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REGISTERED NUMBER: 03382489 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

SALTLEY LIMITED

SALTLEY LIMITED (REGISTERED NUMBER: 03382489)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SALTLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Dr S Ananthram
Mrs K Ananthram





SECRETARY: Mrs K Ananthram





REGISTERED OFFICE: Millstream Surgery
Cherry Tree Walk
Redditch
Worcestershire
B97 6PB





REGISTERED NUMBER: 03382489 (England and Wales)





ACCOUNTANTS: Clive Shedd & Co
Chartered Accountants
232 Sladepool Farm Road
Birmingham
B14 5EE

SALTLEY LIMITED (REGISTERED NUMBER: 03382489)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 264,817 283,733
Tangible assets 6 27,100 34,045
Investments 7 324,860 324,860
616,777 642,638

CURRENT ASSETS
Stocks 48,306 40,742
Debtors 8 340,619 290,105
Cash at bank and in hand 2,228 31,421
391,153 362,268
CREDITORS
Amounts falling due within one year 9 598,368 554,404
NET CURRENT LIABILITIES (207,215 ) (192,136 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,562

450,502

CREDITORS
Amounts falling due after more than one
year

10

-

1,334
NET ASSETS 409,562 449,168

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 409,462 449,068
SHAREHOLDERS' FUNDS 409,562 449,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

SALTLEY LIMITED (REGISTERED NUMBER: 03382489)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by:





Dr S Ananthram - Director


SALTLEY LIMITED (REGISTERED NUMBER: 03382489)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Saltley Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company's functional and presentation currency is the pound sterling, rounded to the nearest £.

Significant judgements and estimates
In preparing these financial statements the company's management make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the statement of financial position date and the amounts reported in the income statement for the year under review.

The nature of estimates means that the actual outcome could differ and the company's management consider there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts reported for assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of twenty five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc-25% on reducing balance

Tangible fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in group undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and liabilities are initially recognised at transaction price and are subsequently measured at amortised cost.


SALTLEY LIMITED (REGISTERED NUMBER: 03382489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position and are depreciated over their estimated useful lives. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable by the company are charged to profit or loss in the period to which they relate.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the amount expected to be paid in exchange for that service.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 638,203
AMORTISATION
At 1 July 2022 354,470
Charge for year 18,916
At 30 June 2023 373,386
NET BOOK VALUE
At 30 June 2023 264,817
At 30 June 2022 283,733

SALTLEY LIMITED (REGISTERED NUMBER: 03382489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 173,813
Additions 486
At 30 June 2023 174,299
DEPRECIATION
At 1 July 2022 139,768
Charge for year 7,431
At 30 June 2023 147,199
NET BOOK VALUE
At 30 June 2023 27,100
At 30 June 2022 34,045


7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 324,860
NET BOOK VALUE
At 30 June 2023 324,860
At 30 June 2022 324,860

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 135,335 91,570
Amounts owed by group undertakings 159,102 159,234
Other debtors 35,103 30,346
Prepayments and accrued income 11,079 8,955
340,619 290,105

SALTLEY LIMITED (REGISTERED NUMBER: 03382489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 75,330 -
Hire purchase contracts 1,334 2,500
Trade creditors 203,479 222,527
Amounts owed to group undertakings - 14,000
Taxation and social security 3,980 4,568
Other creditors 305,235 305,235
Accruals and deferred income 9,010 5,574
598,368 554,404

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 1,334

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 75,330 -
Hire purchase contracts 1,334 3,834
76,664 3,834

Bank borrowings are secured by legal mortgages over the company's trading premises and by a debenture over the company's assets. Hire purchase and finance leases are secured on the assets concerned.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares £1 100 100

13. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Millstream Group Limited whose registered office address is Millstream Surgery,
Cherry Tree Walk, Redditch, Worcestershire B97 6PB.