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Registered number: 12389214 SLRC LTD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
SLRC LTD CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SLRC LTD FOR THE YEAR ENDED 31 OCTOBER 2024 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SLRC Ltd for the year ended 31 October 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us. This report is made solely to the director of SLRC Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of SLRC Ltd and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SLRC Ltd and its director for our work or for this report. It is your duty to ensure that SLRC Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that SLRC Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of SLRC 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. Shipleys Tax Planning 1 October 2025 Page 1
SLRC LTD REGISTERED NUMBER: 12389214 BALANCE SHEET AS AT 31 OCTOBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 701,865 |  | 701,865
|  |  | 701,865 |  | 701,865
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 85,002 |  | 85,002 |
Cash at bank and in hand | 6 | 37,366 |  | 92,475 |
|  | 122,368 |  | 177,477 |
Creditors: amounts falling due within one year | 7 | (708,706) |  | (800,258) |
Net current liabilities |  |  | (586,338) |  | (622,781)
Total assets less current liabilities |  |  | 115,527 |  | 79,084
Net assets |  |  | 115,527 |  | 79,084
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | 115,525 |  | 79,082
|  |  | 115,527 |  | 79,084
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2025. Page 2
SLRC LTD REGISTERED NUMBER: 12389214 BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2024
Dr Nabil Choudhury
Director
The notes on pages 4 to 7 form part of these financial statements. Page 3
SLRC LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. | General information
SLRC Ltd is a company domiciled in England and Wales, registration number 12389214. The registered office address is Wharf House, Victoria Quays, Wharf Street, Sheffield, S2 5SY. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 4
SLRC LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 2.Accounting policies (continued)
| 2.3 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
SLRC LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
3. | Employees
| The average monthly number of employees, including the director, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | Administration | 1 | 1
4. | Tangible fixed assets
|  | Freehold property
|  | £
| Cost or valuation |
| At 1 November 2023 | 701,865
| At 31 October 2024 | 701,865
| Net book value |
| At 31 October 2024 | 701,865
| At 31 October 2023 | 701,865
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Freehold | 701,865 | 701,865
|  | 701,865 | 701,865
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 85,002 | 85,002
|  | 85,002 | 85,002
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SLRC LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 37,366 | 92,475
|  | 37,366 | 92,475
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Corporation tax | 12,148 | 9,343
| Other creditors | 694,638 | 789,475
| Accruals and deferred income | 1,920 | 1,440
|  | 708,706 | 800,258
8. | Financial instruments
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Financial assets |  |
| Financial assets measured at fair value through profit or loss | 37,366 | 37,366
| Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.
9. | Related party transactions
| At the balance sheet date, the amount of £694,638 (2023: £788,275) is included in other creditors due within one year. At the balance sheet date, the company was owed £85,000 (2023: £85,000) by Relianze Group Ltd, a company in which Dr Nabil Choudhury is a shareholder. This amount is included in other debtors.
10. | Controlling party
Dr Nabil Choudhury is the ultimate controlling party.
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