SL Comms (Solutions) Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 10375553 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

SL COMMS (SOLUTIONS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Stephen William Johnson

Leonie Elizabeth Johnson

REGISTERED OFFICE:

Hilltop Farm

Whitehall Road East

Birkenshaw

Bradford

West Yorkshire

BD11 2LH

REGISTERED NUMBER:

10375553 (England and Wales)

ACCOUNTANTS:

Walter Dawson & Son

Chartered Accountants

1 Valley Court

Canal Road

Bradford

West Yorkshire

BD1 4SP

FIXED ASSETS

Tangible assets

4

136,929

126,455

CURRENT ASSETS

Stocks

89,490

105,635

Debtors

5

240,806

287,182

Cash at bank

565,790

353,265

896,086

746,082

CREDITORS

Amounts falling due within one year

6

149,771

151,863

NET CURRENT ASSETS

746,315

594,219

TOTAL ASSETS LESS CURRENT LIABILITIES

883,244

720,674

CREDITORS

Amounts falling due after more than one year

7

(254,405

)

(171,245

)

PROVISIONS FOR LIABILITIES

(18,206

)

(16,095

)

NET ASSETS

610,633

533,334

CAPITAL AND RESERVES

Called up share capital

100

100

Profit and loss account

610,533

533,234

610,633

533,334

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2023 and were signed on its behalf by:

Stephen William Johnson - Director

1.	STATUTORY INFORMATION

SL Comms (Solutions) 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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

STOCKS

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

INCOME RECOGNITION

Revenue is recognised to the extent that is probable that the economic benefits will flow to the company and 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future charges, are included in creditors.

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 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2021

33,017

13,183

184,818

231,018

Additions

-

-

51,690

51,690

At 30 September 2022

33,017

13,183

236,508

282,708

DEPRECIATION

At 1 October 2021

10,248

2,748

91,567

104,563

Charge for year

3,416

1,565

36,235

41,216

At 30 September 2022

13,664

4,313

127,802

145,779

NET BOOK VALUE

At 30 September 2022

19,353

8,870

108,706

136,929

At 30 September 2021

22,769

10,435

93,251

126,455

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

117,159

156,400

Other debtors

123,647

130,782

240,806

287,182

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

19,815

-

Hire purchase contracts (see note 8)

22,092

19,227

Trade creditors

79,809

94,578

Taxation and social security

20,521

26,496

Other creditors

7,534

11,562

149,771

151,863

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

225,231

150,000

Hire purchase contracts (see note 8)

29,174

21,245

254,405

171,245

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

225,231

150,000

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2022

2021

£

£

Net obligations repayable:

Within one year

22,092

19,227

Between one and five years

29,174

21,245

51,266

40,472

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

245,046

150,000

Hire purchase contracts

51,266

40,472

296,312

190,472

The obligations under finance leases and hire purchase contracts are secured by a charge on the assets purchased under these agreements.

10.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £8,905 (2021: £7,132).Contributions totalling £1,147 (2021: £919) were payable to the plan at the year end and are included in creditors.

11.	RELATED PARTY DISCLOSURES

Mr Stephen Johnson has control over a majority of shares in the company, and together with his involvement in its day-to-day management, is deemed to be the controlling parties for the purposes of Financial Reporting Standard No.102.

Creditors falling due within one year includes the following directors' loans. Mr Stephen Johnson £719 (2021: £1,419).