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Registered number: 09340043
Slitherin Reptiles Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09340043
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,426 26,280
16,426 26,280
CURRENT ASSETS
Stocks 5 75,000 80,000
Debtors 6 24,363 12,812
Cash at bank and in hand 176,120 181,668
275,483 274,480
Creditors: Amounts Falling Due Within One Year 7 (76,626 ) (140,180 )
NET CURRENT ASSETS (LIABILITIES) 198,857 134,300
TOTAL ASSETS LESS CURRENT LIABILITIES 215,283 160,580
NET ASSETS 215,283 160,580
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 215,282 160,579
SHAREHOLDERS' FUNDS 215,283 160,580
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B J Greatorex
Director
6 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Slitherin Reptiles Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09340043 . The registered office is The Springboard Business Centre, Mantle Lane, Coalville, Leicestershire, LE67 3DW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight-line
Fixtures & Fittings 25% straight-line
Computer Equipment 33.3% straight-line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 2,403 18,451 13,931 34,785
As at 31 March 2024 2,403 18,451 13,931 34,785
Depreciation
As at 1 April 2023 1,081 1,659 5,765 8,505
Provided during the period 601 4,614 4,639 9,854
As at 31 March 2024 1,682 6,273 10,404 18,359
Net Book Value
As at 31 March 2024 721 12,178 3,527 16,426
As at 1 April 2023 1,322 16,792 8,166 26,280
5. Stocks
2024 2023
£ £
Stock 75,000 80,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,713 10,700
Prepayments and accrued income 390 1,852
Other debtors 260 260
24,363 12,812
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,286 42,380
Corporation tax 31,795 15,704
Other taxes and social security 213 125
VAT 15,116 50,479
Other creditors 6,056 8,482
Accruals and deferred income 950 750
Director's loan account 16,210 22,260
76,626 140,180
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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