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COMPANY REGISTRATION NUMBER: 05953125
SLM CONTRACTORS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 October 2023
SLM CONTRACTORS LIMITED
STATEMENT OF FINANCIAL POSITION
30 October 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Debtors
5
70,649
97,807
Cash at bank and in hand
12,649
3,122
--------
---------
83,298
100,929
CREDITORS: amounts falling due within one year
6
87,686
73,063
--------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 4,388)
27,866
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 4,388)
27,866
CREDITORS: amounts falling due after more than one year
7
13,417
20,417
--------
--------
NET (LIABILITIES)/ASSETS
( 17,805)
7,449
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
2
2
Profit and loss account
( 17,807)
7,447
--------
-------
SHAREHOLDERS (DEFICIT)/FUNDS
( 17,805)
7,449
--------
-------
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 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SLM CONTRACTORS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 October 2023
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr S L Mason Director
Company registration number: 05953125
SLM CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 OCTOBER 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 9 East Avenue, Burton Latimer, Kettering, Northamptonshire, NN15 5PF.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the director and creditors. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
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. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. DEBTORS
2023
2022
£
£
Trade debtors
19,525
48,206
Other debtors
51,124
49,601
--------
--------
70,649
97,807
--------
--------
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,000
7,000
Trade creditors
58,564
50,744
Corporation tax
6,774
Social security and other taxes
9,581
1,548
Other creditors
12,541
6,997
--------
--------
87,686
73,063
--------
--------
7. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
13,417
20,417
--------
--------
8. RELATED PARTY TRANSACTIONS
During the period the company undertook the following transactions with related parties: The director has advanced monies to the company. At 2023 the amount due from the company was £6,110 (2022 - £325).
9. GOING CONCERN
The director has considered the period to 31 July 2025 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.