0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,584,050 2,584,050 2,584,050 xbrli:pure xbrli:shares iso4217:GBP 10193594 2022-06-01 2023-05-31 10193594 2023-05-31 10193594 2022-05-31 10193594 2021-06-01 2022-05-31 10193594 2022-05-31 10193594 2021-05-31 10193594 bus:Director1 2022-06-01 2023-05-31 10193594 core:WithinOneYear 2023-05-31 10193594 core:WithinOneYear 2022-05-31 10193594 core:AfterOneYear 2023-05-31 10193594 core:AfterOneYear 2022-05-31 10193594 core:ShareCapital 2023-05-31 10193594 core:ShareCapital 2022-05-31 10193594 core:RetainedEarningsAccumulatedLosses 2023-05-31 10193594 core:RetainedEarningsAccumulatedLosses 2022-05-31 10193594 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 10193594 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 10193594 bus:SmallEntities 2022-06-01 2023-05-31 10193594 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 10193594 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 10193594 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10193594 bus:FullAccounts 2022-06-01 2023-05-31
COMPANY REGISTRATION NUMBER: 10193594
SALBERT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 May 2023
SALBERT LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
2,584,050
2,584,050
CURRENT ASSETS
Debtors
5
1,086,954
528,145
Cash at bank and in hand
49,935
19,223
------------
---------
1,136,889
547,368
CREDITORS: amounts falling due within one year
6
( 222,520)
( 115,443)
------------
---------
NET CURRENT ASSETS
914,369
431,925
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
3,498,419
3,015,975
CREDITORS: amounts falling due after more than one year
7
( 1,450,000)
( 1,010,481)
------------
------------
NET ASSETS
2,048,419
2,005,494
------------
------------
CAPITAL AND RESERVES
Called up share capital
1,528,427
1,528,427
Profit and loss account
519,992
477,067
------------
------------
SHAREHOLDERS FUNDS
2,048,419
2,005,494
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SALBERT LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 19 February 2024 , and are signed on behalf of the board by:
S J Moran
Director
Company registration number: 10193594
SALBERT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Headingley Lane, Leeds, West Yorkshire, LS6 2AS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of rents received, exclusive of Value Added Tax.
Income tax
Deferred tax is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Financial instruments
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.
4. TANGIBLE ASSETS
Investment Property
£
Cost
At 1 June 2022 and 31 May 2023
2,584,050
------------
Depreciation
At 1 June 2022 and 31 May 2023
------------
Carrying amount
At 31 May 2023
2,584,050
------------
At 31 May 2022
2,584,050
------------
The investment properties have been valued on an open market basis by the directors as at 31 May 2023.
5. DEBTORS
2023
2022
£
£
Other debtors
1,086,954
528,145
------------
---------
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
110,000
23,467
Trade creditors
6,932
Corporation tax
31,395
40,443
Other creditors
1,235
1,235
Amounts due to related companies
37,069
19,981
Other creditors
42,821
23,385
---------
---------
222,520
115,443
---------
---------
7. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,450,000
1,010,481
------------
------------