Company Registration No. 09575325 (England and Wales)
SLINGSHOT SIX LIMITED
Unaudited accounts
for the year ended 31 May 2018
SLINGSHOT SIX LIMITED
Unaudited accounts
Contents
SLINGSHOT SIX LIMITED
Company Information
for the year ended 31 May 2018
Directors
A Harris
M J Langmaid
S L Langmaid
Company Number
09575325 (England and Wales)
Registered Office
DEVON COTTAGE
ALPHINGTON ROAD
EXETER
DEVON
EX2 8NA
ENGLAND
Accountants
WRENSFIELD LTD
SUITE 60, 17 HOLYWELL HILL
ST ALBANS
HERTS
AL1 1DT
SLINGSHOT SIX LIMITED
Statement of financial position
as at
31 May 2018
Tangible assets
1,464
142
Cash at bank and in hand
27,486
41,453
Creditors: amounts falling due within one year
(121,012)
(43,888)
Net current assets
25,734
16,987
Total assets less current liabilities
27,198
17,129
Creditors: amounts falling due after more than one year
(14,491)
-
Called up share capital
100
100
Profit and loss account
12,607
17,029
Shareholders' funds
12,707
17,129
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 21 February 2019.
M J Langmaid
Director
Company Registration No. 09575325
SLINGSHOT SIX LIMITED
Notes to the Accounts
for the year ended 31 May 2018
SLINGSHOT SIX LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09575325. The registered office is DEVON COTTAGE, ALPHINGTON ROAD, EXETER, DEVON, EX2 8NA, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research and development is written off in the year in which it is incurred.
SLINGSHOT SIX LIMITED
Notes to the Accounts
for the year ended 31 May 2018
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
4
Tangible fixed assets
Total
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Transactions with related parties
At the balance sheet date. the company was owed £819 by ISCA Innovations Limited. A Harris and M Langmaid are directors and shareholders of ISCA Innovations Limited.
At the balance sheet date, the company owed £10,000 to GenerateOne Ltd. A Harris is a director and shareholder of GenerateOne Ltd. This was an interest free loan that was repaid in October 2018.
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Average number of employees
During the year the average number of employees was 3 (2017: 3).