SRL Asset Management Ltd |
Registered number: |
10126101 |
Balance Sheet |
as at 30 April 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Intangible assets |
4 |
|
|
8,508 |
|
|
7,773 |
Tangible assets |
5 |
|
|
66,066 |
|
|
19,995 |
|
|
|
|
74,574 |
|
|
27,768 |
|
Current assets |
Debtors |
6 |
|
405,039 |
|
|
377,837 |
Cash at bank and in hand |
|
|
11,735 |
|
|
3,939 |
|
|
|
416,774 |
|
|
381,776 |
|
Creditors: amounts falling due within one year |
7 |
|
(463,816) |
|
|
(318,751) |
|
Net current (liabilities)/assets |
|
|
|
(47,042) |
|
|
63,025 |
|
Total assets less current liabilities |
|
|
|
27,532 |
|
|
90,793 |
|
Creditors: amounts falling due after more than one year |
8 |
|
|
(11,611) |
|
|
(83,086) |
|
Provisions for liabilities |
|
|
|
(5,201) |
|
|
(6,640) |
|
Net assets |
|
|
|
10,720 |
|
|
1,067 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
10,620 |
|
|
967 |
|
Shareholders' funds |
|
|
|
10,720 |
|
|
1,067 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
Mr S R Lazenby |
Director |
Approved by the board on 31/01/2025. |
|
SRL Asset Management Ltd |
Notes to the Accounts |
for the year ended 30 April 2024 |
|
|
1 |
Statutory information |
|
|
SRL Asset Management Ltd is a private company, limited by shares, registered in England and Wales. |
|
|
The company's registered number and registered office address are as below: |
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|
Registered number: |
|
|
10126101 |
|
|
Registered office: |
|
|
Beech House |
|
|
|
|
78 Cleasby Road |
|
|
|
|
Menston |
|
|
|
|
Ilkley |
|
|
|
|
West Yorkshire |
|
|
|
|
LS29 6HN |
|
|
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1. |
|
|
2 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 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 as modified by the revaluation of certain assets. |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
2 |
Accounting policies (continued) |
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|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office equipment |
33.33% on a straight line basis |
|
Fixtures and fittings |
25% on a reducing balance basis |
|
Leasehold improvements |
over the lease term of 5 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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|
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
|
2 |
Accounting policies (continued) |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
3 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
17 |
|
15 |
|
|
|
|
|
|
|
|
|
|
4 |
Intangible fixed assets |
£ |
|
Cost |
|
At 1 May 2023 |
19,323 |
|
Additions |
5,750 |
|
At 30 April 2024 |
25,073 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 May 2023 |
11,550 |
|
Provided during the year |
5,015 |
|
At 30 April 2024 |
16,565 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2024 |
8,508 |
|
At 30 April 2023 |
7,773 |
|
|
|
|
|
|
|
|
|
|
Intangible assets are being written off in equal annual instalments over the estimated economic life of 5 years. |
|
|
5 |
Tangible fixed assets |
|
|
Leasehold improvements |
|
Office equipment |
|
Fixtures and fittings |
|
Total |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 May 2023 |
29,694 |
|
10,424 |
|
12,840 |
|
52,958 |
|
Additions |
59,128 |
|
2,089 |
|
- |
|
61,217 |
|
At 30 April 2024 |
88,822 |
|
12,513 |
|
12,840 |
|
114,175 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2023 |
16,457 |
|
7,514 |
|
8,992 |
|
32,963 |
|
Charge for the year |
12,342 |
|
1,842 |
|
962 |
|
15,146 |
|
At 30 April 2024 |
28,799 |
|
9,356 |
|
9,954 |
|
48,109 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2024 |
60,023 |
|
3,157 |
|
2,886 |
|
66,066 |
|
At 30 April 2023 |
13,237 |
|
2,910 |
|
3,848 |
|
19,995 |
|
|
6 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
37,729 |
|
26,013 |
|
Prepayments and accrued income |
|
260,160 |
|
244,660 |
|
Amounts due from related undertakings |
|
104,500 |
|
104,500 |
|
Other debtors |
2,650 |
|
2,664 |
|
|
|
|
|
|
405,039 |
|
377,837 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
10,785 |
|
9,917 |
|
Trade creditors |
128,850 |
|
19,039 |
|
Directors current account |
|
36,430 |
|
10,826 |
|
Accruals and deferred income |
|
|
|
|
1,720 |
|
1,295 |
|
Taxation and social security costs |
132,792 |
|
111,466 |
|
Other creditors |
153,239 |
|
166,208 |
|
|
|
|
|
|
463,816 |
|
318,751 |
|
|
|
|
|
|
|
|
|
|
8 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
11,611 |
|
22,395 |
|
Other creditors |
- |
|
60,691 |
|
|
|
|
|
|
11,611 |
|
83,086 |
|
|
|
|
|
|
|
|
|
|
9 |
Leasing agreements |
|
|
|
|
|
|
Non-cancellable |
|
|
|
|
|
|
operating leases |
|
Minimum lease payments falling due as follows: |
|
2024 |
|
2023 |
£ |
£ |
|
|
Within one year |
33,690 |
|
25,054 |
|
Between one and five years |
33,626 |
|
28,727 |
|
In more than five years |
- |
|
- |
|
|
|
67,316 |
|
53,781 |
|
|
|
|
|
|
|
|
|
|
10 |
Related party transactions |
|
|
During the year £202,132 (2023: £164,528) was advanced from and £176,528 (2023: £199,081) was repaid to the director of the company. An amount of £36,430 (2023: £10,826) remained due to the director at the year end. |