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REGISTERED NUMBER: 07170897 (England and Wales)



Unaudited Financial Statements

for the Year Ended 31st March 2023

for

Hulme Salvage Limited

Hulme Salvage Limited (Registered number: 07170897)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Hulme Salvage Limited

Company Information
for the Year Ended 31st March 2023







DIRECTOR: K Baines





REGISTERED OFFICE: 6 Manchester Road
Buxton
Derbyshire
SK17 6SB





REGISTERED NUMBER: 07170897 (England and Wales)





ACCOUNTANTS: Laytons
Chartered Accountants
6 Manchester Road
Buxton
Derbyshire
SK17 6SB

Hulme Salvage Limited (Registered number: 07170897)

Abridged Balance Sheet
31st March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,409 8,724

CURRENT ASSETS
Stocks 28,646 79,382
Debtors 1,409 -
Cash at bank 164,547 113,183
194,602 192,565
CREDITORS
Amounts falling due within one year 118,878 90,576
NET CURRENT ASSETS 75,724 101,989
TOTAL ASSETS LESS CURRENT LIABILITIES 83,133 110,713

CREDITORS
Amounts falling due after more than one year 21,667 33,333
NET ASSETS 61,466 77,380

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 61,366 77,280
SHAREHOLDERS' FUNDS 61,466 77,380

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 16th November 2023 and were signed by:




K Baines - Director


Hulme Salvage Limited (Registered number: 07170897)

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

1. STATUTORY INFORMATION

Hulme Salvage 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022 16,973
Disposals (628 )
At 31st March 2023 16,345
DEPRECIATION
At 1st April 2022 8,249
Charge for year 1,308
Eliminated on disposal (621 )
At 31st March 2023 8,936
NET BOOK VALUE
At 31st March 2023 7,409
At 31st March 2022 8,724

Hulme Salvage Limited (Registered number: 07170897)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Totals
£   
COST
At 1st April 2022
and 31st March 2023 10,500
DEPRECIATION
At 1st April 2022
and 31st March 2023 3,575
NET BOOK VALUE
At 31st March 2023 6,925
At 31st March 2022 6,925

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year ended 31st March 2023, the company owed the director £96,628 (2022: £47,221). This loan is interest free and payable on demand.

6. RELATED PARTY DISCLOSURES

The controlling party is K Baines.