Company Registration No. 03542233 (England and Wales)
SAL TEXTILE LIMITED
Unaudited accounts
for the year ended 30 April 2023
SAL TEXTILE LIMITED
Unaudited accounts
Contents
SAL TEXTILE LIMITED
Company Information
for the year ended 30 April 2023
Company Number
03542233 (England and Wales)
Registered Office
18A
Lower Clapton Road
London
E5 0PD
England
Accountants
Tatar Brothers & Co Accountants
40 Willoughby Road
Hornsey
London
N8 0JG
SAL TEXTILE LIMITED
Statement of financial position
as at 30 April 2023
Tangible assets
1,110
1,306
Cash at bank and in hand
17,584
12,194
Creditors: amounts falling due within one year
(60,258)
(2,116)
Net current assets
1,477
49,234
Called up share capital
2
2
Profit and loss account
2,585
50,538
Shareholders' funds
2,587
50,540
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 February 2024 and were signed on its behalf by
Mr S T Salahi
Director
Company Registration No. 03542233
SAL TEXTILE LIMITED
Notes to the Accounts
for the year ended 30 April 2023
SAL TEXTILE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03542233. The registered office is 18A , Lower Clapton Road, London, E5 0PD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
The entity received Retail Hospitality and Leisure grant amounting to £9,482 during the year.
SAL TEXTILE LIMITED
Notes to the Accounts
for the year ended 30 April 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 May 2022
3,460
16,990
20,450
At 30 April 2023
3,460
16,990
20,450
At 1 May 2022
3,460
15,684
19,144
Charge for the year
-
196
196
At 30 April 2023
3,460
15,880
19,340
At 30 April 2023
-
1,110
1,110
At 30 April 2022
-
1,306
1,306
Amounts falling due within one year
Other debtors
12,698
12,698
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,071
979
Loans from directors
59,187
1,137
The company is under the control of the director, S T Salahi, by virtue of his shareholding of the company's issued share capital.
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).