5 false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 22,000 8,800 1,100 9,900 12,100 13,200 xbrli:pure xbrli:shares iso4217:GBP 08991768 2022-05-01 2023-04-30 08991768 2023-04-30 08991768 2022-04-30 08991768 2021-05-01 2022-04-30 08991768 2022-04-30 08991768 2021-04-30 08991768 core:NetGoodwill 2022-05-01 2023-04-30 08991768 core:FurnitureFittings 2022-05-01 2023-04-30 08991768 core:MotorVehicles 2022-05-01 2023-04-30 08991768 bus:Director1 2022-05-01 2023-04-30 08991768 bus:Director2 2022-05-01 2023-04-30 08991768 core:NetGoodwill 2022-04-30 08991768 core:NetGoodwill 2023-04-30 08991768 core:FurnitureFittings 2022-04-30 08991768 core:MotorVehicles 2022-04-30 08991768 core:FurnitureFittings 2023-04-30 08991768 core:MotorVehicles 2023-04-30 08991768 core:WithinOneYear 2023-04-30 08991768 core:WithinOneYear 2022-04-30 08991768 core:AfterOneYear 2023-04-30 08991768 core:AfterOneYear 2022-04-30 08991768 core:ShareCapital 2023-04-30 08991768 core:ShareCapital 2022-04-30 08991768 core:RetainedEarningsAccumulatedLosses 2023-04-30 08991768 core:RetainedEarningsAccumulatedLosses 2022-04-30 08991768 core:NetGoodwill 2022-04-30 08991768 core:FurnitureFittings 2022-04-30 08991768 core:MotorVehicles 2022-04-30 08991768 bus:Director1 2022-04-30 08991768 bus:Director1 2023-04-30 08991768 bus:Director2 2022-04-30 08991768 bus:Director2 2023-04-30 08991768 bus:Director1 2021-04-30 08991768 bus:Director1 2022-04-30 08991768 bus:Director2 2021-04-30 08991768 bus:Director2 2022-04-30 08991768 bus:Director1 2021-05-01 2022-04-30 08991768 bus:Director2 2021-05-01 2022-04-30 08991768 bus:SmallEntities 2022-05-01 2023-04-30 08991768 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 08991768 bus:FullAccounts 2022-05-01 2023-04-30 08991768 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 08991768 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30
COMPANY REGISTRATION NUMBER: 08991768
Slate of the Art Limited
Filleted Unaudited Financial Statements
30 April 2023
Slate of the Art Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
12,100
13,200
Tangible assets
6
16,318
20,873
------------
------------
28,418
34,073
Current assets
Stocks
11,000
11,000
Debtors
7
92,995
79,829
Cash at bank and in hand
2,021
14,348
------------
------------
106,016
105,177
Creditors: amounts falling due within one year
8
( 67,909)
( 63,018)
------------
------------
Net current assets
38,107
42,159
------------
------------
Total assets less current liabilities
66,525
76,232
Creditors: amounts falling due after more than one year
9
( 5,712)
( 9,833)
Provisions
Taxation including deferred tax
( 2,254)
( 2,254)
------------
------------
Net assets
58,559
64,145
------------
------------
Slate of the Art Limited
Statement of Financial Position (continued)
30 April 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
58,557
64,143
------------
------------
Shareholders funds
58,559
64,145
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 July 2023 , and are signed on behalf of the board by:
Mr D T Bell
Mr J Featherstone
Director
Director
Company registration number: 08991768
Slate of the Art Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18 Sunnyslack, Broughton Moor, Maryport, Cumbria, CA15 7RW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Amortisation of goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
22,000
------------
Amortisation
At 1 May 2022
8,800
Charge for the year
1,100
------------
At 30 April 2023
9,900
------------
Carrying amount
At 30 April 2023
12,100
------------
At 30 April 2022
13,200
------------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 May 2022
1,222
50,922
52,144
Additions
806
806
------------
------------
------------
At 30 April 2023
2,028
50,922
52,950
------------
------------
------------
Depreciation
At 1 May 2022
844
30,427
31,271
Charge for the year
237
5,124
5,361
------------
------------
------------
At 30 April 2023
1,081
35,551
36,632
------------
------------
------------
Carrying amount
At 30 April 2023
947
15,371
16,318
------------
------------
------------
At 30 April 2022
378
20,495
20,873
------------
------------
------------
7. Debtors
2023
2022
£
£
Trade debtors
37,718
38,969
Other debtors
55,277
40,860
------------
------------
92,995
79,829
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
17,868
Trade creditors
13,903
35,279
Corporation tax
30,305
20,033
Other creditors
5,833
7,706
------------
------------
67,909
63,018
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
5,712
9,833
------------
------------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr D T Bell
279
3,796
( 279)
3,796
Mr J Featherstone
278
3,797
( 278)
3,797
------------
------------
------------
------------
557
7,593
( 557)
7,593
------------
------------
------------
------------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr D T Bell
1,329
( 1,050)
279
Mr J Featherstone
1,328
( 1,050)
278
------------
------------
------------
------------
2,657
( 2,100)
557
------------
------------
------------
------------