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Company Registration No. 10860867 (England and Wales)
SL Transport Logistics Ltd Unaudited accounts for the year ended 31 July 2023
SL Transport Logistics Ltd Unaudited accounts Contents
Page
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SL Transport Logistics Ltd Company Information for the year ended 31 July 2023
Directors
Ms L Purina Mr S Purins
Company Number
10860867 (England and Wales)
Registered Office
56 Sunflower Road Emersons Green Bristol BS16 7JT
Accountants
A & A Accounting Solutions Limited 50 Romney Court Parkfield Drive NORTHOLT Middlesex UB5 5NT
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SL Transport Logistics Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
70,529 
82,537 
Current assets
Debtors
595,762 
666,278 
Cash at bank and in hand
48,706 
176,894 
644,468 
843,172 
Creditors: amounts falling due within one year
(652,396)
(819,871)
Net current (liabilities)/assets
(7,928)
23,301 
Total assets less current liabilities
62,601 
105,838 
Creditors: amounts falling due after more than one year
(44,861)
(51,118)
Provisions for liabilities
Deferred tax
(16,262)
(15,057)
Net assets
1,478 
39,663 
Capital and reserves
Called up share capital
10 
3 
Profit and loss account
1,468 
39,660 
Shareholders' funds
1,478 
39,663 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by
Ms L Purina Director Company Registration No. 10860867
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SL Transport Logistics Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
SL Transport Logistics Ltd is a private company, limited by shares, registered in England and Wales, registration number 10860867. The registered office is 56 Sunflower Road, Emersons Green, Bristol, BS16 7JT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
2.1 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, modified to include the revaluation of freehold properties and to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2 Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs.
2.3 Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant & machinery
25% straight line
Motor vehicles
3 years
Computer equipment
25% straight line
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SL Transport Logistics Ltd Notes to the Accounts for the year ended 31 July 2023
2.4 Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
2.5 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 balance sheet when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors 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. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
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SL Transport Logistics Ltd Notes to the Accounts for the year ended 31 July 2023
2.6 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.
2.7 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.
2.8 Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2.9 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 fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee?s services are received.
2.10 Retirement benefits
The company operates an approved self-administered pension scheme on behalf of its directors. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions are governed only to the extent that there is a maximum contribution annually in relation to the members' salaries, there is no minimum contribution requirement.
2.11 Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
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SL Transport Logistics Ltd Notes to the Accounts for the year ended 31 July 2023
2.12 Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
45,252 
176,332 
6,934 
228,518 
Additions
- 
25,982 
- 
25,982 
Disposals
- 
479 
- 
479 
At 31 July 2023
45,252 
202,793 
6,934 
254,979 
Depreciation
At 1 August 2022
30,260 
112,617 
3,104 
145,981 
Charge for the year
4,846 
31,980 
1,643 
38,469 
At 31 July 2023
35,106 
144,597 
4,747 
184,450 
Net book value
At 31 July 2023
10,146 
58,196 
2,187 
70,529 
At 31 July 2022
14,992 
63,715 
3,830 
82,537 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
538,762 
666,278 
Accrued income and prepayments
57,000 
- 
595,762 
666,278 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,400 
10,000 
VAT
59,870 
24,103 
Obligations under finance leases and hire purchase contracts
27,276 
43,884 
Trade creditors
518,993 
617,223 
Taxes and social security
31,931 
38,871 
Other creditors
8,679 
322 
Loans from directors
247 
695 
Accruals
- 
84,773 
652,396 
819,871 
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SL Transport Logistics Ltd Notes to the Accounts for the year ended 31 July 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
26,943 
28,126 
Obligations under finance leases and hire purchase contracts
17,918 
22,992 
44,861 
51,118 
8
Average number of employees
During the year the average number of employees was 7 (2022: 2).
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