Registered number
13592986
So Salsa Castle Street 23 Limited
Filleted Accounts
31 March 2023
So Salsa Castle Street 23 Limited
Registered number: 13592986
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 42,131 48,687
Current assets
Cash at bank and in hand 87,119 113,223
Creditors: amounts falling due within one year 4 (132,579) (170,540)
Net current liabilities (45,460) (57,317)
Net liabilities (3,329) (8,630)
Capital and reserves
Called up share capital 100 100
Profit and loss account (3,429) (8,730)
Shareholders' funds (3,329) (8,630)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P M Knight
Director
Approved by the board on 1 December 2023
So Salsa Castle Street 23 Limited
Notes to the Accounts
for the period from 1 September 2022 to 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Motor Vehicle 20% RBM
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 729 48,150 48,879
At 31 March 2023 729 48,150 48,879
Depreciation
At 1 September 2022 60 132 192
Charge for the period 162 6,394 6,556
At 31 March 2023 222 6,526 6,748
Net book value
At 31 March 2023 507 41,624 42,131
At 31 August 2022 669 48,018 48,687
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 59,420 71,441
Amounts owed to group undertakings and undertakings in which the company has a participating interest 49,539 45,000
Taxation and social security costs 22,700 53,199
Other creditors 920 900
132,579 170,540
5 Other information
So Salsa Castle Street 23 Limited is a private company limited by shares and incorporated in England. Its registered office is:
Building 18 Gateway 1000
Whittle Way, Arlington Business Park
Stevenage
Hertfordshire
SG1 2FP
So Salsa Castle Street 23 Limited 13592986 false 2022-09-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 P M Knight No description of principal activity 13592986 2021-08-31 2022-08-31 13592986 core:WithinOneYear 2022-08-31 13592986 core:ShareCapital 2022-08-31 13592986 core:RetainedEarningsAccumulatedLosses 2022-08-31 13592986 2022-09-01 2023-03-31 13592986 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-03-31 13592986 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-03-31 13592986 bus:Director40 2022-09-01 2023-03-31 13592986 1 2022-09-01 2023-03-31 13592986 2 2022-09-01 2023-03-31 13592986 core:PlantMachinery 2022-09-01 2023-03-31 13592986 core:Vehicles 2022-09-01 2023-03-31 13592986 countries:England 2022-09-01 2023-03-31 13592986 bus:FRS102 2022-09-01 2023-03-31 13592986 bus:FullAccounts 2022-09-01 2023-03-31 13592986 2023-03-31 13592986 core:WithinOneYear 2023-03-31 13592986 core:ShareCapital 2023-03-31 13592986 core:RetainedEarningsAccumulatedLosses 2023-03-31 13592986 core:PlantMachinery 2023-03-31 13592986 core:Vehicles 2023-03-31 13592986 2022-08-31 13592986 core:PlantMachinery 2022-08-31 13592986 core:Vehicles 2022-08-31 iso4217:GBP xbrli:pure