Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.222023-05-01falseNo description of principal activitytruetruefalse 09987166 2023-05-01 2024-04-30 09987166 2022-05-01 2023-04-30 09987166 2024-04-30 09987166 2023-04-30 09987166 c:Director1 2023-05-01 2024-04-30 09987166 d:CurrentFinancialInstruments 2024-04-30 09987166 d:CurrentFinancialInstruments 2023-04-30 09987166 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 09987166 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 09987166 d:ShareCapital 2024-04-30 09987166 d:ShareCapital 2023-04-30 09987166 d:RetainedEarningsAccumulatedLosses 2024-04-30 09987166 d:RetainedEarningsAccumulatedLosses 2023-04-30 09987166 c:OrdinaryShareClass1 2023-05-01 2024-04-30 09987166 c:OrdinaryShareClass1 2024-04-30 09987166 c:OrdinaryShareClass1 2023-04-30 09987166 c:FRS102 2023-05-01 2024-04-30 09987166 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 09987166 c:FullAccounts 2023-05-01 2024-04-30 09987166 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09987166 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09987166









ACE (SLOANE) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
ACE (SLOANE) LIMITED
REGISTERED NUMBER: 09987166

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
70,400
70,400

Current asset investments
 5 
1,553,000
1,553,000

Cash at bank and in hand
 6 
6,510
10,338

  
1,629,910
1,633,738

Creditors: amounts falling due within one year
 7 
(1,534,745)
(1,537,816)

Net current assets
  
 
 
95,165
 
 
95,922

Total assets less current liabilities
  
95,165
95,922

  

Net assets
  
95,165
95,922


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
95,065
95,822

  
95,165
95,922


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 July 2025.

D J Waylett Esq
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
ACE (SLOANE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Ace (Sloane) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is at First Floor, 73-81 Southwark Bridge Road, London, United Kingdom, SE1 0NQ. The company's principal activity is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Rental income from property leased out under operating leases is recognised in the income statement on a straight-line basis over the term of the lease net of VAT. Lease incentives granted are recognised as an integral part of total rental income.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 2

 
ACE (SLOANE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

  
2.6

Assets held for sale

Non-current assets are classified as held-for-sale if it is highly probably that they will be recovered primarily through sale rather than through continuing use. Such assets are generally measured at the lower of their carrying amount and fair value less costs of sale.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3

 
ACE (SLOANE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Debtors

2024
2023
£
£


Other debtors
70,400
70,400

70,400
70,400



5.


Current asset investments

2024
2023
£
£

Property
1,553,000
1,553,000

1,553,000
1,553,000


The company's property has been recognised at fair value. The directors, who are qualified and experienced in property valuation, continuously monitor the values of properties held by the company by comparison with other properties on the open market, and record the changes in their fair value. This has been supported by an independent valuation carried out on acquisition by Cluttons, Chartered Surveyors. Valuations are performed consistently across all properties in the company's portfolio by valuers selected by the directors based on their knowledge, independence and reputation for valuing assets such as those held by the company. 


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
6,510
10,338

6,510
10,338


Page 4

 
ACE (SLOANE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,163
3,163

Corporation tax
11,504
11,542

Other creditors
1,516,578
1,521,361

Accruals
3,500
1,750

1,534,745
1,537,816



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


 
Page 5