IRIS Accounts Production v24.2.0.383 05926553 Board of Directors 1.1.23 31.12.23 31.12.23 4.6.24 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh059265532022-12-31059265532023-12-31059265532023-01-012023-12-31059265532021-12-31059265532022-01-012022-12-31059265532022-12-3105926553ns15:EnglandWales2023-01-012023-12-3105926553ns14:PoundSterling2023-01-012023-12-3105926553ns10:Director12023-01-012023-12-3105926553ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105926553ns10:SmallEntities2023-01-012023-12-3105926553ns10:Audited2023-01-012023-12-3105926553ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105926553ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105926553ns10:FullAccounts2023-01-012023-12-3105926553ns10:OrdinaryShareClass12023-01-012023-12-3105926553ns10:Director22023-01-012023-12-3105926553ns10:CompanySecretary12023-01-012023-12-3105926553ns10:RegisteredOffice2023-01-012023-12-3105926553ns5:CurrentFinancialInstruments2023-12-3105926553ns5:CurrentFinancialInstruments2022-12-3105926553ns5:ShareCapital2023-12-3105926553ns5:ShareCapital2022-12-3105926553ns5:RetainedEarningsAccumulatedLosses2023-12-3105926553ns5:RetainedEarningsAccumulatedLosses2022-12-3105926553ns5:LandBuildings2022-12-3105926553ns5:PlantMachinery2022-12-3105926553ns5:LandBuildings2023-01-012023-12-3105926553ns5:PlantMachinery2023-01-012023-12-3105926553ns5:LandBuildings2023-12-3105926553ns5:PlantMachinery2023-12-3105926553ns5:LandBuildings2022-12-3105926553ns5:PlantMachinery2022-12-3105926553ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105926553ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105926553ns5:Non-currentFinancialInstruments2023-12-3105926553ns5:Non-currentFinancialInstruments2022-12-3105926553ns5:WithinOneYear2023-12-3105926553ns5:WithinOneYear2022-12-3105926553ns5:BetweenOneFiveYears2023-12-3105926553ns5:BetweenOneFiveYears2022-12-3105926553ns5:AllPeriods2023-12-3105926553ns5:AllPeriods2022-12-3105926553ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 05926553 (England and Wales)











Slimstock Limited

Financial Statements

for the Year Ended 31 December 2023






Slimstock Limited (Registered number: 05926553)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Slimstock Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R J Evans
E H T Goris





SECRETARY: N J Dayman





REGISTERED OFFICE: Grosvenor House
Prospect Hill
Redditch
Worcestershire
B97 4DL





REGISTERED NUMBER: 05926553 (England and Wales)





AUDITORS: Haines Watts Tamworth Limited
Chartered Accountants and Statutory Auditors
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Slimstock Limited (Registered number: 05926553)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 155,256 69,327

CURRENT ASSETS
Debtors 5 1,072,337 1,598,067
Cash at bank 605,291 364,233
1,677,628 1,962,300
CREDITORS
Amounts falling due within one year 6 526,239 756,268
NET CURRENT ASSETS 1,151,389 1,206,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,306,645

1,275,359

CAPITAL AND RESERVES
Called up share capital 8 251,272 251,272
Retained earnings 1,055,373 1,024,087
SHAREHOLDERS' FUNDS 1,306,645 1,275,359

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 4 June 2024 and were signed on its behalf by:





R J Evans - Director


Slimstock Limited (Registered number: 05926553)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Slimstock 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

- A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

- Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

- Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

- Depreciation and residual values. Management have reviewed the asset lives and associated residual values of all fixed asset classes and concluded that they are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.

Slimstock Limited (Registered number: 05926553)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

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

Income is recognised on yearly licence renewal and project stage completions.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment20% reducing balance

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans to or from related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the Income Statement.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2022 - 37 ) .

Slimstock Limited (Registered number: 05926553)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 20,795 114,426 135,221
Additions - 123,250 123,250
Disposals (20,795 ) - (20,795 )
At 31 December 2023 - 237,676 237,676
DEPRECIATION
At 1 January 2023 - 65,894 65,894
Charge for year - 16,526 16,526
At 31 December 2023 - 82,420 82,420
NET BOOK VALUE
At 31 December 2023 - 155,256 155,256
At 31 December 2022 20,795 48,532 69,327

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 645,301 946,747
Amounts owed by group undertakings 46,326 234,442
Other debtors 63,213 201,473
754,840 1,382,662

Amounts falling due after more than one year:
Amounts owed by group undertakings 317,497 215,405

Aggregate amounts 1,072,337 1,598,067

Within amounts owed to group companies is an amount of £317,497 (2022 - £215,405) repayable within a maximum period of five years. The loan accrues interest monthly at a rate of 4%, payable annually.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 58,288 60,301
Amounts owed to group undertakings - 114,035
Taxation and social security 442,363 354,240
Other creditors 25,588 227,692
526,239 756,268

Slimstock Limited (Registered number: 05926553)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 107,144 11,583
Between one and five years 244,528 6,883
351,672 18,466

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
251,272 Ordinary £1 251,272 251,272

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Butler BA FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Tamworth Limited

10. ULTIMATE CONTROLLING PARTY

The immediate parent company is Syncron., a company registered in Sweden and the ultimate parent company is Slimstock Holding B.V., a company registered in The Netherlands. The group accounts of Slimstock Holding B.V. may be obtained from Slimstock Holding B.V., Zuthpenseweg 29 G1, 7418 AH Deventer - The Netherlands