Sloane Design Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08213602 (England and Wales)

Sloane Design Limited

Unaudited Financial Statements for the Year Ended 30 September 2020

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

5,380

-

CURRENT ASSETS

Cash at bank

107,267

79

CREDITORS

Amounts falling due within one year

5

61,906

41,593

NET CURRENT ASSETS/(LIABILITIES)

45,361

(41,514

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,741

(41,514

)

PROVISIONS FOR LIABILITIES

1,022

-

NET ASSETS/(LIABILITIES)

49,719

(41,514

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

48,719

(42,514

)

49,719

(41,514

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2021 and were signed on its behalf by:

Miss J Balchandani - Director

Miss C Vaswani - Director

1.	STATUTORY INFORMATION

Sloane Design Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08213602

Registered office:

32 Chalfont Court

236 Baker Street

London

NW1 5RS

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

6,329

At 30 September 2020

6,329

DEPRECIATION

Charge for year

949

At 30 September 2020

949

NET BOOK VALUE

At 30 September 2020

5,380

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade creditors

(1

)

(1

)

Taxation and social security

38,338

-

Other creditors

23,569

41,594

61,906

41,593

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2020 and 30 September 2019:

30.9.20

30.9.19

£

£

Miss J Balchandani and Miss C Vaswani

Balance outstanding at start of year

35,944

40,017

Amounts advanced

68,176

18,841

Amounts repaid

(87,001

)

(22,914

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,119

35,944