Slade Properties (SW) Limited 08580007 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is property development and building works. Digita Accounts Production Advanced 6.30.9574.0 true 08580007 2023-01-01 2023-12-31 08580007 2023-12-31 08580007 core:RetainedEarningsAccumulatedLosses 2023-12-31 08580007 core:ShareCapital 2023-12-31 08580007 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 08580007 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 08580007 core:CurrentFinancialInstruments 2023-12-31 08580007 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08580007 core:Non-currentFinancialInstruments 2023-12-31 08580007 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08580007 core:MotorVehicles 2023-12-31 08580007 core:OtherPropertyPlantEquipment 2023-12-31 08580007 bus:SmallEntities 2023-01-01 2023-12-31 08580007 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08580007 bus:FullAccounts 2023-01-01 2023-12-31 08580007 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08580007 bus:RegisteredOffice 2023-01-01 2023-12-31 08580007 bus:Director1 2023-01-01 2023-12-31 08580007 bus:Director2 2023-01-01 2023-12-31 08580007 bus:Director3 2023-01-01 2023-12-31 08580007 bus:Director4 2023-01-01 2023-12-31 08580007 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08580007 core:MotorVehicles 2023-01-01 2023-12-31 08580007 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 08580007 core:PlantMachinery 2023-01-01 2023-12-31 08580007 countries:EnglandWales 2023-01-01 2023-12-31 08580007 2022-12-31 08580007 core:MotorVehicles 2022-12-31 08580007 core:OtherPropertyPlantEquipment 2022-12-31 08580007 2022-01-01 2022-12-31 08580007 2022-12-31 08580007 core:RetainedEarningsAccumulatedLosses 2022-12-31 08580007 core:ShareCapital 2022-12-31 08580007 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 08580007 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 08580007 core:CurrentFinancialInstruments 2022-12-31 08580007 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08580007 core:Non-currentFinancialInstruments 2022-12-31 08580007 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 08580007 core:MotorVehicles 2022-12-31 08580007 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 08580007

Slade Properties (SW) Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Slade Properties (SW) Limited
(Registration number: 08580007)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Slade Properties (SW) Limited
(Registration number: 08580007)

Company Information

Directors

S E Harcourt-Smith

N A Leach

R J A Leach

T Harcourt-Smith

Registered office

Slade Barton
Payhembury
Honiton
Devon
EX14 3HR

Accountants

Thompson Jenner LLP
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Slade Properties (SW) Limited
(Registration number: 08580007)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

14,949

20,225

Current assets

 

Debtors

5

15,103

6,206

Cash at bank and in hand

 

2,673

8,881

 

17,776

15,087

Creditors: Amounts falling due within one year

6

(16,754)

(15,592)

Net current assets/(liabilities)

 

1,022

(505)

Total assets less current liabilities

 

15,971

19,720

Creditors: Amounts falling due after more than one year

6

(9,100)

(7,131)

Provisions for liabilities

(2,841)

(3,843)

Net assets

 

4,030

8,746

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

3,830

8,546

Total equity

 

4,030

8,746

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Slade Properties (SW) Limited
(Registration number: 08580007)

Balance Sheet as at 31 December 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

.........................................
S E Harcourt-Smith
Director

 

Slade Properties (SW) Limited
(Registration number: 08580007)

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Slade Barton
Payhembury
Honiton
Devon
EX14 3HR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Slade Properties (SW) Limited
(Registration number: 08580007)

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Motor vehicle

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Slade Properties (SW) Limited
(Registration number: 08580007)

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Slade Properties (SW) Limited
(Registration number: 08580007)

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

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

33,593

6,472

40,065

Additions

-

149

149

At 31 December 2023

33,593

6,621

40,214

Depreciation

At 1 January 2023

14,697

5,143

19,840

Charge for the year

4,724

701

5,425

At 31 December 2023

19,421

5,844

25,265

Carrying amount

At 31 December 2023

14,172

777

14,949

At 31 December 2022

18,896

1,329

20,225

5

Debtors

2023
£

2022
£

Trade debtors

-

3,113

Other debtors

12,712

-

Prepayments and accrued income

2,391

3,093

Total current trade and other debtors

15,103

6,206

 

Slade Properties (SW) Limited
(Registration number: 08580007)

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

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

2,071

1,400

Taxation and social security

 

-

6,923

Other creditors

 

12,683

5,669

Accrued expenses

 

2,000

1,600

 

16,754

15,592

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £1,400 (2022 - £1,400).

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

9,100

7,131

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £2,100 (2022 - £3,500).

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

671

-

Hire purchase contracts

1,400

1,400

2,071

1,400

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

2,100

3,500

Other borrowings

7,000

3,631

9,100

7,131