2 false false false false false false false false false true false false false false false false No description of principal activity 2020-04-01 Sage Accounts Production Advanced 2020 - FRS102_2019 45,000 3,603 3,603 xbrli:pure xbrli:shares iso4217:GBP 06220530 2020-04-01 2021-03-31 06220530 2021-03-31 06220530 2019-04-01 2020-03-31 06220530 2020-03-31 06220530 core:MotorVehicles 2020-04-01 2021-03-31 06220530 bus:RegisteredOffice 2020-04-01 2021-03-31 06220530 bus:LeadAgentIfApplicable 2020-04-01 2021-03-31 06220530 bus:Director1 2020-04-01 2021-03-31 06220530 bus:Director2 2020-04-01 2021-03-31 06220530 core:WithinOneYear 2021-03-31 06220530 core:WithinOneYear 2020-03-31 06220530 core:MotorVehicles 2021-03-31 06220530 core:AfterOneYear 2021-03-31 06220530 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 06220530 bus:OrdinaryShareClass1 2019-04-01 2020-03-31 06220530 core:ShareCapital 2021-03-31 06220530 core:ShareCapital 2020-03-31 06220530 core:RetainedEarningsAccumulatedLosses 2021-03-31 06220530 core:RetainedEarningsAccumulatedLosses 2020-03-31 06220530 bus:SmallEntities 2020-04-01 2021-03-31 06220530 bus:AuditExemptWithAccountantsReport 2020-04-01 2021-03-31 06220530 bus:AbridgedAccounts 2020-04-01 2021-03-31 06220530 bus:SmallCompaniesRegimeForAccounts 2020-04-01 2021-03-31 06220530 bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31
COMPANY REGISTRATION NUMBER: 06220530
The Salter Partnership Limited
Filleted Unaudited Abridged Financial Statements
31 March 2021
The Salter Partnership Limited
Abridged Financial Statements
Year ended 31st March 2021
Contents
Page
Officers and professional advisers
1
Accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements
2
Abridged statement of financial position
3
Notes to the abridged financial statements
5
The Salter Partnership Limited
Officers and Professional Advisers
The Board of Directors
Ms D Johnson
Mr C Salter
Registered Office
The Old Borough Hall
8 Borough Court
Grammar School Lane
Halesowen
West Midlands
B63 3SW
Accountants
WH Audit Limited
Accountants
The White House
Station Road
West Hagley
Stourbridge
West Midlands
DY9 0NU
Bankers
Barclays Bank plc
68 High Street
Harborne
Birmingham
B17 9NJ
The Salter Partnership Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of The Salter Partnership Limited
Year ended 31st March 2021
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31st March 2021, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
WH Audit Limited Accountants
The White House Station Road West Hagley Stourbridge West Midlands DY9 0NU
19 July 2022
The Salter Partnership Limited
Abridged Statement of Financial Position
31 March 2021
2021
2020
Note
£
£
£
Current assets
Stocks
7
18,000
16,567
Debtors
8
79,525
71,681
Cash at bank and in hand
47,979
12,132
---------
---------
145,504
100,380
Creditors: amounts falling due within one year
9
114,939
98,986
---------
---------
Net current assets
30,565
1,394
--------
-------
Total assets less current liabilities
30,565
1,394
Creditors: amounts falling due after more than one year
10
30,000
--------
-------
Net assets
565
1,394
--------
-------
The Salter Partnership Limited
Abridged Statement of Financial Position (continued)
31 March 2021
2021
2020
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
465
1,294
----
-------
Shareholders funds
565
1,394
----
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31st March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31st March 2021 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 19 July 2022 , and are signed on behalf of the board by:
Mr C Salter
Director
Company registration number: 06220530
The Salter Partnership Limited
Notes to the Abridged Financial Statements
Year ended 31st March 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Borough Hall, 8 Borough Court, Grammar School Lane, Halesowen, West Midlands, B63 3SW.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, and adjusted for work in progress at fee value in line with UITF abstract 40.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
All fixed assets are initially recorded at cost. No depreciation is charged in the year of acquisition.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2021
2020
£
£
Equity dividends on ordinary shares
45,000
18,000
--------
--------
6. Tangible assets
Motor vehicles
Total
£
£
Cost
At 1st April 2020 and 31st March 2021
3,603
3,603
-------
-------
Depreciation
At 1st April 2020 and 31st March 2021
3,603
3,603
-------
-------
Carrying amount
At 31st March 2021
-------
-------
At 31st March 2020
-------
-------
7. Stocks
2021
2020
£
£
Work in progress
18,000
16,567
--------
--------
8. Debtors
2021
2020
£
£
Trade debtors
41,237
31,572
Other debtors
38,288
40,109
--------
--------
79,525
71,681
--------
--------
9. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
24,930
30,255
Accruals and deferred income
2,400
2,401
Corporation tax
18,674
12,781
Social security and other taxes
67,959
53,478
Other creditors
976
71
---------
--------
114,939
98,986
---------
--------
10. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
30,000
--------
----
11. Directors' advances, credits and guarantees
At the year end, the directors' loan was £38,288 (£40,109 - 2020) overdrawn.