SBLS Loans Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 05418063

SBLS Loans Ltd

Filleted Unaudited Financial Statements

31 March 2023

SBLS Loans Ltd

Financial Statements

Year ended 31 March 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

SBLS Loans Ltd

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Current assets

Debtors	5	528,175	517,727
Cash at bank and in hand		166,561	186,470
		---------	---------
		694,736	704,197

Creditors: amounts falling due within one year	6	312,512		327,768
		---------		---------
Net current assets			382,224	376,429
			---------	---------
Total assets less current liabilities			382,224	376,429

Creditors: amounts falling due after more than one year	7	250,000	250,000
		---------	---------
Net assets		132,224	126,429
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	132,124	126,329
	---------	---------
Shareholders funds	132,224	126,429
	---------	---------

These financial statements 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.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SBLS Loans Ltd

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 19 December 2023 , and are signed on behalf of the board by:

Mr S H Parfitt
Director

Company registration number: 05418063

SBLS Loans Ltd

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Devonshire Gardens, London, W4 3TN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 1).

5. Debtors

	2023	2022
	£	£
Trade debtors	145,624	140,227
Other debtors	382,551	377,500
	---------	---------
	528,175	517,727
	---------	---------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Corporation tax	1,703	1,135
Other creditors	310,809	326,633
	---------	---------
	312,512	327,768
	---------	---------

7. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	250,000	250,000
	---------	---------

8. Related party transactions

At the year end the company owed £nil (2022: £15,823) to and was owed £382,551 (2022: £377,500) by entities associated by common control. At the year end date the company owed the director £558,309 (2022: £558,309).