REGISTERED NUMBER: 04515457 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Ivan Slater Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I L Slater

Mrs A Slater

REGISTERED OFFICE:

Hudsbrook Farm

Bleasdale Lane

Claughton-on-Brock

Preston

Lancashire

PR3 1UQ

REGISTERED NUMBER:

04515457 (England and Wales)

ACCOUNTANTS:

McDade Roberts Accountants Limited

BTC House

Chapel Hill

Longridge

Preston

Lancashire

PR3 3JY

FIXED ASSETS

Intangible assets

4

26,693

27,697

Tangible assets

5

231,239

138,480

257,932

166,177

CURRENT ASSETS

Stocks

100,723

107,590

Debtors

6

41,221

42,524

Cash at bank

140,639

225,743

282,583

375,857

CREDITORS

Amounts falling due within one year

7

117,488

170,566

NET CURRENT ASSETS

165,095

205,291

TOTAL ASSETS LESS CURRENT LIABILITIES

423,027

371,468

CREDITORS

Amounts falling due after more than one year

8

(6,389

)

-

PROVISIONS FOR LIABILITIES

(38,809

)

(11,439

)

NET ASSETS

377,829

360,029

CAPITAL AND RESERVES

Called up share capital

900

900

Retained earnings

376,929

359,129

SHAREHOLDERS' FUNDS

377,829

360,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:

Mr I L Slater - Director

1.	STATUTORY INFORMATION

Ivan Slater Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Herd are being amortised evenly over their estimated useful life of nil years.

Entitlements are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

4% on cost

Plant and machinery

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences 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 tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2023

and 31 August 2024

33,718

AMORTISATION

At 1 September 2023

6,021

Charge for year

1,004

At 31 August 2024

7,025

NET BOOK VALUE

At 31 August 2024

26,693

At 31 August 2023

27,697

5.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 September 2023

122,194

15,187

604,282

Additions

-

-

167,155

Disposals

-

-

(110,000

)

At 31 August 2024

122,194

15,187

661,437

DEPRECIATION

At 1 September 2023

53,950

1,806

549,207

Charge for year

4,862

759

67,955

Eliminated on disposal

-

-

(109,625

)

At 31 August 2024

58,812

2,565

507,537

NET BOOK VALUE

At 31 August 2024

63,382

12,622

153,900

At 31 August 2023

68,244

13,381

55,075

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2023

7,500

557

749,720

Additions

-

-

167,155

Disposals

-

-

(110,000

)

At 31 August 2024

7,500

557

806,875

DEPRECIATION

At 1 September 2023

5,720

557

611,240

Charge for year

445

-

74,021

Eliminated on disposal

-

-

(109,625

)

At 31 August 2024

6,165

557

575,636

NET BOOK VALUE

At 31 August 2024

1,335

-

231,239

At 31 August 2023

1,780

-

138,480

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade debtors

23,690

28,971

VAT

8,499

4,416

Prepayments

9,032

9,137

41,221

42,524

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade creditors

11,696

51,082

Tax

-

15,586

Directors' loan accounts

99,392

97,728

Accrued expenses

6,400

6,170

117,488

170,566

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Deferred government grants

6,389

-