Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falsetrue2Consultancy and real estate services2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08241747 2022-11-01 2023-10-31 08241747 2023-10-31 08241747 2021-11-01 2022-10-31 08241747 2022-10-31 08241747 c:Director2 2022-11-01 2023-10-31 08241747 d:FreeholdInvestmentProperty 2023-10-31 08241747 d:FreeholdInvestmentProperty 2022-10-31 08241747 d:CurrentFinancialInstruments 2023-10-31 08241747 d:CurrentFinancialInstruments 2022-10-31 08241747 d:Non-currentFinancialInstruments 2023-10-31 08241747 d:Non-currentFinancialInstruments 2022-10-31 08241747 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 08241747 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 08241747 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 08241747 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 08241747 d:ShareCapital 2023-10-31 08241747 d:ShareCapital 2022-10-31 08241747 d:RetainedEarningsAccumulatedLosses 2023-10-31 08241747 d:RetainedEarningsAccumulatedLosses 2022-10-31 08241747 c:FRS102 2022-11-01 2023-10-31 08241747 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08241747 c:FullAccounts 2022-11-01 2023-10-31 08241747 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08241747 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Registered number: 08241747


THE SLEEVE INVESTMENT LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
THE SLEEVE INVESTMENT LTD
REGISTERED NUMBER: 08241747

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
94,583
94,583

  
94,583
94,583

Current assets
  

Debtors: amounts falling due within one year
 5 
2,953
2,953

Cash at bank and in hand
 6 
46
889

  
2,999
3,842

Creditors: amounts falling due within one year
 7 
(8,338)
(4,624)

Net current liabilities
  
 
 
(5,339)
 
 
(782)

Total assets less current liabilities
  
89,244
93,801

Creditors: amounts falling due after more than one year
 8 
(174,905)
(176,186)

  

Net liabilities
  
(85,661)
(82,385)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(86,661)
(83,385)

  
(85,661)
(82,385)


Page 1

 
THE SLEEVE INVESTMENT LTD
REGISTERED NUMBER: 08241747
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider 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 directors acknowledge their 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 income and retained earnings 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: 




Marco Aurelio Lorenzana Sanchez
Director

Date: 30 July 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
THE SLEEVE INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Company was incorporated in England being part of the United Kingdom and it's registered office is 8 King Edward Street, Oxford, OX1 4HL, United Kingdom.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Board of Directors of the Company is of the opinion that the accounts have been prepared on a going concern.
The Board of Directors has a reasonable expectation that the Company has adequate resources to continue its operations for a period of at least 12 months from the date that the financial statements are approved. The key method for assessing going concern is through the business planning process which considers profitability, liquidity and solvency. The business planning process considers the Company's business activities, together with factors likely to affect its future development, successful performance and position, and key risks in the current economic climate. 
Whilst full financial implications are not yet known, the Directors have confirmed that they will continue to support the Company and ensure it continues to trade for the foreseeable future.

Page 3

 
THE SLEEVE INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
THE SLEEVE INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 5

 
THE SLEEVE INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 6

 
THE SLEEVE INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 7

 
THE SLEEVE INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2022
94,583



At 31 October 2023
94,583

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
116,636
116,636

116,636
116,636


5.


Debtors

2023
2022
£
£


Other debtors
2,953
2,953

2,953
2,953



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
46
889

46
889


Page 8

 
THE SLEEVE INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
6,538
2,824

Accruals and deferred income
1,800
1,800

8,338
4,624



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to investor
174,905
176,186

174,905
176,186


The loan is secured against the underlying property financed.

 
Page 9