Salboy Partnerships Limited 13626842 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true false true 13626842 2022-04-01 2023-03-31 13626842 2023-03-31 13626842 core:RetainedEarningsAccumulatedLosses 2023-03-31 13626842 core:ShareCapital 2023-03-31 13626842 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13626842 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13626842 core:AdditionsToInvestments 2023-03-31 13626842 core:CostValuation 2023-03-31 13626842 bus:SmallEntities 2022-04-01 2023-03-31 13626842 bus:Audited 2022-04-01 2023-03-31 13626842 bus:FullAccounts 2022-04-01 2023-03-31 13626842 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 13626842 bus:RegisteredOffice 2022-04-01 2023-03-31 13626842 bus:Director1 2022-04-01 2023-03-31 13626842 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13626842 1 2022-04-01 2023-03-31 13626842 1 2022-04-01 2023-03-31 13626842 countries:EnglandWales 2022-04-01 2023-03-31 13626842 core:CostValuation 2022-03-31 13626842 2021-09-16 2022-03-31 13626842 2022-03-31 13626842 core:RetainedEarningsAccumulatedLosses 2022-03-31 13626842 core:ShareCapital 2022-03-31 13626842 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 13626842 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 13626842

Salboy Partnerships Limited

Financial Statements

for the Year Ended 31 March 2023

 

Salboy Partnerships Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Salboy Partnerships Limited

(Registration number: 13626842)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

400

300

Current assets

 

Debtors (including £2,923,704 due after one year)

5

46,254,303

2,923,705

Cash at bank and in hand

 

4,997

116

 

46,259,300

2,923,821

Creditors: Amounts falling due within one year

6

(39,953,715)

(3,799)

Net current assets

 

6,305,585

2,920,022

Total assets less current liabilities

 

6,305,985

2,920,322

Creditors: Amounts falling due after more than one year

6

(6,444,389)

(2,935,963)

Net liabilities

 

(138,404)

(15,641)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(138,405)

(15,642)

Shareholders' deficit

 

(138,404)

(15,641)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 September 2023 and signed on its behalf by:
 

.........................................
Mr SA Ismail
Director

 

Salboy Partnerships Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3 Birchwood One Business Park Dewhurst Road
Birchwood
Warrington
WA3 7GB
England

These financial statements were authorised for issue by the Board on 27 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Disclosure of long or short period

The comparative figures cover the period from 16th September 2021 to 31st March 2022 and therefore are not directly comparable to the current year figures which cover a period of twelve months.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that the company is included within the consolidated financial statements of their untimate parent, Salboy Limited.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the parent company. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Audit report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 27 September 2023 was Mr Ian William Biddington, who signed for and on behalf of Alextra Audit Limited.

 

Salboy Partnerships Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Salboy Partnerships Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

4

Investments

2023
£

2022
£

Investments in associates

400

300

Associates

£

Cost

At 1 April 2022

300

Additions

100

At 31 March 2023

400

Carrying amount

At 31 March 2023

400

At 31 March 2022

300

 

Salboy Partnerships Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal Activity

Associate undertaking

2023

2022

Stinders Homes Limited

Ordinary

50%

50%

Development of building projects

Thomas Alexander Homes (Yorkshire) Limited

Ordinary

50%

50%

Development of building projects

Yorkshire Choice Homes Limited

Ordinary

50%

50%

Development of building projects

James Nicholas Homes Limited

Ordinary

50%

50%

Development of building projects

Markden Homes North West Limited

Ordinary

50%

50%

Development of building projects

Roddy New Homes Limited

Ordinary

50%

50%

Development of building projects

Forge UK Homes Limited

Ordinary

50%

-

Development of building projects

North Essex Homes Limited

Ordinary

50%

-

Development of building projects

All companies listed above hold the registered office of:
Unit 3
Birchwood One Business Park
Dewhurst Road
Birchwood
Warrington
England
WA3 7GB
England and Wales

5

Debtors

2023
£

2022
£

Amounts owed by related parties

43,952,535

2,923,704

Other debtors

 

-

1

Prepayments

 

2,301,768

-

 

46,254,303

2,923,705

 

Salboy Partnerships Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,680

-

Owed to group undertakings

39,503,274

-

Accruals and deferred income

448,761

3,499

Other creditors

-

300

39,953,715

3,799

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

-

719,659

Owed to group undertakings

6,444,389

2,216,304

6,444,389

2,935,963

Included within Loans and borrowings is £nil (2022 - £719,659) in relation to a loan which is secured by an all assets debenture over all assets of company including fixed and floating charges on 23 December 2021.

A first legal mortgage was created on 2nd February 2023 by CBRE Loan Services Limited, securing any monies due to them. The legal mortgage created a fixed and floating charge over the company's freehold or leasehold property as well as a floating charge over all the property or undertaking of the company.

7

Parent and ultimate parent undertaking

The parent company is Salboy Limited, a company incorporated in England and Wales, company number 09123542, registered office Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, England, WA3 7GB.

These financial statements are consolidated within the group financial statements of Salboy Limited. Copies of the consolidated financial statements are available on request from Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, England, WA3 7GB.

The directors of Salboy Limited are considered to be the controlling party.

The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.