Registration number:
Slater Brothers (Sheffield) Limited
for the Year Ended 31 December 2024
Slater Brothers (Sheffield) Limited
(Registration number: 00253759)
Balance Sheet as at 31 December 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
Slater Brothers (Sheffield) Limited
(Registration number: 00253759)
Balance Sheet as at 31 December 2024 (continued)
.........................................
J A Kitson
Director
Slater Brothers (Sheffield) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Accounting policies |
Statutory information
Slater Brothers (Sheffield) Limited is a private company, limited by shares, domiciled in England and Wales, company number 00253759. The registered office is at 103 Arundel Street, Sheffield, S1 2NT.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover represents the income arising from property lettings. Revenue is recognised on a straight line basis over the lease term.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Slater Brothers (Sheffield) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
1 |
Accounting policies (continued) |
Asset class |
Depreciation method and rate |
Plant and machinery |
15% on reducing balance |
Office equipment |
15% on reducing balance |
Investment properties
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Slater Brothers (Sheffield) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
Tangible assets |
Investment properties |
Plant and machinery |
Office equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
- |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Revaluations
The class of fixed assets investment properties was revalued on 31 December 2024 by the directors who are internal to the company. The basis of this valuation was existing use basis. This class of assets has a current value of £1,215,000 (2023 - £1,215,000) and a carrying amount at historical cost of £398,118 (2023 - £398,118). The depreciation on this historical cost is £Nil (2023 - £Nil).
Slater Brothers (Sheffield) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Ordinary |
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W. & J.A. Baxter Limited The principal activity of W. & J.A. Baxter Limited is |
Debtors |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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Slater Brothers (Sheffield) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
Creditors |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Related party transactions |
The company has taken advantage of the exemptions available under FRS 102 (1A) from disclosing transactions with other members of the group.