26 01/11/2023 31/10/2024 2024-10-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-11-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 00993421 2023-11-01 2024-10-31 00993421 2024-10-31 00993421 2023-10-31 00993421 2022-11-01 2023-10-31 00993421 2023-10-31 00993421 2022-10-31 00993421 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 00993421 core:PlantMachinery 2023-11-01 2024-10-31 00993421 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 00993421 core:MotorVehicles 2023-11-01 2024-10-31 00993421 bus:Director2 2023-11-01 2024-10-31 00993421 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 00993421 core:PlantMachinery 2023-10-31 00993421 core:FurnitureFittingsToolsEquipment 2023-10-31 00993421 core:MotorVehicles 2023-10-31 00993421 core:LandBuildings core:OwnedOrFreeholdAssets 2024-10-31 00993421 core:PlantMachinery 2024-10-31 00993421 core:FurnitureFittingsToolsEquipment 2024-10-31 00993421 core:MotorVehicles 2024-10-31 00993421 core:WithinOneYear 2024-10-31 00993421 core:WithinOneYear 2023-10-31 00993421 core:ShareCapital 2024-10-31 00993421 core:ShareCapital 2023-10-31 00993421 core:RetainedEarningsAccumulatedLosses 2024-10-31 00993421 core:RetainedEarningsAccumulatedLosses 2023-10-31 00993421 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 00993421 core:PlantMachinery 2023-10-31 00993421 core:FurnitureFittingsToolsEquipment 2023-10-31 00993421 core:MotorVehicles 2023-10-31 00993421 bus:SmallEntities 2023-11-01 2024-10-31 00993421 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 00993421 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 00993421 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 00993421 bus:FullAccounts 2023-11-01 2024-10-31
Company registration number: 00993421
Slacks Millom Limited
Unaudited filleted financial accounts
For the year ended
31 October 2024
Slacks Millom Limited
Contents
Statement of financial position
Notes to the financial accounts
Slacks Millom Limited
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Property, plant and equipment 3 1,098,620 1,057,870
Investment property - -
________ ________
1,098,620 1,057,870
Current assets
Stocks 848,760 1,058,792
Debtors 4 1,561,390 1,343,400
Cash at bank and in hand 267,823 428,303
________ ________
2,677,973 2,830,495
Creditors: amounts falling due
within one year 5 ( 756,856) ( 857,555)
________ ________
Net current assets 1,921,117 1,972,940
________ ________
Total assets less current liabilities 3,019,737 3,030,810
Provisions for liabilities 48,534 28,030
________ ________
Net assets 3,068,271 3,058,840
________ ________
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 3,066,271 3,056,840
________ ________
Shareholders funds 3,068,271 3,058,840
________ ________
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial accounts for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial accounts.
These financial accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial accounts were approved by the board of directors and authorised for issue on 02 May 2025 , and are signed on behalf of the board by:
Mr A E Slack
Director
Company registration number: 00993421
Slacks Millom Limited
Notes to the financial accounts
Year ended 31 October 2024
1. Accounting policies
General information
The company is a private company limited by shares, registered in England and Wales, registration number 00993421 . The address of the registered office is Slacks Millom Limited, Loco Shed, Borwick Rails, Millom, Cumbria, LA18 4JU.
Basis of preparation
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same financial statements.
Turnover
Turnover consists of the sales value, excluding VAT, of all work done in the period under contracts to supply goods and services to third parties. It includes the relevant proportion of contract values where work is partially performed in the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Property, plant and equipment
Property, plant and equipment are included at cost less depreciation and impairment.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 5 % straight line
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 5 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Pension costs
The company operates a defined contribution scheme for the benefit of its directors and certain employees. Contributions payable are recognised in comprehensive income when due.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2023: 28 ).
3. Property, plant and equipment
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 November 2023 1,304,477 3,562,795 31,391 132,152 5,030,815
Additions 86,715 39,437 17,805 63,800 207,757
Disposals - - - ( 29,850) ( 29,850)
________ ________ ________ ________ ________
At 31 October 2024 1,391,192 3,602,232 49,196 166,102 5,208,722
________ ________ ________ ________ ________
Depreciation
At 1 November 2023 396,457 3,448,567 17,140 110,781 3,972,945
Charge for the year 62,521 79,657 1,755 23,074 167,007
Disposals - - - ( 29,850) ( 29,850)
________ ________ ________ ________ ________
At 31 October 2024 458,978 3,528,224 18,895 104,005 4,110,102
________ ________ ________ ________ ________
Carrying amount
At 31 October 2024 932,214 74,008 30,301 62,097 1,098,620
________ ________ ________ ________ ________
At 31 October 2023 908,020 114,228 14,251 21,371 1,057,870
________ ________ ________ ________ ________
4. Debtors
2024 2023
£ £
Trade debtors 1,454,916 1,204,719
Other debtors 106,474 138,681
________ ________
1,561,390 1,343,400
________ ________
5. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 510,848 501,929
Taxation and social security 61,671 158,798
Directors loan account 95,864 98,264
Other creditors 88,473 98,564
________ ________
756,856 857,555
________ ________