Company registration number 07009474 (England and Wales)
SLP DECORATIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SLP DECORATIONS LTD
CONTENTS
Page
Accountants' report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4 - 6
SLP DECORATIONS LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SLP DECORATIONS LTD FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SLP Decorations Ltd for the year ended 31 December 2024 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of SLP Decorations Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SLP Decorations Ltd and state those matters that we have agreed to state to the board of directors of SLP Decorations Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SLP Decorations Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that SLP Decorations Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SLP Decorations Ltd. You consider that SLP Decorations Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SLP Decorations Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Xeinadin London Limited
46-48 East Street
Epsom
Surrey
KT17 1HQ
United Kingdom
25 February 2025
SLP DECORATIONS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
2024
2023
£
£
Turnover
557,212
637,388
Cost of sales
(483,717)
(483,209)
Gross profit
73,495
154,179
Administrative expenses
(48,946)
(47,400)
Operating profit
24,549
106,779
Interest payable and similar expenses
(496)
(740)
Profit before taxation
24,053
106,039
Tax on profit
(4,582)
(23,345)
Profit for the financial year
19,471
82,694

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SLP DECORATIONS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
126
189
Current assets
Debtors
4
64,053
54,725
Cash at bank and in hand
24,298
85,264
88,351
139,989
Creditors: amounts falling due within one year
5
(65,294)
(43,231)
Net current assets
23,057
96,758
Total assets less current liabilities
23,183
96,947
Creditors: amounts falling due after more than one year
6
(15,932)
(24,167)
Net assets
7,251
72,780
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
7,151
72,680
Total equity
7,251
72,780

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

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

The director acknowledges her 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 financial statements were approved and signed by the director and authorised for issue on 25 February 2025
Ms S P Painter
Director
Company registration number 07009474 (England and Wales)
SLP DECORATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

SLP Decorations Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3 Park Court,, West Byfleet, Surrey, UK, KT14 6SD.

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, [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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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:

Computers
33.33% reducing balance
1.4
Impairment of fixed assets

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Taxation

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

SLP DECORATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

There were no leases.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1.

2024
2023
Number
Number
Total
1
1
SLP DECORATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
639
Depreciation and impairment
At 1 January 2024
450
Depreciation charged in the year
63
At 31 December 2024
513
Carrying amount
At 31 December 2024
126
At 31 December 2023
189
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
41,720
6,670
Other debtors
22,333
48,055
64,053
54,725
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
34,699
9,028
Corporation tax
4,582
23,345
Other taxation and social security
6,973
3,602
Other creditors
19,040
7,256
65,294
43,231
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,932
24,167
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