Company Registration No. 10078633 (England and Wales)
SLADES (CHRISTCHURCH) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
SLADES (CHRISTCHURCH) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SLADES (CHRISTCHURCH) LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,033
4,239
Investments
4
6,343
5,033
10,582
Current assets
Debtors
5
97,164
48,806
Cash at bank and in hand
77,476
189,356
174,640
238,162
Creditors: amounts falling due within one year
6
(97,513)
(125,043)
Net current assets
77,127
113,119
Total assets less current liabilities
82,160
123,701
Provisions for liabilities
(1,258)
(2,140)
Net assets
80,902
121,561
Capital and reserves
Called up share capital
100
100
Share premium account
4,685
4,685
Profit and loss reserves
76,117
116,776
Total equity
80,902
121,561
SLADES (CHRISTCHURCH) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
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 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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 October 2024 and are signed on its behalf by:
Mr D Slade FRICS
Mr M R Tarpey
Director
Director
Company Registration No. 10078633
The notes on pages 3 to 6 form part of these financial statements
SLADES (CHRISTCHURCH) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Slades (Christchurch) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 10 Bridge Street, Christchurch, Dorset, BH23 1EF.
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 comany. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
The turnover shown in the profit and loss account represents amounts receivable for the year, exclusive of Value Added Tax, in connection with the operation of an estate agent.
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:
Fixtures, fittings and equipment
15% on reducing balance
Computers
33% on cost
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
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.
1.5
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.
SLADES (CHRISTCHURCH) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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.
1.7
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 agianst the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not rcognised 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 not the accounting profit.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
6
SLADES (CHRISTCHURCH) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Fixtures, fittings and equipment
Computers
Total
£
£
£
Cost
At 1 April 2023
8,062
6,211
14,273
Additions
755
1,146
1,901
At 31 March 2024
8,817
7,357
16,174
Depreciation and impairment
At 1 April 2023
5,430
4,604
10,034
Depreciation charged in the year
508
599
1,107
At 31 March 2024
5,938
5,203
11,141
Carrying amount
At 31 March 2024
2,879
2,154
5,033
At 31 March 2023
2,632
1,607
4,239
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
6,343
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2023
6,343
Disposals
(6,343)
At 31 March 2024
-
Carrying amount
At 31 March 2024
-
At 31 March 2023
6,343
SLADES (CHRISTCHURCH) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
72,312
29,340
Other debtors
24,852
19,466
97,164
48,806
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,058
42,483
Taxation and social security
73,341
67,967
Other creditors
13,114
14,593
97,513
125,043