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Company Registration No. 14230018 (England and Wales)
Sleek Payments Ltd Unaudited accounts for the year ended 31 December 2024
Sleek Payments Ltd Unaudited accounts Contents
Page
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Sleek Payments Ltd Company Information for the year ended 31 December 2024
Director
Julien Labruyere
Company Number
14230018 (England and Wales)
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Sleek Payments Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Debtors
42 
12,469 
Cash at bank and in hand
4,611 
1,760 
4,653 
14,229 
Creditors: amounts falling due within one year
(343,205)
(6,723)
Net current (liabilities)/assets
(338,552)
7,506 
Total assets less current liabilities
(338,552)
7,506 
Creditors: amounts falling due after more than one year
- 
(302,164)
Net liabilities
(338,552)
(294,658)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(338,652)
(294,758)
Shareholders' funds
(338,552)
(294,658)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 April 2025 and were signed on its behalf by
Julien Labruyere Director Company Registration No. 14230018
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Sleek Payments Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Sleek Payments Ltd is a private company, limited by shares, registered in England and Wales, registration number 14230018.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – Small Entities. The financial statements have not been prepared on a going concern basis. The directors have taken the decision to close down the company, with operations ceasing and the company expected to be struck off on 21 March 2025. As a result, the financial statements have been prepared on a break-up basis, which includes adjustments to the carrying value of assets and liabilities where necessary to reflect their expected realisable or settlement values.
Presentation currency
The accounts are presented in £ sterling.
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Sleek Payments Ltd Notes to the Accounts for the year ended 31 December 2024
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities 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. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using theeffective interest method.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
42 
12,469 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
1,284 
Taxes and social security
1 
330 
Other creditors
343,204 
5,109 
343,205 
6,723 
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Sleek Payments Ltd Notes to the Accounts for the year ended 31 December 2024
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
- 
302,164 
7
Pension commitments
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.
8
Transactions with related parties
Included within creditors are balances due to Sleek Tech Pte Ltd, the parent company, of £182,766.73. Included within creditors are balances due to Sleek Accounting Limited, a company under common control, of £126,120. Included within creditors are balances due to Sleek Technology Ltd, a company under common control, of £34,317.43.
9
Controlling party
Sleek Payments Limited is a wholly owned subsidiary of Sleek Tech PTE Ltd, a company registered in Singapore. The registered office of the Holding Company is 160 ROBINSON ROAD, #14-04, SINGAPORE 068914.
10
Post balance sheet events
On 21 March 2025, the company will cease trading and be formally closed. This decision was made prior to the approval of these financial statements. As the accounts have not been prepared on a going concern basis, the impact of this event has been reflected in the measurement of assets and liabilities as at 31 December 2024.
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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