2022-10-012023-09-302023-09-30false03102495SALLCO TOOLS 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SALLCO TOOLS LIMITED

Registered Number
03102495
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

SALLCO TOOLS LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

NOLAN, Sally Ann

Registered Address

Unit C Anchor House School Lane
Chandler's Ford
Eastleigh
SO53 4DY

Registered Number

03102495 (England and Wales)
SALLCO TOOLS LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets66,3778,001
6,3778,001
Current assets
Stocks131,420131,420
Debtors23,08614,870
Cash at bank and on hand2,364603
156,870146,893
Creditors amounts falling due within one year9(110,916)(87,717)
Net current assets (liabilities)45,95459,176
Total assets less current liabilities52,33167,177
Creditors amounts falling due after one year10(42,193)(54,931)
Net assets10,13812,246
Capital and reserves
Called up share capital11
Profit and loss account10,13712,245
Shareholders' funds10,13812,246
The financial statements were approved and authorised for issue by the Director on 9 November 2023, and are signed on its behalf by:
NOLAN, Sally Ann
Director
Registered Company No. 03102495
SALLCO TOOLS LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Fixtures and fittings20-
Vehicles25-
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year55
5.Intangible assets

Total

£
Cost or valuation
At 01 October 227,000
At 30 September 237,000
Amortisation and impairment
At 01 October 227,000
At 30 September 237,000
Net book value
At 30 September 23-
At 30 September 22-
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 October 2250,316
At 30 September 2350,316
Depreciation and impairment
At 01 October 2242,315
Charge for year1,624
At 30 September 2343,940
Net book value
At 30 September 236,377
At 30 September 228,001
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
NOLAN, Sally Ann(260)49,74849,4880
(260)49,74849,4880
8.Debtors within one year

2023

2022

££
Trade debtors / trade receivables23,08614,870
Total23,08614,870
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables72,97751,530
Bank borrowings and overdrafts11,89111,527
Amounts owed to related parties-260
Taxation and social security17,28519,875
Other creditors6,0162,675
Accrued liabilities and deferred income2,7471,850
Total110,91687,717
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts42,19354,931
Total42,19354,931
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.