S&L Restoration Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08906988 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

S&L RESTORATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S E Miles

Mr L A Jenkinson

REGISTERED OFFICE:

Unit 4

Fir Covert Road

Felthorpe

Norwich

NR10 4DT

REGISTERED NUMBER:

08906988 (England and Wales)

ACCOUNTANTS:

Stephenson Smart (East Anglia) Limited

Queens Head House

The Street

Acle

Norwich

NR13 3DY

FIXED ASSETS

Tangible assets

4

28,492

28,351

CURRENT ASSETS

Stocks

15,000

15,000

Debtors

5

57,150

121,054

Cash at bank

207,162

134,468

279,312

270,522

CREDITORS

Amounts falling due within one year

6

78,615

79,218

NET CURRENT ASSETS

200,697

191,304

TOTAL ASSETS LESS CURRENT LIABILITIES

229,189

219,655

PROVISIONS FOR LIABILITIES

6,888

6,369

NET ASSETS

222,301

213,286

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

222,201

213,186

SHAREHOLDERS' FUNDS

222,301

213,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2023 and were signed on its behalf by:

Mr S E Miles - Director

1.	STATUTORY INFORMATION

S&L Restoration 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.

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

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery etc - 25% on reducing balance

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.

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 6 (2022 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

53,462

Additions

8,638

At 31 March 2023

62,100

DEPRECIATION

At 1 April 2022

25,111

Charge for year

8,497

At 31 March 2023

33,608

NET BOOK VALUE

At 31 March 2023

28,492

At 31 March 2022

28,351

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

41,211

92,530

Other debtors

15,939

28,524

57,150

121,054

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

577

21,051

Taxation and social security

52,319

51,678

Other creditors

25,719

6,489

78,615

79,218

7.	ULTIMATE CONTROLLING PARTY

The company is controlled jointly by Mr S E Miles and Mr L Jenkinson.