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REGISTERED NUMBER: 13656521 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SLEEK TECHNOLOGY LTD

SLEEK TECHNOLOGY LTD (REGISTERED NUMBER: 13656521)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SLEEK TECHNOLOGY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Labruyere
E J Kirkby





REGISTERED OFFICE: 205 Regent Street
London
Greater London
W1B 4HB





REGISTERED NUMBER: 13656521 (England and Wales)





AUDITORS: Ad Valorem Audit Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

SLEEK TECHNOLOGY LTD (REGISTERED NUMBER: 13656521)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
(Unaudited)
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 20,803 33,942
20,803 33,942

CURRENT ASSETS
Debtors 6 44,558 52,516
Cash at bank 55,982 19,636
100,540 72,152
CREDITORS
Amounts falling due within one year 7 2,085,867 948,584
NET CURRENT LIABILITIES (1,985,327 ) (876,432 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,964,524

)

(842,490

)

CREDITORS
Amounts falling due after more than one
year

8

725,956

594,109
NET LIABILITIES (2,690,480 ) (1,436,599 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,690,580 ) (1,436,699 )
(2,690,480 ) (1,436,599 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





J Labruyere - Director


SLEEK TECHNOLOGY LTD (REGISTERED NUMBER: 13656521)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Sleek Technology Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of nil years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 33% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SLEEK TECHNOLOGY LTD (REGISTERED NUMBER: 13656521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
Additions 193,728
Impairments (193,728 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Land and
buildings
£
COST
At 1 January 2023
and 31 December 2023 39,417
DEPRECIATION
At 1 January 2023 5,475
Charge for year 13,139
At 31 December 2023 18,614
NET BOOK VALUE
At 31 December 2023 20,803
At 31 December 2022 33,942

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£ £
Trade debtors 8,693 8,567
Amounts owed by group undertakings 13,274 35,687
Other debtors 22,591 8,262
44,558 52,516

SLEEK TECHNOLOGY LTD (REGISTERED NUMBER: 13656521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£ £
Hire purchase contracts 13,326 -
Trade creditors 4,106 6,946
Amounts owed to group undertakings 1,975,817 813,308
Taxation and social security 35,305 70,853
Other creditors 57,313 57,477
2,085,867 948,584

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
(Unaudited)
£ £
Hire purchase contracts 7,992 34,186
Amounts owed to group undertakings 717,964 559,923
725,956 594,109

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Zubair Arshad FCCA, ACA (Senior Statutory Auditor)
for and on behalf of Ad Valorem Audit Services Limited

10. RELATED PARTY DISCLOSURES

Included within creditors are balances due to Sleek Tech Pte Ltd, the parent company, of £1,217,005 (2022: £649,847).

Included within creditors are balances due to Sleek Accounting Limited, a company under common control, of £1,174,420 (2022: £565,045).

Included within creditors are balances due to Sleek Tech Pty Ltd, a company under common control, of £2,355 (2022: nil).

Included within creditors are balances due to Sleek Technology Holdings Pte Ltd, the ultimate controlling party, of £300,000 (2022: nil).

Included within debtors are balances due from Sleek Payments Limited, a company under common control, of £13,274 (2022: nil).