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Registered Number: 14305982
England and Wales

 

 

 

SALGUEIRO FINANCIAL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 19 August 2022

End date: 31 August 2023
Director Ripley Sidney Tate Salgueiro
Registered Number 14305982
Registered Office 8 Matthew Street
Reigate
Surrey
RH2 8ES
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 August 2023.
Principal activities
The principal activity of the company during the financial period was of the activities of a mortgage advisor and other legal activities.
Director
The director who served the company throughout the period was as follows:
Ripley Sidney Tate Salgueiro
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Ripley Sidney Tate Salgueiro
Director

Date approved: 25 October 2023
2
Report to the director on the preparation of the unaudited statutory accounts of Salgueiro Financial Ltd for the year ended 31 August 2023.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Salgueiro Financial Ltd for the year ended 31 August 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Salgueiro Financial Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Salgueiro Financial Ltd and state those matters that we have agreed to state to the Board of Directors of Salgueiro Financial Ltd, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Salgueiro Financial Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Salgueiro Financial Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Salgueiro Financial Ltd.You consider that Salgueiro Financial Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit of the accounts of Salgueiro Financial Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 August 2023.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
25 October 2023
3
 
 
Notes
 
2023
£
Turnover 110,009 
Cost of sales (11,482)
Gross profit 98,527 
Administrative expenses (14,106)
Operating profit 84,421 
Profit/(Loss) on ordinary activities before taxation 84,421 
Tax on profit on ordinary activities (17,031)
Profit/(Loss) for the financial period 67,390 
 
4
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 1,740 
1,740 
Current assets    
Debtors 4 40,000 
Cash at bank and in hand 118 
40,118 
Creditors: amount falling due within one year 5 (18,967)
Net current assets 21,151 
 
Total assets less current liabilities 22,891 
Net assets 22,891 
 

Capital and reserves
   
Called up share capital 6 1 
Profit and loss account 22,890 
Shareholder's funds 22,891 
 


For the period ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 25 October 2023 and were signed by:


-------------------------------
Ripley Sidney Tate Salgueiro
Director
5
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 19 August 2022
Profit for the period 67,390  67,390 
Total comprehensive income for the period 67,390  67,390 
Dividends (44,500) (44,500)
Shares issued 1 
Total investments by and distributions to owners 1  (44,500) (44,499)
At 31 August 2023 1  22,890  22,891 
6
General Information
Salgueiro Financial Ltd is a private company, limited by shares, registered in England and Wales, registration number 14305982, registration address 8 Matthew Street, Reigate, Surrey, RH2 8ES.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Bicycle 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Average number of employees

Average number of employees during the period was 1.
3.

Tangible fixed assets

Cost or valuation Bicycle   Computer Equipment   Total
  £   £   £
At 19 August 2022    
Additions 1,311    1,009    2,320 
Disposals    
At 31 August 2023 1,311    1,009    2,320 
Depreciation
At 19 August 2022    
Charge for period 328    252    580 
On disposals    
At 31 August 2023 328    252    580 
Net book values
Closing balance as at 31 August 2023 983    757    1,740 
Opening balance as at 19 August 2022    


4.

Debtors: amounts falling due within one year

2023
£
Other Debtors 40,000 
40,000 

5.

Creditors: amount falling due within one year

2023
£
Corporation Tax 17,031 
PAYE & Social Security 200 
Other Creditors 1,440 
Directors Current Account 296 
18,967 

6.

Share Capital

Allotted, called up and fully paid
2023
£
1 Class A share of £1.00 each

7