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REGISTERED NUMBER: 07111538 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Slater Financial Ltd

Slater Financial Ltd (Registered number: 07111538)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Slater Financial Ltd

Company Information
for the year ended 31 March 2024







DIRECTOR: Mr P A Slater





REGISTERED OFFICE: 9-10 St. Annes Square
Buxton
Derbyshire
SK17 6EA





REGISTERED NUMBER: 07111538 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL

Slater Financial Ltd (Registered number: 07111538)

Balance Sheet
31 March 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 69,407 94,179
69,407 94,179

CURRENT ASSETS
Debtors 6 200,476 87,384
Cash at bank 80,461 142,369
280,937 229,753
CREDITORS
Amounts falling due within one year 7 (185,731 ) (134,221 )
NET CURRENT ASSETS 95,206 95,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,613

189,711

CREDITORS
Amounts falling due after more than one year 8 (80,460 ) (103,693 )

PROVISIONS FOR LIABILITIES (17,352 ) (17,000 )
NET ASSETS 66,801 69,018

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 66,701 68,918
66,801 69,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 September 2024 and were signed by:





Mr P A Slater - Director


Slater Financial Ltd (Registered number: 07111538)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Slater Financial Ltd 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.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Slater Financial Ltd (Registered number: 07111538)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 41,824
AMORTISATION
At 1 April 2023
and 31 March 2024 41,824
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 April 2023 39,862 112,080 151,942
Additions 330 - 330
At 31 March 2024 40,192 112,080 152,272
DEPRECIATION
At 1 April 2023 35,347 22,416 57,763
Charge for year 2,686 22,416 25,102
At 31 March 2024 38,033 44,832 82,865
NET BOOK VALUE
At 31 March 2024 2,159 67,248 69,407
At 31 March 2023 4,515 89,664 94,179

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 April 2023
and 31 March 2024 112,080
DEPRECIATION
At 1 April 2023 22,416
Charge for year 22,416
At 31 March 2024 44,832
NET BOOK VALUE
At 31 March 2024 67,248
At 31 March 2023 89,664

Slater Financial Ltd (Registered number: 07111538)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors consists of a loan to Slater Professional Services Limited (10873931) for £33,425 (2023 - £25,901), a company under common control.
This loan is unsecured and repayable at any time.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,156 9,951
Hire purchase contracts 13,725 10,814
Taxation and social security 156,970 108,306
Other creditors 4,880 5,150
185,731 134,221

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 12,256 22,411
Hire purchase contracts 68,204 81,282
80,460 103,693