Company registration number 12718681 (England and Wales)
Salbee Limited
Unaudited
financial statements
for the year ended 31 July 2023
PAGES FOR FILING WITH REGISTRAR
Salbee Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Salbee Limited
Statement of financial position
as at 31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
2
780,668
780,668
Current assets
Debtors
29,790
Cash at bank and in hand
61,737
26,151
91,527
26,151
Creditors: amounts falling due within one year
(749,474)
(717,983)
Net current liabilities
(657,947)
(691,832)
Net assets
122,721
88,836
Capital and reserves
Called up share capital
3
100
100
Profit and loss reserves
122,621
88,736
Total equity
122,721
88,836
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
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 by the board of directors and authorised for issue on 8 April 2024 and are signed on its behalf by:
C Ayrton
Director
Company registration number 12718681 (England and Wales)
Salbee Limited
Notes to the financial statements
for the year ended 31 July 2023
- 2 -
1
Accounting policies
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.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the rental and consultancy income received in the normal course of business. Turnover is recognised on an accruals basis.
Investment properties
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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Investment property
2023
£
Fair value
At 1 August 2022 and 31 July 2023
780,668
The investment property has been included by the directors at its cost price as they believe the fair value is not materially different to its cost.
3
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
4
Company information
Salbee Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.