0 false false false false false false false false false false true false false true true true true true true No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12942526 2022-04-01 2023-03-31 12942526 2023-03-31 12942526 2022-03-31 12942526 2021-04-01 2022-03-31 12942526 2022-03-31 12942526 2021-03-31 12942526 bus:RegisteredOffice 2022-04-01 2023-03-31 12942526 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 12942526 bus:Director1 2022-04-01 2023-03-31 12942526 core:WithinOneYear 2023-03-31 12942526 core:AfterOneYear 2023-03-31 12942526 core:ShareCapital 2023-03-31 12942526 core:ShareCapital 2022-03-31 12942526 core:RetainedEarningsAccumulatedLosses 2023-03-31 12942526 bus:SmallEntities 2022-04-01 2023-03-31 12942526 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12942526 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12942526 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12942526 bus:FullAccounts 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 12942526
SALISBURY DEVELOPMENT GROUP LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2023
SALISBURY DEVELOPMENT GROUP LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
SALISBURY DEVELOPMENT GROUP LTD
OFFICERS AND PROFESSIONAL ADVISERS
Director
Mr I Douglas
Registered office
Lynton House
7-12 Tavistock Square
London
United Kingdom
WC1H 9BQ
Accountants
TC BSG Valentine Limited
Accountants
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
SALISBURY DEVELOPMENT GROUP LTD
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Stocks
2,676,503
Debtors
4
46,446
100
Cash at bank and in hand
13,879
------------
----
2,736,828
100
CREDITORS: amounts falling due within one year
5
( 512,308)
------------
----
NET CURRENT ASSETS
2,224,520
100
------------
----
TOTAL ASSETS LESS CURRENT LIABILITIES
2,224,520
100
CREDITORS: amounts falling due after more than one year
6
( 2,411,832)
------------
----
NET (LIABILITIES)/ASSETS
( 187,312)
100
------------
----
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 187,412)
---------
----
SHAREHOLDERS (DEFICIT)/FUNDS
( 187,312)
100
---------
----
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 income statement has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SALISBURY DEVELOPMENT GROUP LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 21 February 2024 , and are signed on behalf of the board by:
Mr I Douglas
Director
Company registration number: 12942526
SALISBURY DEVELOPMENT GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 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 Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ, United Kingdom.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2023
2022
£
£
Other debtors
46,446
100
--------
----
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
483,145
Trade creditors
20,963
Other creditors
8,200
---------
----
512,308
---------
----
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,411,832
------------
----