Company registration number 14018511 (England and Wales)
SAL DEVELOPMENT GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
SAL DEVELOPMENT GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SAL DEVELOPMENT GROUP LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
Notes
£
£
Fixed assets
Investment property
3
1,247,303
Current assets
-
Creditors: amounts falling due within one year
4
(1,259,346)
Net current liabilities
(1,259,346)
Net liabilities
(12,043)
Capital and reserves
Called up share capital
1
Profit and loss reserves
(12,044)
Total equity
(12,043)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 19 December 2023
Mr M Patel
Director
Company Registration No. 14018511
SAL DEVELOPMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information

Sal Development Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 76 Birchwood Road, Dartford, DA2 7HG.

1.1
Reporting period

These are the first set of financial statements prepared by the company after the incorporation. Therefore, there are no comparatives included and the financial statements are prepared for the period of one year and 30 days.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Going concern

The company has net liabilities of £12,043 at the balance sheet date. However, most of the long term funding is provided through director loans. The director confirms that he will continue to support the company by not recalling the loan of £1,255,746 within twelve months from the date of approval of the accounts and providing additional financial support when necessary. The director continues to adopt a going concern basis in preparing the financial statements.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
1
SAL DEVELOPMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2023
- 3 -
3
Investment property
2023
£
Fair value
At 1 April 2022
-
0
Additions
1,247,303
At 30 April 2023
1,247,303
4
Creditors: amounts falling due within one year
2023
£
Trade creditors
1,800
Other creditors
1,257,546
1,259,346
2023-04-302022-04-01false19 December 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr Minesh Patel140185112022-04-012023-04-30140185112023-04-3014018511core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3014018511core:CurrentFinancialInstruments2023-04-3014018511core:ShareCapital2023-04-3014018511core:RetainedEarningsAccumulatedLosses2023-04-3014018511bus:Director12022-04-012023-04-30140185112022-03-3114018511bus:PrivateLimitedCompanyLtd2022-04-012023-04-3014018511bus:SmallCompaniesRegimeForAccounts2022-04-012023-04-3014018511bus:FRS1022022-04-012023-04-3014018511bus:AuditExemptWithAccountantsReport2022-04-012023-04-3014018511bus:FullAccounts2022-04-012023-04-30xbrli:purexbrli:sharesiso4217:GBP