Silverfin false 31/01/2023 01/02/2022 31/01/2023 J P Sloan 22/01/2021 R Sloan 22/01/2021 19 October 2023 The principal activity of the Company during the financial year was that of a holding company. 13152933 2023-01-31 13152933 bus:Director1 2023-01-31 13152933 bus:Director2 2023-01-31 13152933 2022-01-31 13152933 core:CurrentFinancialInstruments 2023-01-31 13152933 core:CurrentFinancialInstruments 2022-01-31 13152933 core:Non-currentFinancialInstruments 2023-01-31 13152933 core:Non-currentFinancialInstruments 2022-01-31 13152933 core:ShareCapital 2023-01-31 13152933 core:ShareCapital 2022-01-31 13152933 core:RetainedEarningsAccumulatedLosses 2023-01-31 13152933 core:RetainedEarningsAccumulatedLosses 2022-01-31 13152933 core:InvestmentPropertyIncludedWithinPPE 2022-01-31 13152933 core:InvestmentPropertyIncludedWithinPPE 2023-01-31 13152933 core:CurrentFinancialInstruments core:Secured 2023-01-31 13152933 2022-02-01 2023-01-31 13152933 bus:FullAccounts 2022-02-01 2023-01-31 13152933 bus:SmallEntities 2022-02-01 2023-01-31 13152933 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 13152933 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 13152933 bus:Director1 2022-02-01 2023-01-31 13152933 bus:Director2 2022-02-01 2023-01-31 13152933 2021-02-01 2022-01-31 13152933 core:Non-currentFinancialInstruments 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Company No: 13152933 (England and Wales)

SLOAN PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

SLOAN PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

SLOAN PROPERTIES LIMITED

BALANCE SHEET

As at 31 January 2023
SLOAN PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 578,553 578,553
Investments 100 100
578,653 578,653
Current assets
Debtors 4 0 3,750
Cash at bank and in hand 77 8
77 3,758
Creditors: amounts falling due within one year 5 ( 276,542) ( 215,308)
Net current liabilities (276,465) (211,550)
Total assets less current liabilities 302,188 367,103
Creditors: amounts falling due after more than one year 6 ( 90,772) ( 144,818)
Net assets 211,416 222,285
Capital and reserves
Called-up share capital 200 200
Profit and loss account 211,216 222,085
Total shareholders' funds 211,416 222,285

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

Directors' responsibilities:

The financial statements of Sloan Properties Limited (registered number: 13152933) were approved and authorised for issue by the Director on 19 October 2023. They were signed on its behalf by:

J P Sloan
Director
R Sloan
Director
SLOAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
SLOAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sloan Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover consists of dividend income from investments which is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and deposits held at call with banks.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
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. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Total
£ £
Cost
At 01 February 2022 578,553 578,553
At 31 January 2023 578,553 578,553
Accumulated depreciation
At 01 February 2022 0 0
At 31 January 2023 0 0
Net book value
At 31 January 2023 578,553 578,553
At 31 January 2022 578,553 578,553

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 0 200
Other debtors 0 3,550
0 3,750

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 56,538 36,204
Amounts owed to Group undertakings 50,679 0
Taxation and social security 1,680 1,662
Other creditors 167,645 177,442
276,542 215,308

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

2023 2022
£ £
Bank loans (secured) 90,772 144,818

Included within the current and non - current bank loans is the mortgage on the freehold buildings which has a carrying amount of £578,730 ( 2022 - £578,730).