Registered number
04807696
Salnos Limited
Unaudited Filleted Accounts
30 June 2023
Salnos Limited
Registered number: 04807696
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - -
Tangible assets 4 165 207
165 207
Current assets
Stocks 17,442 19,086
Debtors 5 7,075 6,627
Cash at bank and in hand 146 -
24,663 25,713
Creditors: amounts falling due within one year 6 (23,766) (25,852)
Net current assets/(liabilities) 897 (139)
Total assets less current liabilities 1,062 68
Provisions for liabilities (31) (39)
Net assets 1,031 29
Capital and reserves
Called up share capital 25 25
Profit and loss account 1,006 4
Shareholders' funds 1,031 29
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.
Nigel Lloyd
Director
Approved by the board on 16 October 2023
Salnos Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
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 over its expected useful life, as follows:
Plant and machinery 20% reducing balance
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 31,263
Additions -
Disposals -
At 30 June 2023 31,263
Amortisation
At 1 July 2022 31,263
Provided during the year -
On disposals -
At 30 June 2023 31,263
Net book value
At 30 June 2023 -
At 30 June 2022 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 958 - 958
Additions - - -
Disposals - - -
At 30 June 2023 958 - 958
Depreciation
At 1 July 2022 751 - 751
Charge for the year 42 - 42
On disposals - - -
At 30 June 2023 793 - 793
Net book value
At 30 June 2023 165 - 165
At 30 June 2022 207 - 207
5 Debtors 2023 2022
£ £
Trade debtors 7,026 6,627
Other debtors 49 -
7,075 6,627
Amounts due after more than one year included above - -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 3,610
Trade creditors 7,213 8,366
Taxation and social security costs 6,224 4,645
Other creditors 10,329 9,231
23,766 25,852
7 Other information
Salnos Limited is a private company limited by shares and incorporated in England. Its registered office is:
Conway House
Hambledon Road
Denmead
Hampshire
PO7 6QG
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