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REGISTERED NUMBER: 04048388 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Sloegrin Limited

Sloegrin Limited (Registered number: 04048388)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Sloegrin Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs A L Sun
Mr W G Zhou





REGISTERED OFFICE: 50 Liverpool Street
Salford
Manchester
M5 4LT





REGISTERED NUMBER: 04048388 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

Sloegrin Limited (Registered number: 04048388)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 273,313 251,927
Investments 5 760,736 760,736
Investment property 6 250,000 200,000
1,284,049 1,212,663

CURRENT ASSETS
Debtors 7 4,523 1,504
Cash at bank 5,352 6,454
9,875 7,958
CREDITORS
Amounts falling due within one year 8 (112,934 ) (567,707 )
NET CURRENT LIABILITIES (103,059 ) (559,749 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,180,990

652,914

CREDITORS
Amounts falling due after more than one
year

9

(4,934,982

)

(4,358,512

)

PROVISIONS FOR LIABILITIES (63,743 ) (47,317 )
NET LIABILITIES (3,817,735 ) (3,752,915 )

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 258,074 208,074
Retained earnings (4,075,909 ) (3,961,089 )
SHAREHOLDERS' FUNDS (3,817,735 ) (3,752,915 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sloegrin Limited (Registered number: 04048388)

Balance Sheet - continued
31 March 2024


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 8 October 2024 and were signed on its behalf by:





Mrs A L Sun - Director


Sloegrin Limited (Registered number: 04048388)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Sloegrin Limited 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 as modified by the revaluation of certain assets.

As at 31st March 2024 the company had net current liabilities of £103,059 (2023: £559,749) and net liabilities of £3,817,735 (2023: £3,752,915). The company is reliant on the support of its directors to pay any remaining liabilities.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

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.

Finanancial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Sloegrin Limited (Registered number: 04048388)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 246,579 18,271 46,182 311,032
Additions 17,735 6,651 - 24,386
At 31 March 2024 264,314 24,922 46,182 335,418
DEPRECIATION
At 1 April 2023 - 16,559 42,546 59,105
Charge for year - 2,091 909 3,000
At 31 March 2024 - 18,650 43,455 62,105
NET BOOK VALUE
At 31 March 2024 264,314 6,272 2,727 273,313
At 31 March 2023 246,579 1,712 3,636 251,927

5. FIXED ASSET INVESTMENTS
Interest
Shares in in other
group participating
undertakings interests Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 100 760,636 760,736
NET BOOK VALUE
At 31 March 2024 100 760,636 760,736
At 31 March 2023 100 760,636 760,736

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 200,000
Revaluations 50,000
At 31 March 2024 250,000
NET BOOK VALUE
At 31 March 2024 250,000
At 31 March 2023 200,000

Sloegrin Limited (Registered number: 04048388)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 40,000
Valuation in 2023 40,000
Valuation in 2024 50,000
Cost 120,000
250,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 120,000 120,000

Investment property was valued on an open market basis on 31 March 2024 by Ms A L Sun .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,388 -
Payments on account - 736
VAT - 768
Prepayments 2,135 -
4,523 1,504

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 100,279 551,133
Social security and other taxes 8,712 9,771
Pension liability 708 817
VAT 450 -
Accrued expenses 2,785 5,986
112,934 567,707

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other Creditors 2,771,030 2,313,422
Amounts owed to group undertakings 1,819,278 1,701,416
Directors' loan accounts 344,674 343,674
4,934,982 4,358,512

Sloegrin Limited (Registered number: 04048388)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Wide Code Industries Limited 2,312,451 2,313,422

Bank loans and overdrafts is secured by way of personal guarantee given by the directors as well as fixed and floating charges over the assets of the Company.

The loan from Wide Code Industries Limited is secured by the properties and assets of the company.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023 208,074
Revaluation of investments 50,000

At 31 March 2024 258,074

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr W G Zhou
Balance outstanding at start of year 343,674 342,238
Amounts advanced 2,000 2,081
Amounts repaid (1,000 ) (645 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 344,674 343,674

13. RELATED PARTY DISCLOSURES

Wide Code Industries Ltd

A company in which the directors have a substantial interest


During the year, Sloegrin Ltd borrowed £971 from Wide Code Industries Ltd.

2024 2023
£    £   
Amount due to related party at the balance sheet date 2,312,451 2,313,422

Sloegrin Limited (Registered number: 04048388)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. RELATED PARTY DISCLOSURES - continued

Sunshine Foreign Trading

A company in which the directors have a substantial interest


During the year Sloegrin Ltd made no payment to Sunshine Foreign Trading.

2024 2023
£    £   
Amount due to related party at the balance sheet date 126,878 126,878

Shuntech Medical Group Ltd

A company in which the directors have a substantial interest


During the year, Shuntech Medical Group Ltd borrowed loan from Sloegrin amounting to £5,541

2024 2023
£    £   
Amount due from related party at the balance sheet date 711,915 706,375

Sun Bright Property Ltd

A company in which the directors have a substantial interest


During the year, Sun Bright Property Ltd made loans to Sloegrin amounting to £123,403.

2024 2023
£    £   
Amount due to related party at the balance sheet date 2,145,921 2,280,913

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mr W G Zhou.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Sloegrin Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sloegrin Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sloegrin Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sloegrin Limited and state those matters that we have agreed to state to the Board of Directors of Sloegrin Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sloegrin Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sloegrin Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sloegrin Limited. You consider that Sloegrin Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sloegrin Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................