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REGISTERED NUMBER: 08488995 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

UK SLATE LIMITED

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


UK SLATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: K Robley





REGISTERED OFFICE: Units 15 & 16 Airfield Approach Bus Park
Flookburgh
Grange over Sands
Cumbria
LA11 7NG





REGISTERED NUMBER: 08488995 (England and Wales)





ACCOUNTANTS: R F Miller & Co
Double Tree Court
10A Cavendish St
Ulverston
Cumbria
LA12 7AD

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
UK SLATE LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.

You have acknowledged on the balance sheet as at 30 June 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






R F Miller & Co
Double Tree Court
10A Cavendish St
Ulverston
Cumbria
LA12 7AD


19 August 2024

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,649 5,294
Tangible assets 5 57,651 63,955
62,300 69,249

CURRENT ASSETS
Stocks 1,398,644 1,325,419
Debtors 6 1,553,488 1,699,579
Cash at bank and in hand 826,598 525,269
3,778,730 3,550,267
CREDITORS
Amounts falling due within one year 7 1,431,193 1,300,360
NET CURRENT ASSETS 2,347,537 2,249,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,409,837

2,319,156

PROVISIONS FOR LIABILITIES 1,973 15,958
NET ASSETS 2,407,864 2,303,198

CAPITAL AND RESERVES
Called up share capital 8 203 203
Retained earnings 9 2,407,661 2,302,995
SHAREHOLDERS' FUNDS 2,407,864 2,303,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

BALANCE SHEET - continued
30 JUNE 2024


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 director and authorised for issue on 19 August 2024 and were signed by:





K Robley - Director


UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

UK Slate 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs is being amortised evenly over its estimated useful life of ten years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 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.

Stocks and work in progress are stated at the lower of cost and estimated costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

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.


UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

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 8 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 July 2023 321,000 6,450 327,450
Disposals (321,000 ) - (321,000 )
At 30 June 2024 - 6,450 6,450
AMORTISATION
At 1 July 2023 321,000 1,156 322,156
Charge for year - 645 645
Eliminated on disposal (321,000 ) - (321,000 )
At 30 June 2024 - 1,801 1,801
NET BOOK VALUE
At 30 June 2024 - 4,649 4,649
At 30 June 2023 - 5,294 5,294

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 35,952 70,312 106,264
Additions 2,475 34,000 36,475
Disposals - (39,500 ) (39,500 )
At 30 June 2024 38,427 64,812 103,239
DEPRECIATION
At 1 July 2023 27,373 14,936 42,309
Charge for year 2,084 12,922 15,006
Eliminated on disposal - (11,727 ) (11,727 )
At 30 June 2024 29,457 16,131 45,588
NET BOOK VALUE
At 30 June 2024 8,970 48,681 57,651
At 30 June 2023 8,579 55,376 63,955

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,558,927 1,706,482
Provision for bad debts (11,630 ) (9,427 )
Directors' current accounts - 155
Prepayments and accrued income 6,191 2,369
1,553,488 1,699,579

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,099,550 773,168
Corporation tax 61,645 200,666
Social security and other taxes 2,608 1,344
VAT 234,684 276,348
Accruals and deferred income 32,706 48,834
1,431,193 1,300,360

UK SLATE LIMITED (REGISTERED NUMBER: 08488995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
102 Ordinary A £1 102 102
99 Ordinary B £1 99 99
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
203 203

9. RESERVES
Retained
earnings
£   

At 1 July 2023 2,302,995
Profit for the year 175,501
Dividends (70,835 )
At 30 June 2024 2,407,661

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within debtors amounts falling due within one year is a balance due by the director of £nil (2023: £155). The maximum overdrawn balance during the current and previous year was £155.

11. RELATED PARTY DISCLOSURES

During the year the company paid dividends to the director of £51,822 (2023: £20,490).

A dividend was paid during the year to the parent company, Slate Group Limited, totalling £nil (2023 - £1,130,524 which included a dividend in specie for transfer of assets to the parent).

During the year a management charge of £nil (2023 - £17,688) was incurred by the company in respect of services provided by United Slates Limited to source products for resale. United Slates Limited is owned by the shareholders Mr M & Mrs J M Nicholson who are shareholders Slate Group Limited, the parent company.

During the year a management charge of £1,113,530 (2023 - £130,398) was incurred by the company in respect of services provided by its parent Slate Group Limited for provision of management services.