Slick Properties Limited - Filleted accounts

Registered number

09385460

Slick Properties Limited

Filleted Accounts

31 March 2025

Slick Properties Limited
Registered number:		09385460
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		14,129,371			12,430,607

Current assets
Debtors	4	489,699			268,435
Cash at bank and in hand		19,472			18,451
		509,171			286,886

Creditors: amounts falling due within one year	5	(9,158,758)			(6,908,328)

Net current liabilities			(8,649,587)			(6,621,442)

Total assets less current liabilities			5,479,784			5,809,165

Creditors: amounts falling due after more than one year	6		(625,432)			(674,114)

Provisions for liabilities			(1,000,000)			(1,000,000)


Net assets			3,854,352			4,135,051

Capital and reserves
Called up share capital			100			100
Revaluation reserve	7		3,449,200			3,449,200
Profit and loss account			405,052			685,751

Shareholders' funds			3,854,352			4,135,051

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




I M Jain
Director
Approved by the board on 26 November 2025

Slick Properties Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention, modified to include some assets at the revalued amount and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the rent and other service charge received or receivable, net of discounts and value added taxes. Turnover comprises of rent and other charges receivable under the tenancy and lease agreement and is recognised when they are due.


	Tangible fixed assets - Plant and machinery
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 5 years

	Tangible fixed assets - investment property

	Land and building include freehold property and is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Additionally provision for corporation tax is also made for the taxation that may be payable on the directors loan and overdrawn.
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

	Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					2		2


3	Tangible fixed assets
		Freehold land and building - residential letting		Freehold land and building - commercial letting		Plant and machinery		Total
£			£		£		£
	Cost
	At 1 April 2024	6,000,000		6,400,000		80,129		12,480,129
	Additions	-		1,703,355		-		1,703,355
	At 31 March 2025	6,000,000		8,103,355		80,129		14,183,484

	Depreciation
	At 1 April 2024	-		-		49,522		49,522
	Charge for the year	-		-		4,591		4,591
	At 31 March 2025	-		-		54,113		54,113

	Net book value
	At 31 March 2025	6,000,000		8,103,355		26,016		14,129,371
	At 31 March 2024	6,000,000		6,400,000		30,607		12,430,607


4	Debtors					2025		2024
£							£

	Debtors and prepayment					58,995		7,240
	Corporation tax recoverable					28,803		43,007
	Directors account					401,901		218,188
						489,699		268,435
	Directors' account remain overdrawn during the year. Interest at the rate of 2.25% is charged on the amount outstanding.
	Interest amounting to £7,830 has been charged to the directors which have been paid back to the company.

5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loan repayable within 12 months					80,724		112,766
	Creditors					64,751		86,701
	Other creditors					8,903,160		6,655,078
	Taxation and social security costs					36,484		52,868
	Corporation tax					73,639		915
						9,158,758		6,908,328


6	Loan					2025		2024
£							£
	Bank loan
	Amounts payable otherwise than by instalment falling due for payment after more than five years					625,432		674,114


7	Revaluation reserve					2025		2024
£							£

	At 1 April 2024					3,449,200		1,456,800
	Gain on revaluation of land and buildings					-		2,619,200
	Deferred taxation arising on the revaluation of land and buildings					-		(626,800)

	At 31 March 2025					3,449,200		3,449,200


8	Other information

	Slick Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: Outer Ground Floor, Paxton Terrace no.8 Grosvenor Road London SW1V 3DA