Registered number
07694184
SALENNIX LTD
Filleted Accounts
31 December 2022
SALENNIX LTD
Registered number: 07694184
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 5,175 6,468
Current assets
Debtors 4 81,174 49,784
Investments held as current assets 5 244,865 244,865
Cash at bank and in hand 1,325 41
327,364 294,690
Creditors: amounts falling due within one year 6 (160,874) (155,942)
Net current assets 166,490 138,748
Total assets less current liabilities 171,665 145,216
Creditors: amounts falling due after more than one year 7 (171,000) (171,000)
Net assets/(liabilities) 665 (25,784)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (335) (26,784)
Shareholders' funds 665 (25,784)
The director is 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 director acknowledges his 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.
Leon Anthony Joseph
Director
Approved by the board on 29 September 2023
SALENNIX LTD
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
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 20% on written down value
Fixtures, fittings, tools and equipment 20% on written down value
Motor Vehicles 20% on written down value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2022 9,902 8,000 17,902
At 31 December 2022 9,902 8,000 17,902
Depreciation
At 1 January 2022 5,269 6,165 11,434
Charge for the year 926 367 1,293
At 31 December 2022 6,195 6,532 12,727
Net book value
At 31 December 2022 3,707 1,468 5,175
At 31 December 2021 4,633 1,835 6,468
4 Debtors 2022 2021
£ £
Trade debtors 81,174 49,784
5 Investments held as current assets 2022 2021
£ £
Fair value
Unlisted investments 244,865 244,865
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 2,204 53,394
Taxation and social security costs 100,609 87,143
Pension payable 1,800 945
Other creditors 56,261 14,460
160,874 155,942
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 171,000 171,000
8 Controlling party
The controlling party is Mr. Leon Anthony Joseph who owns 90% of the issued ordinary share capital of the company. The remaining 10% of the share capital is owned by Mrs. Nicola Joseph.
9 Other information
SALENNIX LTD is a private company limited by shares and incorporated in England. Its registered office is:
Suite S7 Rays House
North Circular Road
London
NW10 7XP
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