/2023 01/01/2023 31/12/2023 C Britton 17/12/2007 C Cannings 17/12/2007 A Gilbert 17/12/2007 K Gilbert 17/12/2007 14 March 2024 The principal activity of the Company during the financial year was real estate agency. 06454929 2023-12-31 06454929 bus:Director1 2023-12-31 06454929 bus:Director2 2023-12-31 06454929 bus:Director3 2023-12-31 06454929 bus:Director4 2023-12-31 06454929 2022-12-31 06454929 core:CurrentFinancialInstruments 2023-12-31 06454929 core:CurrentFinancialInstruments 2022-12-31 06454929 core:ShareCapital 2023-12-31 06454929 core:ShareCapital 2022-12-31 06454929 core:RetainedEarningsAccumulatedLosses 2023-12-31 06454929 core:RetainedEarningsAccumulatedLosses 2022-12-31 06454929 core:PlantMachinery 2022-12-31 06454929 core:FurnitureFittings 2022-12-31 06454929 core:OfficeEquipment 2022-12-31 06454929 core:PlantMachinery 2023-12-31 06454929 core:FurnitureFittings 2023-12-31 06454929 core:OfficeEquipment 2023-12-31 06454929 2023-01-01 2023-12-31 06454929 bus:FilletedAccounts 2023-01-01 2023-12-31 06454929 bus:SmallEntities 2023-01-01 2023-12-31 06454929 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06454929 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06454929 bus:Director1 2023-01-01 2023-12-31 06454929 bus:Director2 2023-01-01 2023-12-31 06454929 bus:Director3 2023-01-01 2023-12-31 06454929 bus:Director4 2023-01-01 2023-12-31 06454929 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 06454929 core:PlantMachinery 2023-01-01 2023-12-31 06454929 core:FurnitureFittings 2023-01-01 2023-12-31 06454929 core:OfficeEquipment 2023-01-01 2023-12-31 06454929 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 06454929 (England and Wales)

SPECIALIST LETTING AGENCY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

SPECIALIST LETTING AGENCY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SPECIALIST LETTING AGENCY LIMITED

BALANCE SHEET

As at 31 December 2023
SPECIALIST LETTING AGENCY LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 4,472 5,963
4,472 5,963
Current assets
Debtors 4 4,844 6,278
Cash at bank and in hand 601,095 520,412
605,939 526,690
Creditors: amounts falling due within one year 5 ( 371,003) ( 321,027)
Net current assets 234,936 205,663
Total assets less current liabilities 239,408 211,626
Provision for liabilities ( 851) ( 1,133)
Net assets 238,557 210,493
Capital and reserves
Called-up share capital 100 100
Profit and loss account 238,457 210,393
Total shareholders' funds 238,557 210,493

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Specialist Letting Agency Limited (registered number: 06454929) were approved and authorised for issue by the Board of Directors on 14 March 2024. They were signed on its behalf by:

C Britton
Director
SPECIALIST LETTING AGENCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SPECIALIST LETTING AGENCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Specialist Letting Agency Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 209 Redhill Drive, Ensbury Park, Bournemouth, Dorset, BH10 6AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2023 2,984 3,250 13,073 19,307
At 31 December 2023 2,984 3,250 13,073 19,307
Accumulated depreciation
At 01 January 2023 2,692 3,067 7,585 13,344
Charge for the financial year 73 46 1,372 1,491
At 31 December 2023 2,765 3,113 8,957 14,835
Net book value
At 31 December 2023 219 137 4,116 4,472
At 31 December 2022 292 183 5,488 5,963

4. Debtors

2023 2022
£ £
Other debtors 4,844 6,278

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 50,646 47,320
Other creditors 320,357 273,707
371,003 321,027