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REGISTERED NUMBER: 01434289 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

S.W. SLATING AND TILING LIMITED

S.W. SLATING AND TILING LIMITED (REGISTERED NUMBER: 01434289)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


S.W. SLATING AND TILING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: P Palfrey
T W J Samuel





REGISTERED OFFICE: Honiton Road
Clyst Honiton
Exeter
Devon
EX5 2NH





REGISTERED NUMBER: 01434289 (England and Wales)





ACCOUNTANTS: Sheppard Rockey & Williams Ltd
Sannerville Chase
Exminster
Exeter
Devon
EX6 8AT

S.W. SLATING AND TILING LIMITED (REGISTERED NUMBER: 01434289)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 296,343 265,612

CURRENT ASSETS
Stocks 113,648 132,675
Debtors 5 607,075 658,204
Cash in hand 133 72
720,856 790,951
CREDITORS
Amounts falling due within one year 6 447,858 462,603
NET CURRENT ASSETS 272,998 328,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

569,341

593,960

CREDITORS
Amounts falling due after more than one year 7 (83,067 ) (143,226 )

PROVISIONS FOR LIABILITIES (35,025 ) (30,959 )
NET ASSETS 451,249 419,775

CAPITAL AND RESERVES
Called up share capital 9 2,002 2,002
Revaluation reserve 10 158,431 158,431
Retained earnings 290,816 259,342
SHAREHOLDERS' FUNDS 451,249 419,775

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.

S.W. SLATING AND TILING LIMITED (REGISTERED NUMBER: 01434289)

BALANCE SHEET - continued
31 AUGUST 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:




P Palfrey - Director



T W J Samuel - Director


S.W. SLATING AND TILING LIMITED (REGISTERED NUMBER: 01434289)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

S.W. Slating and Tiling 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of jobs completed during the year net of value added tax and after adjusting for work in progress.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - freehold buildings 4% on cost and freehold land no depreciation
Plant and equipment - 20% on cost
Motor vehicles - 20% on cost
Office equipment - 20% on cost

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

Work in Progress includes attributable profit where appropriate with regard to the stage of completion of the contract and excludes foreseeable losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


S.W. SLATING AND TILING LIMITED (REGISTERED NUMBER: 01434289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Office
property equipment vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 September 2023 280,000 78,277 287,149 19,586 665,012
Additions - 12,249 60,775 43,687 116,711
Disposals - - (29,878 ) - (29,878 )
At 31 August 2024 280,000 90,526 318,046 63,273 751,845
DEPRECIATION
At 1 September 2023 159,600 47,299 174,157 18,344 399,400
Charge for year 8,400 10,784 46,021 9,364 74,569
Eliminated on disposal - - (18,467 ) - (18,467 )
At 31 August 2024 168,000 58,083 201,711 27,708 455,502
NET BOOK VALUE
At 31 August 2024 112,000 32,443 116,335 35,565 296,343
At 31 August 2023 120,400 30,978 112,992 1,242 265,612

S.W. SLATING AND TILING LIMITED (REGISTERED NUMBER: 01434289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS - continued

Freehold property was revalued in September 2005 by Stratton Creber Commercial Property Consultants on the basis of open market value and assuming vacant possession. The historical cost of the freehold land and buildings was £121,569 (2023: £121,569). The directors are of the opinion that this valuation continues to represent the fair value of the property.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
equipment vehicles Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 35,000 128,563 163,563
Additions - 53,500 53,500
Disposals - (17,784 ) (17,784 )
At 31 August 2024 35,000 164,279 199,279
DEPRECIATION
At 1 September 2023 7,000 42,025 49,025
Charge for year 7,000 32,856 39,856
Eliminated on disposal - (7,114 ) (7,114 )
At 31 August 2024 14,000 67,767 81,767
NET BOOK VALUE
At 31 August 2024 21,000 96,512 117,512
At 31 August 2023 28,000 86,538 114,538

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 442,037 536,007
Other debtors 165,038 122,197
607,075 658,204

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 201,284 184,003
Hire purchase contracts 55,587 53,684
Trade creditors 160,003 161,766
Taxation and social security 22,342 38,851
Other creditors 8,642 24,299
447,858 462,603

S.W. SLATING AND TILING LIMITED (REGISTERED NUMBER: 01434289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 10,042 70,292
Hire purchase contracts 73,025 72,934
83,067 143,226

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank overdrafts 141,034 123,753

The bank overdraft is secured by a fixed and floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
1,650 A Ordinary shares £1 1,650 1,650
202 B Ordinary shares £1 202 202
50 C Ordinary Shares £1 50 50
50 D Ordinary Shares £1 50 50
50 E Ordinary shares £1 50 50
2,002 2,002

10. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 158,431

11. RELATED PARTY DISCLOSURES

Included in other debtors falling due within one year is a loan of £80,000 made to a company in which one of the directors has a controlling interest. The loan is unsecured, interest free and repayable on demand.