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REGISTERED NUMBER: 03782035 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SAELOC LIMITED

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SAELOC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D M Knighton
M A Clark
B D Clark



SECRETARY: D M Knighton



REGISTERED OFFICE: Eagle House
28 Billing Road
Northampton
Northamptonshire
NN1 5AJ



REGISTERED NUMBER: 03782035 (England and Wales)



ACCOUNTANTS: DNG Dove Naish LLP
Chartered Accountants
Eagle House
28 Billing Road
Northampton
NN1 5AJ



BANKERS: Natwest Bank Plc
40 Market Square
Wellingborough
Northamptonshire
NN8 1AD

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,851 4,933
Investments 5 171,615 190,405
Investment property 6 88,500 94,500
265,966 289,838

CURRENT ASSETS
Stocks 169,614 82,437
Debtors 7 303,178 294,873
Cash at bank and in hand 505,829 497,829
978,621 875,139
CREDITORS
Amounts falling due within one year 8 622,912 556,606
NET CURRENT ASSETS 355,709 318,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

621,675

608,371

PROVISIONS FOR LIABILITIES 3,388 4,888
NET ASSETS 618,287 603,483

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 - 7,721
Retained earnings 11 618,187 595,662
SHAREHOLDERS' FUNDS 618,287 603,483

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.

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

STATEMENT OF FINANCIAL POSITION - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





D M Knighton - Director


SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


1. STATUTORY INFORMATION

Saeloc 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The company's place of business is 28 Huxley Close, Park Farm Industrial Estate, Wellingborough, Northamptonshire, NN8 6AB

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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of 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.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

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

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Deferred tax is recognised on the gain in revaluation of investment properties.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
Contributions payable to the directors' pension schemes and Group SIPP are charged to the profit and loss account in the period to which they relate.

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


2. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Investments
Listed investments are held at fair value at the balance sheet date with changes in fair value recognised in the income statement and accumulated gains or losses reflected in the Fair Value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 April 2022 36,175 50,699 86,874
Additions - 2,870 2,870
At 31 March 2023 36,175 53,569 89,744
DEPRECIATION
At 1 April 2022 36,175 45,766 81,941
Charge for year - 1,952 1,952
At 31 March 2023 36,175 47,718 83,893
NET BOOK VALUE
At 31 March 2023 - 5,851 5,851
At 31 March 2022 - 4,933 4,933

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022 190,405
Revaluations (18,790 )
At 31 March 2023 171,615
NET BOOK VALUE
At 31 March 2023 171,615
At 31 March 2022 190,405

Listed investments are stated at market value.

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 94,500
Revaluations (6,000 )
At 31 March 2023 88,500
NET BOOK VALUE
At 31 March 2023 88,500
At 31 March 2022 94,500

The investment property is valued at fair value by the Directors as at the balance sheet date.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 298,211 288,920
VAT 9 995
Prepayments and accrued income 4,958 4,958
303,178 294,873

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 556,871 492,267
Tax 54,838 59,801
Social security and other taxes (1,320 ) -
PPT 4,765 -
Other creditors 378 52
Accruals and deferred income 7,380 4,486
622,912 556,606

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 32,776 23,072
Between one and five years 41,524 -
74,300 23,072

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 595,662 7,721 603,383
Profit for the year 214,804 214,804
Dividends (200,000 ) (200,000 )
Reserves transfer 7,721 (7,721 ) -
At 31 March 2023 618,187 - 618,187