Salomon Property Ltd - Filleted accounts

Registered number

11761179

Salomon Property Ltd

Filleted Accounts

31 January 2023

Salomon Property Ltd
Registered number:		11761179
Balance Sheet
as at 31 January 2023

Notes			2023			2022
£				£
Fixed assets
Tangible assets	3		111,180			204,262

Current assets
Cash at bank and in hand		35,312			643

Creditors: amounts falling due within one year	4	(157,749)			(154,276)

Net current liabilities			(122,437)			(153,633)

Total assets less current liabilities			(11,257)			50,629

Creditors: amounts falling due after more than one year	5		-			(67,050)



Net liabilities			(11,257)			(16,421)

Capital and reserves
Called up share capital			2			2
Profit and loss account			(11,259)			(16,423)

Shareholders' funds			(11,257)			(16,421)

The directors are 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 directors acknowledge their 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.




Mr R Salomon
Director
Approved by the board on 4 October 2023

Salomon Property Ltd
Notes to the Accounts
for the year ended 31 January 2023


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.

	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:

	Freehold buildings	not depreciated
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	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.


2	Employees		2023		2022
Number				Number

	Average number of persons employed by the company		2		2


3	Tangible fixed assets
					Land and buildings
£
	Cost
	At 1 February 2022				204,262
	Disposals				(93,082)
	At 31 January 2023				111,180

	Depreciation
	At 31 January 2023				-

	Net book value
	At 31 January 2023				111,180
	At 31 January 2022				204,262


4	Creditors: amounts falling due within one year		2023		2022
£				£

	Other creditors		157,749		154,276


5	Creditors: amounts falling due after one year		2023		2022
£				£

	Bank loans		-		67,050


6	Other information

	Salomon Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	5 Redvers Avenue
	Hooton
	Ellesmere Port
	Cheshire
	CH66 6AJ

7	Charges

	A charge was held by Charter Court Financial Services Limited in respect of the mortgage owed to Precise Mortgages on owned property 46 Oldfield Road, this was satisified on 24th November 2022.