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Sallows Associates Ltd
Registered Number:09608400
For the year ended 31 May 2023
England and Wales
Unaudited Financial Statements
2
Registered Number :
09608400
As at 31 May 2023
Sallows Associates Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
266
-
3
266
-
Current assets
Inventories
4,000
8,638
4
Trade and other receivables
16,247
26,139
5
71,192
Cash and cash equivalents
91,582
126,359
91,439
Trade and other payables: amounts falling due within one
year
(25,458)
(29,896)
6
65,981
96,463
Net current assets
Total assets less current liabilities
96,729
65,981
96,729
Net assets
65,981
Capital and reserves
Called up share capital
100
100
Retained earnings
96,629
65,881
96,729
65,981
Shareholders' funds
For the year ended 31 May 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 of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Frederick Hoad Director
These financial statements were approved and authorised for issue by the Board on 19 July 2023 and were signed by:
The notes form part of these financial statements
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For the year ended 31 May 2023
Sallows Associates Ltd
Notes to the Financial Statements
Statutory Information
Sallows Associates Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 09608400.
Registered address:
51 Hawkenbury Way
Lewes
BN7 1LT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
33% Reducing balance
Computer equipment
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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4
For the year ended 31 May 2023
Sallows Associates Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Other
Intangible
Assets
Cost or valuation
£
At 01 June 2022
38,338
At 31 May 2023
38,338
Amortisation
At 01 June 2022
38,338
At 31 May 2023
38,338
Net book value
At 31 May 2023
-
At 31 May 2022
-
3. Property, plant and equipment
Computer
equipment
£
Cost or
valuation
At 01 June 2022
777
399
Additions
At 31 May 2023
1,176
Provision for depreciation and impairment
At 01 June 2022
777
Charge for year
133
At 31 May 2023
910
At 31 May 2023
Net book value
266
At 31 May 2022
-
4. Inventories
2022
2023
£
£
Stocks
8,638
4,000
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5
For the year ended 31 May 2023
Sallows Associates Ltd
Notes to the Financial Statements Continued
5. Trade and other receivables
2022
2023
£
£
Trade debtors
26,139
16,247
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
(1)
(1)
Taxation and social security
29,863
25,405
Other creditors
34
54
29,896
25,458
7. Related party transactions
The company is controlled by the directors who own 100% of the called up share capital.
8. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
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