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REGISTERED NUMBER: 03804525 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Salix Associates Limited

Salix Associates Limited (Registered number: 03804525)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Salix Associates Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr J A Morris





SECRETARY: Mr J A Morris





REGISTERED OFFICE: 63 Broad Green
Wellingborough
Northamptonshire
NN8 4LQ





REGISTERED NUMBER: 03804525 (England and Wales)





ACCOUNTANTS: Clifford Roberts
63 Broad Green
Wellingborough
Northamptonshire
NN8 4LQ

Salix Associates Limited (Registered number: 03804525)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 8,315 5,686

CURRENT ASSETS
Stocks 26,675 27,500
Debtors 5 87,181 74,560
Cash at bank and in hand 10,582 14,096
124,438 116,156
CREDITORS
Amounts falling due within one year 6 113,071 89,761
NET CURRENT ASSETS 11,367 26,395
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,682

32,081

CREDITORS
Amounts falling due after more than one
year

7

(23,982

)

(27,870

)

PROVISIONS FOR LIABILITIES (2,079 ) (1,422 )
NET (LIABILITIES)/ASSETS (6,379 ) 2,789

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings (6,383 ) 2,785
SHAREHOLDERS' FUNDS (6,379 ) 2,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Salix Associates Limited (Registered number: 03804525)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 November 2023 and were signed by:





Mr J A Morris - Director


Salix Associates Limited (Registered number: 03804525)

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

1. STATUTORY INFORMATION

Salix Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis which assumes the continued support of the director and company bankers.

Revenue
Turnover represents net invoices sale of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

Salix Associates Limited (Registered number: 03804525)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 April 2022 473 15,024 6,800 11,782 34,079
Additions 5,498 1,294 - - 6,792
At 31 March 2023 5,971 16,318 6,800 11,782 40,871
DEPRECIATION
At 1 April 2022 236 13,303 4,648 10,206 28,393
Charge for year 1,741 904 538 980 4,163
At 31 March 2023 1,977 14,207 5,186 11,186 32,556
NET BOOK VALUE
At 31 March 2023 3,994 2,111 1,614 596 8,315
At 31 March 2022 237 1,721 2,152 1,576 5,686

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 35,630 38,014
Other debtors 47,260 36,546
Prepayments and accrued income 1,200 -
Corporation tax debtor 3,091 -
87,181 74,560

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 3,889 3,889
Trade creditors 16,248 10,525
Tax - 3,167
Social security and other taxes - 64
VAT 5,434 9,256
Other creditors 21,191 1,191
Directors' loan accounts 63,734 58,482
Accrued expenses 2,575 3,187
113,071 89,761

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 2-5 years 23,982 27,870

Salix Associates Limited (Registered number: 03804525)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary 1 2 2
1 Ordinary B 1 1 1
1 Ordinary C 1 1 1
4 4