Registered number
10799193
SO Salsa 23 Limited
Filleted Accounts
31 March 2023
SO Salsa 23 Limited
Registered number: 10799193
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 8,333 33,333
Tangible assets 4 95,581 113,616
103,914 146,949
Current assets
Stocks 1,604 1,604
Debtors 5 357,867 357,867
Cash at bank and in hand 30,928 46,813
390,399 406,284
Creditors: amounts falling due within one year 6 (107,256) (151,998)
Net current assets 283,143 254,286
Total assets less current liabilities 387,057 401,235
Creditors: amounts falling due after more than one year 7 (31,411) (45,917)
Provisions for liabilities (18,160) (21,587)
Net assets 337,486 333,731
Capital and reserves
Called up share capital 100 100
Profit and loss account 337,386 333,631
Shareholders' funds 337,486 333,731
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.
G Peters
Director
Approved by the board on 1 December 2023
SO Salsa 23 Limited
Notes to the Accounts
for the year ended 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings, tools and equipment 25% RBM
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 150,000
At 31 March 2023 150,000
Amortisation
At 1 April 2022 116,667
Provided during the year 25,000
At 31 March 2023 141,667
Net book value
At 31 March 2023 8,333
At 31 March 2022 33,333
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Leasehold Improvements Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 75,763 49,965 125,728
Additions - 1,493 1,493
At 31 March 2023 75,763 51,458 127,221
Depreciation
At 1 April 2022 7,576 4,536 12,112
Charge for the year 7,576 11,952 19,528
At 31 March 2023 15,152 16,488 31,640
Net book value
At 31 March 2023 60,611 34,970 95,581
At 31 March 2022 68,187 45,429 113,616
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 270,000 270,000
Other debtors 87,867 87,867
357,867 357,867
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,400 11,218
Trade creditors 32,963 30,608
Taxation and social security costs 30,369 38,399
Other creditors 37,524 71,773
107,256 151,998
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 31,411 45,917
8 Other information
SO Salsa 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 23 Limited 10799193 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 G Peters No description of principal activity 10799193 2021-04-01 2022-03-31 10799193 core:WithinOneYear 2022-03-31 10799193 core:AfterOneYear 2022-03-31 10799193 core:ShareCapital 2022-03-31 10799193 core:RetainedEarningsAccumulatedLosses 2022-03-31 10799193 2022-04-01 2023-03-31 10799193 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10799193 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10799193 bus:Director40 2022-04-01 2023-03-31 10799193 1 2022-04-01 2023-03-31 10799193 2 2022-04-01 2023-03-31 10799193 core:Goodwill 2022-04-01 2023-03-31 10799193 core:LandBuildings 2022-04-01 2023-03-31 10799193 core:PlantMachinery 2022-04-01 2023-03-31 10799193 countries:England 2022-04-01 2023-03-31 10799193 bus:FRS102 2022-04-01 2023-03-31 10799193 bus:FullAccounts 2022-04-01 2023-03-31 10799193 2023-03-31 10799193 core:WithinOneYear 2023-03-31 10799193 core:AfterOneYear 2023-03-31 10799193 core:ShareCapital 2023-03-31 10799193 core:RetainedEarningsAccumulatedLosses 2023-03-31 10799193 core:Goodwill 2023-03-31 10799193 core:LandBuildings 2023-03-31 10799193 core:PlantMachinery 2023-03-31 10799193 2022-03-31 10799193 core:Goodwill 2022-03-31 10799193 core:LandBuildings 2022-03-31 10799193 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure