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REGISTERED NUMBER: 04802044 (England and Wales)















SALT MEDIA LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






SALT MEDIA LTD (REGISTERED NUMBER: 04802044)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SALT MEDIA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: N R Cooper
Ms J E Rees





SECRETARY: Ms J E Rees





REGISTERED OFFICE: 24 Castle Street
Barnstaple
DEVON
EX31 1DR





REGISTERED NUMBER: 04802044 (England and Wales)





ACCOUNTANTS: Jane Maynard Limited
T/A Maynard Johns
37 Mill Street
Bideford
DEVON
EX39 2JJ

SALT MEDIA LTD (REGISTERED NUMBER: 04802044)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 1,481
Tangible assets 5 34,729 3,942
34,729 5,423

CURRENT ASSETS
Stocks 18,000 8,000
Debtors 91,969 95,801
Cash at bank and in hand 22,448 41,336
132,417 145,137
CREDITORS
Amounts falling due within one year (92,403 ) (104,213 )
NET CURRENT ASSETS 40,014 40,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

74,743

46,347

CREDITORS
Amounts falling due after more than one year (51,176 ) (32,094 )

PROVISIONS FOR LIABILITIES (9,203 ) (749 )
NET ASSETS 14,364 13,504

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 14,214 13,354
SHAREHOLDERS' FUNDS 14,364 13,504

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 directors acknowledge their 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.

SALT MEDIA LTD (REGISTERED NUMBER: 04802044)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 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 Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





N R Cooper - Director


SALT MEDIA LTD (REGISTERED NUMBER: 04802044)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Salt Media Ltd 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.

Intangible assets
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.

Development costs are being amortised evenly over their estimated useful life of three years.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on cost, 20% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


SALT MEDIA LTD (REGISTERED NUMBER: 04802044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Amounts recoverable on contracts
Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amount received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

SALT MEDIA LTD (REGISTERED NUMBER: 04802044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 26,554
AMORTISATION
At 1 April 2022 25,073
Amortisation for year 1,481
At 31 March 2023 26,554
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 1,481

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 61,091
Additions 39,900
Disposals (5,476 )
At 31 March 2023 95,515
DEPRECIATION
At 1 April 2022 57,149
Charge for year 9,090
Eliminated on disposal (5,453 )
At 31 March 2023 60,786
NET BOOK VALUE
At 31 March 2023 34,729
At 31 March 2022 3,942



SALT MEDIA LTD (REGISTERED NUMBER: 04802044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

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

Totals
£   
COST
Additions 37,095
At 31 March 2023 37,095
DEPRECIATION
Charge for year 7,419
At 31 March 2023 7,419
NET BOOK VALUE
At 31 March 2023 29,676

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan - 4,724

The bank loan was secured by fixed and floating charges over the company's present and future assets.