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Logo On Report
Registered Number: 10427296
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 29 February 2024

for

SLOG & HUSTLE LTD

Directors Mark Partridge
James Grunberg
Registered Number 10427296
Registered Office 5 Great Colman Street
Ipswich
Suffolk
IP4 2AA
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
1
  2024   2023
    £ £   £ £
Fixed assets   9,729      10,173 
Current assets 54,032      50,170   
Prepayments and accrued income 313       
Creditors: amount falling due within one year (55,260)     (38,968)  
Net current assets   (915)     11,202 
Total assets less current liabilities   8,814      21,375 
Net assets   8,814      21,375 
 

         
Capital and reserves   8,814      21,375 
 
NOTES TO THE ACCOUNTS

General Information
Slog & Hustle Ltd is a private company, limited by shares, registered in England and Wales, registration number 10427296, registration address 5 Great Colman Street, Ipswich, Suffolk, IP4 2AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is well placed to recover from the challenges that COVID-19 has created.  They have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10% Reducing Balance
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 March 2023 17,217    17,217 
Additions 637    637 
Disposals  
At 29 February 2024 17,854    17,854 
Depreciation
At 01 March 2023 7,044    7,044 
Charge for year 1,081    1,081 
On disposals  
At 29 February 2024 8,125    8,125 
Net book values
Closing balance as at 29 February 2024 9,729    9,729 
Opening balance as at 01 March 2023 10,173    10,173 


3.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).

4.

Related parties

During the year the company entered into the following transactions with related parties:
Amount due from/to related party Provision for doubtful debt from the related party
2024
£
 2023
£
 2024
£
 2023
£
James Grunberg and Mark Partridge(41,927)(35,616)

At the year end the company owed the directors an amount on an interest free basis.

For the year ended 29 February 2024 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 accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 May 2024 and were signed on its behalf by:


--------------------------------
James Grunberg
Director
2