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REGISTERED NUMBER: 09606113 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 May 2024

for

SL Assets Limited

SL Assets Limited (Registered number: 09606113)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SL Assets Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: R S P Leong





REGISTERED OFFICE: Leofric House
Binley Road
Coventry
CV3 1JN





REGISTERED NUMBER: 09606113 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

SL Assets Limited (Registered number: 09606113)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 394 -
Investment property 5 748,401 748,401
748,795 748,401

CURRENT ASSETS
Debtors 6 1,834 8,408
Cash at bank 15,065 33,600
16,899 42,008
CREDITORS
Amounts falling due within one year 7 462,624 538,733
NET CURRENT LIABILITIES (445,725 ) (496,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

303,070

251,676

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 302,970 251,576
SHAREHOLDERS' FUNDS 303,070 251,676

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

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

The director acknowledges his 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.

SL Assets Limited (Registered number: 09606113)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 December 2024 and were signed by:





R S P Leong - Director


SL Assets Limited (Registered number: 09606113)

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

1. STATUTORY INFORMATION

SL Assets 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

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.

Investment properties, being freehold properties held to earn rental income and for capital appreciation are carried at the most recent valuations.

Investment property disposals are recognised on completion. Profits and losses arising are recognised through the profit or loss account as determined as the difference between the sales proceeds and the carrying amount of the asset.

Investment properties are not depreciated.

Rental income arising from investment properties is accounted for on a straight-line basis over the lease term.

The director is of the opinion that the value of the property has not materially changed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SL Assets Limited (Registered number: 09606113)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023 1,526
Additions 557
At 31 May 2024 2,083
DEPRECIATION
At 1 June 2023 1,526
Charge for year 163
At 31 May 2024 1,689
NET BOOK VALUE
At 31 May 2024 394
At 31 May 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 748,401
NET BOOK VALUE
At 31 May 2024 748,401
At 31 May 2023 748,401

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 7,425
Other debtors 1,834 983
1,834 8,408

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 16,598 14,983
Other creditors 446,026 523,750
462,624 538,733

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £437,996 (2023: £517,229) due to Mr R Leong. This amount is interest free and has no set terms of repayment.

SL Assets Limited (Registered number: 09606113)

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

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Leong.