Registered number
05046992
UK Salt Gritting Company Ltd
Filleted Accounts
31 July 2023
UK Salt Gritting Company Ltd
Registered number: 05046992
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 28,897 17,362
Current assets
Stocks 3,750 3,300
Cash at bank and in hand 97,870 69,399
101,620 72,699
Creditors: amounts falling due within one year 4 (796) (1,145)
Net current assets 100,824 71,554
Total assets less current liabilities 129,721 88,916
Creditors: amounts falling due after more than one year 5 (111,029) (82,267)
Net assets 18,692 6,649
Capital and reserves
Called up share capital 101 101
Profit and loss account 18,591 6,548
Shareholders' funds 18,692 6,649
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W A Wood
Director
Approved by the board on 8 March 2024
UK Salt Gritting Company Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 August 2022 39,930 15,500 55,430
Additions - 19,379 19,379
At 31 July 2023 39,930 34,879 74,809
Depreciation
At 1 August 2022 32,488 5,580 38,068
Charge for the year 1,488 6,356 7,844
At 31 July 2023 33,976 11,936 45,912
Net book value
At 31 July 2023 5,954 22,943 28,897
At 31 July 2022 7,442 9,920 17,362
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 550 680
Taxation and social security costs 246 465
796 1,145
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 111,029 82,267
6 Other information
UK Salt Gritting Company Ltd is a private company limited by shares and incorporated in England. Its registered office is:
72 Clipsley Lane
Haydock
St Helens
Merseyside
WA11 0UB
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