Registered number
04056472
Slad Brook Limited
Filleted Accounts
31 December 2023
Slad Brook Limited
Registered number: 04056472
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 983,330 983,816
Investments 4 625,000 625,000
1,608,330 1,608,816
Current assets
Debtors 5 8,227 6,493
Cash at bank and in hand 3,348 16,136
11,575 22,629
Creditors: amounts falling due within one year 6 (57,511) (46,617)
Net current liabilities (45,936) (23,988)
Total assets less current liabilities 1,562,394 1,584,828
Creditors: amounts falling due after more than one year 7 (556,284) (580,353)
Provisions for liabilities (71,809) (71,809)
Net assets 934,301 932,666
Capital and reserves
Called up share capital 2 2
Profit and loss account 934,299 932,664
Shareholders' funds 934,301 932,666
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr Paul Jackson
Director
Approved by the board on 4 July 2024
Slad Brook Limited
Notes to the Accounts
for the year ended 31 December 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:
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 982,371 3,150 985,521
At 31 December 2023 982,371 3,150 985,521
Depreciation
At 1 January 2023 - 1,705 1,705
Charge for the year - 486 486
At 31 December 2023 - 2,191 2,191
Net book value
At 31 December 2023 982,371 959 983,330
At 31 December 2022 982,371 1,445 983,816
4 Investments
Other
investments
£
Cost
At 1 January 2023 625,000
At 31 December 2023 625,000
5 Debtors 2023 2022
£ £
Trade debtors 3,339 1,605
Other debtors 4,888 4,888
8,227 6,493
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 34,533 42,110
Trade creditors 283 627
Accrued expenses 22,630 -
Taxation and social security costs 65 2,445
Other creditors - 1,435
57,511 46,617
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 92,232 190,563
Directors' loan account 280,044 237,064
Other creditors 184,008 152,726
556,284 580,353
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 126,765 232,673
Loans of £126,765 (2022: £232,673) are secured against the property held by the company.
9 Related party transactions
Within other creditors there is a balance of £181,678 (2022: £150,526) due to Connected Leadership Limited, a company registered in England & Wales. The Directors of the company are also the directors of Connected Leadership Limited.
10 Other information
Slad Brook Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Barn, Stroud Slad Farm
The Vatch
Stroud
Gloucestershire
GL6 7LE
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