Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31an investment company holding rental property2022-02-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11762078 2022-02-01 2023-01-31 11762078 2021-02-01 2022-01-31 11762078 2023-01-31 11762078 2022-01-31 11762078 c:Director1 2022-02-01 2023-01-31 11762078 d:MotorVehicles 2022-02-01 2023-01-31 11762078 d:MotorVehicles 2023-01-31 11762078 d:MotorVehicles 2022-01-31 11762078 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 11762078 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 11762078 d:ComputerEquipment 2022-02-01 2023-01-31 11762078 d:ComputerEquipment 2023-01-31 11762078 d:ComputerEquipment 2022-01-31 11762078 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 11762078 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 11762078 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 11762078 d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 11762078 d:FreeholdInvestmentProperty 2023-01-31 11762078 d:FreeholdInvestmentProperty 2022-01-31 11762078 d:FreeholdInvestmentProperty 2 2022-02-01 2023-01-31 11762078 d:CurrentFinancialInstruments 2023-01-31 11762078 d:CurrentFinancialInstruments 2022-01-31 11762078 d:Non-currentFinancialInstruments 2023-01-31 11762078 d:Non-currentFinancialInstruments 2022-01-31 11762078 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11762078 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 11762078 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 11762078 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 11762078 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 11762078 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-01-31 11762078 d:ShareCapital 2023-01-31 11762078 d:ShareCapital 2022-01-31 11762078 d:RetainedEarningsAccumulatedLosses 2023-01-31 11762078 d:RetainedEarningsAccumulatedLosses 2022-01-31 11762078 c:FRS102 2022-02-01 2023-01-31 11762078 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 11762078 c:FullAccounts 2022-02-01 2023-01-31 11762078 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 11762078 d:EntityControlledByKeyManagementPersonnel1 2022-02-01 2023-01-31 11762078 d:EntityControlledByKeyManagementPersonnel1 2023-01-31 11762078 d:EntityControlledByKeyManagementPersonnel1 2022-01-31 11762078 d:EntityControlledByKeyManagementPersonnel2 2022-02-01 2023-01-31 11762078 d:EntityControlledByKeyManagementPersonnel2 2023-01-31 11762078 d:EntityControlledByKeyManagementPersonnel2 2022-01-31 11762078 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-01 2023-01-31 11762078 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-31 11762078 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-01-31 11762078 6 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 11762078









SLOANES INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

 
SLOANES INVESTMENTS LIMITED
REGISTERED NUMBER:11762078

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,535
10,654

Investments
 5 
-
102

Investment property
 6 
4,950,000
3,550,000

  
4,957,535
3,560,756

Current assets
  

Debtors: amounts falling due within one year
 7 
24,693
29,462

Cash at bank and in hand
  
30,540
3,171

  
55,233
32,633

Creditors: amounts falling due within one year
 8 
(112,270)
(114,849)

Net current liabilities
  
 
 
(57,037)
 
 
(82,216)

Total assets less current liabilities
  
4,900,498
3,478,540

Creditors: amounts falling due after more than one year
 9 
(2,145,492)
(2,147,820)

Provisions for liabilities
  

Deferred tax
  
(287,609)
-

  
 
 
(287,609)
 
 
-

Net assets
  
2,467,397
1,330,720


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,467,297
1,330,620

  
2,467,397
1,330,720


Page 1

 
SLOANES INVESTMENTS LIMITED
REGISTERED NUMBER:11762078
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Gojkovic
Director

Date: 28 November 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Sloanes Investments Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 5 Hesper Mews, London, England, SW5 0HH and its registered number is 11762078.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements are prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” as applied in the context of the small entities regime and the Companies Act 2006. 
The company is exempt from the requirement to prepare group accounts on the basis that it qualifies as a small group. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company had net current liabilities of £57,037 (2022 - £82,216) at 31 January 2023. The Director has reviewed the future prospects of the company and its future cash flows and is confident that the company has adequate resources to continue in operational existence for the foreseeable future. In addition, the Director has indicated that he will continue to support the company for a period of at least 12 months from the signing of these financial statements.  On this basis, the financial statements are prepared on a going concern basis.

 
2.3

Revenue

Turnover comprises rentals receivable by the company during the year.
Rental revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.13

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.14

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 -1).

Page 6

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2022
13,980
968
14,948



At 31 January 2023

13,980
968
14,948



Depreciation


At 1 February 2022
4,194
100
4,294


Charge for the year on owned assets
-
323
323


Charge for the year on financed assets
2,796
-
2,796



At 31 January 2023

6,990
423
7,413



Net book value



At 31 January 2023
6,990
545
7,535



At 31 January 2022
9,786
868
10,654

The net book value of assets held under finance leases or hire purchase contracts included in the above is £6,990 (2022 - £9,786).

Page 7

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 February 2022
102


Amounts written off
(102)



At 31 January 2023
-






Net book value



At 31 January 2023
-



At 31 January 2022
102

The subsidiary undertakings have both been dissolved in the year and the cost of investment has been written off to £nil.

Page 8

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 February 2022
3,550,000


Fair value adjustment
1,400,000



At 31 January 2023
4,950,000

The 2023 valuation was made by the director on an open market value for existing use basis.
If the investment property had been accounted for under the historic cost accounting rules it would be included at original cost of £3,550,000 (2022 - £3,550,000).






Page 9

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Debtors

2023
2022
£
£


Other debtors
18,524
29,462

Tax recoverable
6,169
-

24,693
29,462


Other debtors includes a loan to a close family member of the director of £12,080 (2022 - £6,700) which is interest free and repayable on demand.

As at 31 January 2023, the director owed the company £6,444  (2022 - £49,850 owed by company). This loan is interest free, repayable on demand and is included in other debtors.


8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Obligations under finance lease and hire purchase contracts
2,328
2,328

Other creditors
61,594
72,537

Accruals and deferred income
48,348
39,984

112,270
114,849


The hire purchase liability is secured on the asset to which it relates.

As at 31 January 2023, the company owed £35,706 (2022- £22,762 was owed) to a company under common control. This loan is interest free, repayable on demand and included within other creditors.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
2,142,000
2,142,000

Net obligations under finance leases and hire purchase contracts
3,492
5,820

2,145,492
2,147,820


The hire purchase liability is secured on the assets to which it relates.
Other loans of £2,142,000 (2022: £2,142,000) are secured against the company's investment property.

Page 10

 
SLOANES INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Other loans
2,142,000
2,142,000


Page 11