SLRC TRADING LIMITED
Company registration number 06019863 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SLRC TRADING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SLRC TRADING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
228,543
177,439
Current assets
Debtors
4
318,808
589,137
Cash at bank and in hand
68,971
42,473
387,779
631,610
Creditors: amounts falling due within one year
5
(398,057)
(518,037)
Net current (liabilities)/assets
(10,278)
113,573
Total assets less current liabilities
218,265
291,012
Creditors: amounts falling due after more than one year
6
(85,480)
(182,310)
Provisions for liabilities
(10,520)
(6,099)
Net assets
122,265
102,603
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
122,165
102,503
Total equity
122,265
102,603
SLRC TRADING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 October 2024 and are signed on its behalf by:
Mr D T E Ritchie
Director
Company registration number 06019863 (England and Wales)
SLRC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

SLRC Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is Willow Lodge, Tilstock Crescent, Shrewsbury, Shropshire, SY2 6HW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
10% straight line
Leasehold improvements
10% straight line
Fixtures, fittings & equipment
20% straight line
Computer equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SLRC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

SLRC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
16
19
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
166,083
45,623
211,706
Additions
68,745
9,448
78,193
At 31 March 2024
234,828
55,071
289,899
Depreciation and impairment
At 1 April 2023
13,039
21,228
34,267
Depreciation charged in the year
16,089
11,000
27,089
At 31 March 2024
29,128
32,228
61,356
Carrying amount
At 31 March 2024
205,700
22,843
228,543
At 31 March 2023
153,044
24,395
177,439
SLRC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39,421
129,578
Amounts owed by group undertakings
273,789
423,776
Other debtors
5,598
35,783
318,808
589,137
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
133,829
136,736
Trade creditors
7,929
10,581
Amounts owed to group undertakings
-
0
115,747
Taxation and social security
71,529
54,383
Other creditors
184,770
200,590
398,057
518,037

Included in creditors due within one year is a loan of £72,868 (2023 : £84,906) is outstanding and is subject to a UK Government guarantee. This facility is provided through the Coronavirus Business Interruption Loan Scheme (CBILS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy, The CBILS guarantee is provided to the lender.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
85,480
182,310

Included in creditors due after one year is a loan of £47,041 (2023 : £96,819) is outstanding and is subject to a UK Government guarantee. This facility is provided through the Coronavirus Business Interruption Loan Scheme (CBILS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy, The CBILS guarantee is provided to the lender.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
51
51
51
51
Ordinary B shares of £1 each
49
49
49
49
100
100
100
100
SLRC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
7
Called up share capital
(Continued)
- 7 -

Both classes of share have the same rights and restrictions.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
17,644
10,699
2024-03-312023-04-01false02 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMrs S L RitchieMr D T E RitchieMr D T E Ritchiefalsefalse060198632023-04-012024-03-31060198632024-03-31060198632023-03-3106019863core:LandBuildings2024-03-3106019863core:OtherPropertyPlantEquipment2024-03-3106019863core:LandBuildings2023-03-3106019863core:OtherPropertyPlantEquipment2023-03-3106019863core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3106019863core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3106019863core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3106019863core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3106019863core:CurrentFinancialInstruments2024-03-3106019863core:CurrentFinancialInstruments2023-03-3106019863core:ShareCapital2024-03-3106019863core:ShareCapital2023-03-3106019863core:RetainedEarningsAccumulatedLosses2024-03-3106019863core:RetainedEarningsAccumulatedLosses2023-03-3106019863core:ShareCapitalOrdinaryShares2024-03-3106019863core:ShareCapitalOrdinaryShares2023-03-3106019863bus:CompanySecretaryDirector12023-04-012024-03-3106019863core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3106019863core:LeaseholdImprovements2023-04-012024-03-3106019863core:FurnitureFittings2023-04-012024-03-3106019863core:ComputerEquipment2023-04-012024-03-31060198632022-04-012023-03-3106019863core:LandBuildings2023-03-3106019863core:OtherPropertyPlantEquipment2023-03-31060198632023-03-3106019863core:LandBuildings2023-04-012024-03-3106019863core:OtherPropertyPlantEquipment2023-04-012024-03-3106019863core:WithinOneYear2024-03-3106019863core:WithinOneYear2023-03-3106019863core:Non-currentFinancialInstruments2024-03-3106019863core:Non-currentFinancialInstruments2023-03-3106019863bus:PrivateLimitedCompanyLtd2023-04-012024-03-3106019863bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106019863bus:FRS1022023-04-012024-03-3106019863bus:AuditExemptWithAccountantsReport2023-04-012024-03-3106019863bus:Director12023-04-012024-03-3106019863bus:Director22023-04-012024-03-3106019863bus:CompanySecretary12023-04-012024-03-3106019863bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP