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REGISTERED NUMBER: 05624355 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SLUG RINGS LIMITED

SLUG RINGS LIMITED (REGISTERED NUMBER: 05624355)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4


SLUG RINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr C J Ord
Mrs R Walcot





REGISTERED OFFICE: 37 Rockliffe Avenue
Bath
Somerset
BA2 6QP





REGISTERED NUMBER: 05624355 (England and Wales)





ACCOUNTANTS: JRS Accountants Limited
584 Wellsway
Bath
Somerset
BA2 2UE

SLUG RINGS LIMITED (REGISTERED NUMBER: 05624355)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 NOVEMBER 2023


The directors present their report with the financial statements of the company for the year ended 30 November 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report.

Mr C J Ord
Mrs R Walcot

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs R Walcot - Director


23 August 2024

SLUG RINGS LIMITED (REGISTERED NUMBER: 05624355)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 370 494

CURRENT ASSETS
Stocks 40,965 18,868
Debtors 5 5,086 411
Cash at bank 11,383 37,412
57,434 56,691
CREDITORS
Amounts falling due within one year 6 (12,489 ) (17,582 )
NET CURRENT ASSETS 44,945 39,109
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,315

39,603

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 45,313 39,601
SHAREHOLDERS' FUNDS 45,315 39,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:




Mrs R Walcot - Director


SLUG RINGS LIMITED (REGISTERED NUMBER: 05624355)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Slug Rings Limited 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

SLUG RINGS LIMITED (REGISTERED NUMBER: 05624355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 December 2022
and 30 November 2023 1,389
DEPRECIATION
At 1 December 2022 895
Charge for year 124
At 30 November 2023 1,019
NET BOOK VALUE
At 30 November 2023 370
At 30 November 2022 494

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,221 411
VAT 2,865 -
5,086 411

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 1,603 4,716
Social security and other taxes 656 173
VAT - 190
Other creditors 800 658
Directors' loan accounts 8,480 10,895
Accrued expenses 950 950
12,489 17,582