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REGISTERED NUMBER: 11365548 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2023

for

Slimm Properties Ltd

Slimm Properties Ltd (Registered number: 11365548)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Slimm Properties Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S D Harvey





REGISTERED OFFICE: 24 Wesley Place
Bristol
City of Bristol
BS8 2YD





REGISTERED NUMBER: 11365548 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Slimm Properties Ltd (Registered number: 11365548)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2 2
Investment property 5 12,169,513 9,446,913
12,169,515 9,446,915

CURRENT ASSETS
Cash at bank 566,686 292,388

CREDITORS
Amounts falling due within one year 6 195,954 185,893
NET CURRENT ASSETS 370,732 106,495
TOTAL ASSETS LESS CURRENT LIABILITIES 12,540,247 9,553,410

CREDITORS
Amounts falling due after more than one year 7 (4,572,500 ) (4,572,500 )

PROVISIONS FOR LIABILITIES (680,650 ) -
NET ASSETS 7,287,097 4,980,910

CAPITAL AND RESERVES
Called up share capital 9 4,000,000 4,000,000
Share premium 10 222,780 222,780
Retained earnings 10 3,064,317 758,130
SHAREHOLDERS' FUNDS 7,287,097 4,980,910

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 director acknowledges his 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.

Slimm Properties Ltd (Registered number: 11365548)

Balance Sheet - continued
31 March 2023


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 director and authorised for issue on 11 August 2023 and were signed by:





S D Harvey - Director


Slimm Properties Ltd (Registered number: 11365548)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Slimm Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover consists of rents receivable. Revenue is recognised evenly over the rental period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

Slimm Properties Ltd (Registered number: 11365548)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 2
NET BOOK VALUE
At 31 March 2023 2
At 31 March 2022 2

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 9,446,913
Revaluations 2,722,600
At 31 March 2023 12,169,513
NET BOOK VALUE
At 31 March 2023 12,169,513
At 31 March 2022 9,446,913

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 2,722,600
Cost 9,446,913
12,169,513

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 9,446,913 9,446,913

The investment properties were valued on an open market basis on 31 March 2023 by the director .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 2,615 1,076
Tax 66,982 80,340
Social security and other taxes 422 307
Other creditors 60,795 67,175
Directors' current accounts - 6,144
Accrued expenses 65,140 30,851
195,954 185,893

Slimm Properties Ltd (Registered number: 11365548)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 4,300,000 4,300,000
Bank loans - 2-5 years 272,500 272,500
4,572,500 4,572,500

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 4,572,500 4,572,500

The loan is secured on the properties owned by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
5,000,000 Ordinary A £1 500,000 500,000
3,000,000 Ordinary B £1 3,000,000 3,000,000
500,000 Ordinary C £1 500,000 500,000
4,000,000 4,000,000

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 758,130 222,780 980,910
Profit for the year 2,327,506 2,327,506
Dividends (21,319 ) (21,319 )
At 31 March 2023 3,064,317 222,780 3,287,097

The company has non-distributable reserves totalling £2,041,950.