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Company registration number: 08294025







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


SLINGER LIMITED






































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SLINGER LIMITED
 


 
COMPANY INFORMATION


Directors
J J Issa 
M M Issa 
D L E Pecorelli 
G Pecorelli 




Registered number
08294025



Registered office
Executive Office
Pennyhill Park Hotel

London Road

Bagshot

Surrey

GU19 5EU




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


SLINGER LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Statement of Changes in Equity
2
Notes to the Financial Statements
3 - 6


 


SLINGER LIMITED
REGISTERED NUMBER:08294025



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
129,630
129,630

  
129,630
129,630

Current assets
  

Cash at bank and in hand
 5 
18,308
17,756

  
18,308
17,756

Total assets less current liabilities
  
 
 
147,938
 
 
147,386

Creditors: amounts falling due after more than one year
 6 
(161,092)
(161,092)

  

Net liabilities
  
(13,154)
(13,706)


Capital and reserves
  

Called up share capital 
 8 
1
1

Other reserves
  
6,712
6,712

Profit and loss account
  
(19,867)
(20,419)

  
(13,154)
(13,706)


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: 




D L E Pecorelli
Director

Date: 24 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 


SLINGER LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
1
6,712
(16,913)
(10,200)


Comprehensive income for the year

Loss for the year
-
-
(3,506)
(3,506)



At 1 April 2023
1
6,712
(20,419)
(13,706)


Comprehensive income for the year

Profit for the year
-
-
552
552


At 31 March 2024
1
6,712
(19,867)
(13,154)


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


SLINGER LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Slinger Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is disclosed on the company information page.

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 directors are confident that for the foreseeable future, being at least twelve months from the approval of these financial statements, the company will be able to fund its operations and meet its liabilities as they fall due. The accounts have been prepared on a going concern basis accordingly.
At the balance sheet date the company is in a net current asset position of £18,308 (2023 - £17,756) and an overall net liability position of £13,154 (2023 - £13,706). During the year ended 31 March 2024 the company made a small profit of £552 (2023 - loss £3,506).
The company owns a piece of land whose purchase was financed by loans from the company's shareholders. At present there is no intention to develop the land in the short term and, therefore, the level of annual expenses borne by the company is predictable and low.
Based on the level of activity in the company, its current cash position and the terms of existing loan repayment obligations, the directors are of the opinion that risks are being well managed and are not considered to impact the going concern of the company. The level of net current assets of the company is considered comfortably sufficient to meet the very low expenditure expected to be incurred for the year ahead.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

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

  
2.5

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.
Freehold land is not depreciated.

Page 3

 


SLINGER LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 Statement of Financial Position 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.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 4

 


SLINGER LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold land

£



Cost or valuation


At 1 April 2023
129,630



At 31 March 2024

129,630






Net book value



At 31 March 2024
129,630



At 31 March 2023
129,630


5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
18,308
17,756

18,308
17,756



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
161,092
161,092

161,092
161,092


The intercompany loans are unsecured, interest free and repayable in 367 days. The loans are carried at amortised cost using an imputed interest rate of 4%.

Page 5

 


SLINGER LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Other loans
161,092
161,092


161,092
161,092



161,092
161,092



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1

Each ordinary share holds equal voting and dividend rights.



9.


Related party transactions

At the year end there was a loan amount of £89,339 (2023 - £89,339) repayable to The Manor House Hotel (Castle Combe) Limited, one of the joint parent undertakings of the company, and a further loan of £78,465 (2023 - £78,465) repayable to Kids Limited, the other joint parent. The intercompany loans are unsecured, interest free and are repayable in 367 days. The loans are carried at amortised cost using an imputed interest rate of 4%.


10.


Controlling party

The company has joint parent companies, who each own 50% of the issued share capital of the company and therefore the results of the company are not included in the consolidated financial statements of any other company. 
The parent companies are The Manor House Hotel (Castle Combe) Limited, incorporated in England and Wales and Kids Limited, incorporated in the Cayman Islands. There is no ultimate controlling party.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 25 September 2024 by James Hadfield FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6