Silverfin false false 31/01/2024 01/02/2023 31/01/2024 J P Sloan 22/01/2021 R Sloan 22/01/2021 25 October 2024 The principal activity of the Company during the financial year was that of a holding company. 13152933 2024-01-31 13152933 bus:Director1 2024-01-31 13152933 bus:Director2 2024-01-31 13152933 2023-01-31 13152933 core:CurrentFinancialInstruments 2024-01-31 13152933 core:CurrentFinancialInstruments 2023-01-31 13152933 core:Non-currentFinancialInstruments 2024-01-31 13152933 core:Non-currentFinancialInstruments 2023-01-31 13152933 core:ShareCapital 2024-01-31 13152933 core:ShareCapital 2023-01-31 13152933 core:RetainedEarningsAccumulatedLosses 2024-01-31 13152933 core:RetainedEarningsAccumulatedLosses 2023-01-31 13152933 core:LandBuildings 2023-01-31 13152933 core:LandBuildings 2024-01-31 13152933 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-01-31 13152933 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-01-31 13152933 2023-02-01 2024-01-31 13152933 bus:FilletedAccounts 2023-02-01 2024-01-31 13152933 bus:SmallEntities 2023-02-01 2024-01-31 13152933 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13152933 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13152933 bus:Director1 2023-02-01 2024-01-31 13152933 bus:Director2 2023-02-01 2024-01-31 13152933 2022-02-01 2023-01-31 13152933 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Company No: 13152933 (England and Wales)

SLOAN PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

SLOAN PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

SLOAN PROPERTIES LIMITED

BALANCE SHEET

As at 31 January 2024
SLOAN PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 578,553 578,553
Investments 100 100
578,653 578,653
Current assets
Cash at bank and in hand 10 77
10 77
Creditors: amounts falling due within one year 4 ( 376,527) ( 276,542)
Net current liabilities (376,517) (276,465)
Total assets less current liabilities 202,136 302,188
Creditors: amounts falling due after more than one year 5 0 ( 90,772)
Net assets 202,136 211,416
Capital and reserves
Called-up share capital 200 200
Profit and loss account 201,936 211,216
Total shareholders' funds 202,136 211,416

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sloan Properties Limited (registered number: 13152933) were approved and authorised for issue by the Board of Directors on 25 October 2024. They were signed on its behalf by:

J P Sloan
Director
R Sloan
Director
SLOAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
SLOAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sloan Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover consists of dividend income from investments which is recognised when the shareholders' rights to receive payment has been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 February 2023 578,553 578,553
At 31 January 2024 578,553 578,553
Accumulated depreciation
At 01 February 2023 0 0
At 31 January 2024 0 0
Net book value
At 31 January 2024 578,553 578,553
At 31 January 2023 578,553 578,553

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 56,538
Amounts owed to own subsidiaries 63,866 50,679
Amounts owed to directors 311,161 164,557
Accruals 1,500 3,088
Taxation and social security 0 1,680
376,527 276,542

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 0 90,772

Included within current and non-current bank loans is the outstanding amount due on the mortgages relating to the properties held in land and buildings which have a carrying amount of £578,553 ( 2023 - £578,553).