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Registration number: 11856598

SL1 ASSET MANAGEMENT LTD

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

SL1 ASSET MANAGEMENT LTD

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

SL1 ASSET MANAGEMENT LTD

Company Information

Director

Ms Svetlana Lomovtseva

Registered office

5th Floor
86 Jermyn Street
London
SW1Y 6AW

Accountants

Verfides
5th Floor
86 Jermyn Street
London
SW1Y 6AW

 

SL1 ASSET MANAGEMENT LTD

(Registration number: 11856598)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

221

331

Other financial assets

5

180

180

 

401

511

Current assets

 

Debtors

-

126,597

Cash at bank and in hand

 

1,256,773

726,761

 

1,256,773

853,358

Prepayments and accrued income

 

-

572

Creditors: Amounts falling due within one year

(356,124)

19,254

Net current assets

 

900,649

873,184

Total assets less current liabilities

 

901,050

873,695

Accruals and deferred income

 

(289)

(1,044)

Net assets

 

900,761

872,651

Capital and reserves

 

Called up share capital

100

100

Retained earnings

900,661

872,551

Shareholders' funds

 

900,761

872,651

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

SL1 ASSET MANAGEMENT LTD

(Registration number: 11856598)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the director on 23 September 2024
 

.........................................

Ms Svetlana Lomovtseva

Director

 

SL1 ASSET MANAGEMENT LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
5th Floor
86 Jermyn Street
London
SW1Y 6AW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Pounds Sterling which is the functional currency of the company and are rounded to the nearest whole Pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

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 taxable income.

 

SL1 ASSET MANAGEMENT LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

 

SL1 ASSET MANAGEMENT LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

1,765

1,765

At 31 December 2023

1,765

1,765

Depreciation

At 1 January 2023

1,434

1,434

Charge for the year

110

110

At 31 December 2023

1,544

1,544

Carrying amount

At 31 December 2023

221

221

At 31 December 2022

331

331

5

Other financial assets (current and non-current)

Total
£

Non-current financial assets

Cost or valuation

FA investment

180

At 31 December 2023

180

Carrying amount

At 31 December 2023

180

 

SL1 ASSET MANAGEMENT LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Dividends

Interim dividends paid

 

2023
£

2022
£

Interim dividend of £2,402.56 (2022 - £739.35) per Ordinary shares share

240,256

73,935

     

7

Related party transactions

Summary of transactions with other related parties

At the year end the shareholders owed the company Nil (2022 - £109,054)

Ms Svetlana Lomovtseva, the director, is the controlling party by virtue of owning all the share capital in the company.