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Registered number: 14709886
S.L.N. Homes Ltd
Unaudited Financial Statements
For the Period 6 March 2023 to 31 March 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14709886
31 March 2024
Notes £ £
FIXED ASSETS
Investment Properties 4 1,181,549
1,181,549
CURRENT ASSETS
Debtors 5 5,068
Cash at bank and in hand 3,255
8,323
Creditors: Amounts Falling Due Within One Year 6 (724,435 )
NET CURRENT ASSETS (LIABILITIES) (716,112 )
TOTAL ASSETS LESS CURRENT LIABILITIES 465,437
Creditors: Amounts Falling Due After More Than One Year 7 (482,913 )
NET LIABILITIES (17,476 )
CAPITAL AND RESERVES
Called up share capital 9 1
Profit and Loss Account (17,477 )
SHAREHOLDERS' FUNDS (17,476)
Page 1
Page 2
For the period ending 31 March 2024 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr. Krishna Vemulapalli
Director
13/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
S.L.N. Homes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14709886 . The registered office is 4a Freeman Way, Hornchurch, RM11 3PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Investment Property
31 March 2024
£
Fair Value
As at 6 March 2023 -
Additions 1,181,549
As at 31 March 2024 1,181,549
5. Debtors
31 March 2024
£
Due within one year
Other debtors 5,068
6. Creditors: Amounts Falling Due Within One Year
31 March 2024
£
Other creditors 724,435
Page 3
Page 4
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024
£
Bank loans 482,913
8. Secured Creditors
Of the creditors the following amounts are secured.
31 March 2024
£
Bank loans and overdrafts 482,913
9. Share Capital
31 March 2024
£
Allotted, Called up and fully paid 1
10. Ultimate Controlling Party
There is no controlling party as the shares in the companies parent are held in equal proportions.
Page 4