IRIS Accounts Production v23.3.1.45 05806987 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058069872022-05-31058069872023-05-31058069872022-06-012023-05-31058069872021-05-31058069872021-06-012022-05-31058069872022-05-3105806987ns10:Originalns15:EnglandWales2022-06-012023-05-3105806987ns14:PoundSterlingns10:Original2022-06-012023-05-3105806987ns10:Originalns10:Director12022-06-012023-05-3105806987ns10:Original2022-06-012023-05-3105806987ns10:Original2023-05-3105806987ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3105806987ns10:Originalns10:SmallEntities2022-06-012023-05-3105806987ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3105806987ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3105806987ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3105806987ns10:Originalns10:FullAccounts2022-06-012023-05-3105806987ns10:Original12022-06-012023-05-3105806987ns10:Originalns10:Director22022-06-012023-05-3105806987ns10:CompanySecretary1ns10:Original2022-06-012023-05-3105806987ns10:Originalns10:RegisteredOffice2022-06-012023-05-3105806987ns10:Original2022-05-3105806987ns10:Originalns5:CurrentFinancialInstruments2023-05-3105806987ns10:Originalns5:CurrentFinancialInstruments2022-05-3105806987ns10:Originalns5:Non-currentFinancialInstruments2023-05-3105806987ns10:Originalns5:Non-currentFinancialInstruments2022-05-3105806987ns5:ShareCapitalns10:Original2023-05-3105806987ns5:ShareCapitalns10:Original2022-05-3105806987ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3105806987ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3105806987ns10:Originalns5:NetGoodwill2022-06-012023-05-3105806987ns10:Original2021-06-012022-05-3105806987ns10:Originalns5:NetGoodwill2022-05-3105806987ns10:Originalns5:NetGoodwill2023-05-3105806987ns10:Originalns5:NetGoodwill2022-05-3105806987ns10:Originalns5:FurnitureFittings2022-05-3105806987ns10:Originalns5:MotorVehicles2022-05-3105806987ns10:Original2022-05-3105806987ns10:Originalns5:FurnitureFittings2022-06-012023-05-3105806987ns10:Originalns5:MotorVehicles2022-06-012023-05-3105806987ns10:Originalns5:FurnitureFittings2023-05-3105806987ns10:Originalns5:MotorVehicles2023-05-3105806987ns10:Originalns5:FurnitureFittings2022-05-3105806987ns10:Originalns5:MotorVehicles2022-05-3105806987ns10:Originalns5:CostValuation2022-05-3105806987ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3105806987ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3105806987ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-3105806987ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-05-31
REGISTERED NUMBER: 05806987 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SLM AGENCY LTD

SLM AGENCY LTD (REGISTERED NUMBER: 05806987)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SLM AGENCY LTD

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: Sam Wilkinson
Steve Wilkinson





SECRETARY: Steve Wilkinson





REGISTERED OFFICE: 69 Clifton Street
Lytham St. Annes
Lancashire
FY8 5ER





REGISTERED NUMBER: 05806987 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

SLM AGENCY LTD (REGISTERED NUMBER: 05806987)

STATEMENT OF FINANCIAL POSITION
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 103,775 92,142
Investments 6 7,549 7,549
111,324 99,691

CURRENT ASSETS
Stocks 995 995
Debtors 7 545,788 302,839
Cash at bank and in hand 181,711 312,449
728,494 616,283
CREDITORS
Amounts falling due within one year 8 383,213 269,431
NET CURRENT ASSETS 345,281 346,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

456,605

446,543

CREDITORS
Amounts falling due after more than one
year

9

78,371

77,686
NET ASSETS 378,234 368,857

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 378,134 368,757
SHAREHOLDERS' FUNDS 378,234 368,857

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SLM AGENCY LTD (REGISTERED NUMBER: 05806987)

STATEMENT OF FINANCIAL POSITION - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:





Steve Wilkinson - Director


SLM AGENCY LTD (REGISTERED NUMBER: 05806987)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Slm Agency Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the net invoice value of goods sold and services provided, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011 is stated at cost net of amortisation and any impairments. Goodwill is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are included at cost or valuation less depreciation and any impairment.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings-20% on cost
Motor vehicles-25% on reducing balance

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Short term financial assets, including trade and other debtors and cash and bank balances, are measured at the transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be measured at the undiscounted amount due.

Short term financial liabilities, including trade and other creditors, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.


SLM AGENCY LTD (REGISTERED NUMBER: 05806987)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the company. All other leases are classified as operating leases.

Assets held under finance leases are recognised initially at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged to the profit or loss on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Fixed asset investments are initially stated at cost and subsequently remeasured at fair value each period end, with any gains/losses arising being recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 190,000
AMORTISATION
At 1 June 2022
and 31 May 2023 190,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

SLM AGENCY LTD (REGISTERED NUMBER: 05806987)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2022 46,979 114,960 161,939
Additions 11,967 30,750 42,717
At 31 May 2023 58,946 145,710 204,656
DEPRECIATION
At 1 June 2022 31,096 38,701 69,797
Charge for year 6,043 25,041 31,084
At 31 May 2023 37,139 63,742 100,881
NET BOOK VALUE
At 31 May 2023 21,807 81,968 103,775
At 31 May 2022 15,883 76,259 92,142


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 June 2022
and 31 May 2023 7,549
NET BOOK VALUE
At 31 May 2023 7,549
At 31 May 2022 7,549

Cost or valuation at 31 May 2023 is represented by:

Other
investments
£   
Valuation in 2022 (3,451 )
Cost 11,000
7,549

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 109,459 63,022
Amounts owed by related parties 421,479 208,540
Other debtors - 25,000
Prepayments 14,850 6,277
545,788 302,839

SLM AGENCY LTD (REGISTERED NUMBER: 05806987)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 17,464 12,864
Trade creditors 235,633 93,740
Tax 44,083 47,897
Social security and other taxes 3,729 4,219
Other creditors 2,493 2,580
Directors' current accounts 1,977 13,351
Deferred income 24,560 19,053
Accrued expenses 43,274 65,727
383,213 269,431

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,567 32,567
Hire purchase contracts 55,804 45,119
78,371 77,686

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 73,268 57,983

Hire purchase contracts are secured on the assets concerned.

11. OTHER FINANCIAL COMMITMENTS

The company has total operating lease commitments amounting to £25,000 (2022: £25,000).