REGISTERED NUMBER: |
SALTER & SON LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2022 |
REGISTERED NUMBER: |
SALTER & SON LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2022 |
SALTER & SON LIMITED (REGISTERED NUMBER: 00604930) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2022 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 3 |
SALTER & SON LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2022 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
2 Tower House |
Hoddesdon |
Hertfordshire |
EN11 8UR |
SALTER & SON LIMITED (REGISTERED NUMBER: 00604930) |
BALANCE SHEET |
31 MAY 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | 8 |
Shareholders' funds |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SALTER & SON LIMITED (REGISTERED NUMBER: 00604930) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2022 |
1. | Statutory information |
Salter & Son Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Investment property |
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. |
Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Investment property |
Total |
£ |
Fair value |
At 1 June 2021 |
Revaluations | (187,500 | ) |
At 31 May 2022 |
Net book value |
At 31 May 2022 |
At 31 May 2021 |
Included in fair value of investment property is freehold land of £ 700,000 (2021 - £ 700,000 ) which is not depreciated. |
Fair value at 31 May 2022 is represented by: |
£ |
Valuation in 2017 | 700,000 |
Valuation in 2018 | 312,500 |
Valuation in 2022 | (187,500 | ) |
825,000 |
SALTER & SON LIMITED (REGISTERED NUMBER: 00604930) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2022 |
5. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
Directors' loan accounts | 12,887 | 16,682 |
Prepayments |
6. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Corporation tax payable |
PAYE control account | 42 | 91 |
Other creditors |
Accrued expenses |
Deferred income | 980 | - |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
8. | Reserves |
Retained |
earnings |
£ |
At 1 June 2021 |
Deficit for the year | ( |
) |
Dividends | ( |
) |
At 31 May 2022 |