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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Sloane 18-20 Limited is a private limited liability company registered in England and Wales with its registered office address at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the Company is that of property investment.
The Company's functional and presentational currency is £ Sterling.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The Company had net current liabilities of £643,117 at the balance sheet date (2024 - £660,950). The Company is funded by an interest-free loan of £657,308 (2024: £656,367) from a director, included within creditors due within one year.
The director has confirmed that he does not intend to seek repayment of the balance due to him for at least twelve months from the date of approval of these financial statements, and will continue to provide financial support to the Company as needed to meet its liabilities as they fall due. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Turnover comprises rent receivable during the year, exclusive of Value Added Tax.
Rental income is recognised in the period to which it relates. Rental income received in advance is carried forward as deferred income.
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 reporting date in the countries where the Company operates and generates income.
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