Silverfin false false 30/04/2024 01/05/2023 30/04/2024 M P Belcher 04/07/2022 P M Belcher 18/10/2024 B M Belcher 10/08/1994 Peter Roy Mclean 18/10/2024 23 January 2025 The principal activity of the company is that of servicing and repairing motor vehicles. 00497897 2024-04-30 00497897 bus:Director1 2024-04-30 00497897 bus:Director2 2024-04-30 00497897 bus:Director3 2024-04-30 00497897 bus:Director4 2024-04-30 00497897 2023-04-30 00497897 core:CurrentFinancialInstruments 2024-04-30 00497897 core:CurrentFinancialInstruments 2023-04-30 00497897 core:ShareCapital 2024-04-30 00497897 core:ShareCapital 2023-04-30 00497897 core:RetainedEarningsAccumulatedLosses 2024-04-30 00497897 core:RetainedEarningsAccumulatedLosses 2023-04-30 00497897 core:PlantMachinery 2023-04-30 00497897 core:Vehicles 2023-04-30 00497897 core:FurnitureFittings 2023-04-30 00497897 core:PlantMachinery 2024-04-30 00497897 core:Vehicles 2024-04-30 00497897 core:FurnitureFittings 2024-04-30 00497897 bus:OrdinaryShareClass1 2024-04-30 00497897 2023-05-01 2024-04-30 00497897 bus:FilletedAccounts 2023-05-01 2024-04-30 00497897 bus:SmallEntities 2023-05-01 2024-04-30 00497897 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 00497897 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 00497897 bus:Director1 2023-05-01 2024-04-30 00497897 bus:Director2 2023-05-01 2024-04-30 00497897 bus:Director3 2023-05-01 2024-04-30 00497897 bus:Director4 2023-05-01 2024-04-30 00497897 core:PlantMachinery 2023-05-01 2024-04-30 00497897 core:Vehicles 2023-05-01 2024-04-30 00497897 core:FurnitureFittings 2023-05-01 2024-04-30 00497897 2022-05-01 2023-04-30 00497897 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 00497897 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00497897 (England and Wales)

SLADE & SONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

SLADE & SONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

SLADE & SONS LIMITED

BALANCE SHEET

As at 30 April 2024
SLADE & SONS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,134 4,865
4,134 4,865
Current assets
Stocks 3,000 3,000
Debtors 4 21,340 16,657
Cash at bank and in hand 3,547 30,781
27,887 50,438
Creditors: amounts falling due within one year 5 ( 96,711) ( 86,436)
Net current liabilities (68,824) (35,998)
Total assets less current liabilities (64,690) (31,133)
Net liabilities ( 64,690) ( 31,133)
Capital and reserves
Called-up share capital 6 11,300 11,300
Profit and loss account ( 75,990 ) ( 42,433 )
Total shareholders' deficit ( 64,690) ( 31,133)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Slade & Sons Limited (registered number: 00497897) were approved and authorised for issue by the Board of Directors on 23 January 2025. They were signed on its behalf by:

M P Belcher
Director
SLADE & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
SLADE & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Slade & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 21 Marsh Green Road North, Marsh Barton Trading Estate, Exeter, EX2 8NY, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £64,690. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2023 30,689 3,000 4,863 38,552
At 30 April 2024 30,689 3,000 4,863 38,552
Accumulated depreciation
At 01 May 2023 26,451 2,999 4,237 33,687
Charge for the financial year 636 0 95 731
At 30 April 2024 27,087 2,999 4,332 34,418
Net book value
At 30 April 2024 3,602 1 531 4,134
At 30 April 2023 4,238 1 626 4,865

4. Debtors

2024 2023
£ £
Trade debtors 8,075 3,442
Prepayments 13,265 13,215
21,340 16,657

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 20,412 15,731
Amounts owed to Group undertakings 4,445 4,445
Amounts owed to directors 56,042 58,870
Accruals 9,692 2,100
Other taxation and social security 4,183 1,777
Other creditors 1,937 3,513
96,711 86,436

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
11,300 Ordinary shares of £ 1.00 each (2023: - shares of £ 1.00 each) 11,300 11,300