S L (Lancashire) Ltd - Accounts to registrar (filleted) - small 22.3

S L (Lancashire) Ltd - Accounts to registrar (filleted) - small 22.3

S L (LANCASHIRE) LTD - Company Information

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REGISTERED NUMBER: 07677643 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

S L (LANCASHIRE) LTD
Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH








S L (LANCASHIRE) LTD (REGISTERED NUMBER: 07677643)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S L (LANCASHIRE) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: Mrs L J Rogers
Mrs L S Bottomley
N R Layton-Hill
Mrs G C Layton-Hill





REGISTERED OFFICE: 71 King Street
Whalley
Clitheroe
Lancashire
BB7 9SW





REGISTERED NUMBER: 07677643 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH
Page 1
S L (LANCASHIRE) LTD (REGISTERED NUMBER: 07677643)

BALANCE SHEET
31 MARCH 2022

31/3/22 31/3/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,710 40,702

CURRENT ASSETS
Stocks 758,915 845,945
Debtors 5 32,792 192,608
Cash at bank 124,446 13,103
916,153 1,051,656
CREDITORS
Amounts falling due within one year 6 234,464 322,795
NET CURRENT ASSETS 681,689 728,861
TOTAL ASSETS LESS CURRENT
LIABILITIES
799,399
769,563

CREDITORS
Amounts falling due after more than one
year
7
(621,920
)
(671,903
)

PROVISIONS FOR LIABILITIES (26,693 ) (7,733 )
NET ASSETS 150,786 89,927

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 150,766 89,907
SHAREHOLDERS' FUNDS 150,786 89,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 notes form part of these financial statements

Page 2 continued...
S L (LANCASHIRE) LTD (REGISTERED NUMBER: 07677643)

BALANCE SHEET - continued
31 MARCH 2022


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 15 December 2022 and were signed on its behalf by:





Mrs G C Layton-Hill - Director


The notes form part of these financial statements

Page 3
S L (LANCASHIRE) LTD (REGISTERED NUMBER: 07677643)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

S L (Lancashire) Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% 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 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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 8 ) .

Page 4 continued...
S L (LANCASHIRE) LTD (REGISTERED NUMBER: 07677643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 104,501
Additions 95,571
At 31 March 2022 200,072
DEPRECIATION
At 1 April 2021 63,799
Charge for year 18,563
At 31 March 2022 82,362
NET BOOK VALUE
At 31 March 2022 117,710
At 31 March 2021 40,702

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Other debtors 32,792 192,608

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Bank loans and overdrafts 49,992 45,835
Trade creditors 49,683 70,422
Taxation and social security 64,269 111,136
Other creditors 70,520 95,402
234,464 322,795

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/22 31/3/21
£    £   
Bank loans 154,184 204,167
Other creditors 467,736 467,736
621,920 671,903

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2 4,167

8. RELATED PARTY DISCLOSURES

Included in Other Debtors, note 8, is an amount of £30,256 (2021:£158,400) owing from the Directors.

Page 5