Registered number
08735052
Sloane Demolition and Dismantling Limited
Filleted Accounts
31 October 2023
Hagans Accounting & Finance Limited
Chartered Certified Accountants
4 Fir Tree Grove
Carshalton Beeches
Surrey
SM5 4NG
Sloane Demolition and Dismantling Limited
Registered number: 08735052
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,420 34,754
Current assets
Work in progress - 47,924
Debtors 4 29,537 69,464
Cash at bank and in hand 635,510 625,807
665,047 743,195
Creditors: amounts falling due within one year 5 (5,668) (19,385)
Net current assets 659,379 723,810
Total assets less current liabilities 661,799 758,564
Provisions for liabilities (459) (1,381)
Net assets 661,340 757,183
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 660,340 756,183
Shareholder's funds 661,340 757,183
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Derek Feely
Director
Approved by the board on 30 July 2024
Sloane Demolition and Dismantling Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 10 - 25% reducing balance
Furniture & office equipment Straight line over 3 - 5 years
Work in progress
The company carries forward as work in progress the value of any work completed at the year end date, but not yet invoiced, plus any known associated profit (which is calculated from known future committed income less known future committed costs). Profit allocation between the years is driven by the percentage of costs incurred in the year.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 15,266 70,000 85,266
Additions 2,749 26,640 29,389
Disposals - (96,640) (96,640)
At 31 October 2023 18,015 - 18,015
Depreciation
At 1 November 2022 13,735 36,777 50,512
Charge for the year 1,860 4,714 6,574
On disposals - (41,491) (41,491)
At 31 October 2023 15,595 - 15,595
Net book value
At 31 October 2023 2,420 - 2,420
At 31 October 2022 1,531 33,223 34,754
4 Debtors 2023 2022
£ £
Trade debtors 26,400 13,909
Other debtors 3,137 55,555
29,537 69,464
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 80 9,096
Taxation and social security costs 3,844 (4,853)
Other creditors 1,744 15,142
5,668 19,385
6 Other information
Sloane Demolition and Dismantling Limited is a private company limited by shares and incorporated in England. Its registered office is:
81 Portsmouth Road
Surbiton
Surrey
KT6 5PT
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