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REGISTERED NUMBER: 01034143 (England and Wales)















SALVO DESIGN & PRINT LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






SALVO DESIGN & PRINT LIMITED (REGISTERED NUMBER: 01034143)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SALVO DESIGN & PRINT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S R Sims
C Sims





SECRETARY: S L Stevens





REGISTERED OFFICE: Unit 4, Berrington Road
Sydenham Industrial Estate
Leamington Spa
Warwickshire
CV31 1NB





REGISTERED NUMBER: 01034143 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

SALVO DESIGN & PRINT LIMITED (REGISTERED NUMBER: 01034143)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 126,213 147,653

CURRENT ASSETS
Stocks 10,219 11,048
Debtors 5 74,602 93,070
Cash at bank and in hand 768,614 742,700
853,435 846,818
CREDITORS
Amounts falling due within one year 6 140,996 216,585
NET CURRENT ASSETS 712,439 630,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

838,652

777,886

CREDITORS
Amounts falling due after more than one
year

7

-

(22,948

)

PROVISIONS FOR LIABILITIES (16,485 ) (15,902 )
NET ASSETS 822,167 739,036

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 812,167 729,036
SHAREHOLDERS' FUNDS 822,167 739,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

SALVO DESIGN & PRINT LIMITED (REGISTERED NUMBER: 01034143)

BALANCE SHEET - continued
31 DECEMBER 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 21 March 2024 and were signed on its behalf by:





S R Sims - Director


SALVO DESIGN & PRINT LIMITED (REGISTERED NUMBER: 01034143)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Salvo Design & Print 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost and 7.5% reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SALVO DESIGN & PRINT LIMITED (REGISTERED NUMBER: 01034143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 20,151 228,532 13,310
Additions - 12,599 -
At 31 December 2023 20,151 241,131 13,310
DEPRECIATION
At 1 January 2023 20,151 140,964 12,619
Charge for year - 23,425 180
Eliminated on disposal - - -
At 31 December 2023 20,151 164,389 12,799
NET BOOK VALUE
At 31 December 2023 - 76,742 511
At 31 December 2022 - 87,568 691

SALVO DESIGN & PRINT LIMITED (REGISTERED NUMBER: 01034143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 68,650 10,467 341,110
Additions - 5,366 17,965
At 31 December 2023 68,650 15,833 359,075
DEPRECIATION
At 1 January 2023 14,513 5,210 193,457
Charge for year 13,758 - 37,363
Eliminated on disposal - 2,042 2,042
At 31 December 2023 28,271 7,252 232,862
NET BOOK VALUE
At 31 December 2023 40,379 8,581 126,213
At 31 December 2022 54,137 5,257 147,653

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 56,700
Transfer to ownership (56,700 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 5,185
Transfer to ownership (5,185 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 51,515

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 56,578 54,720
Other debtors 18,024 38,350
74,602 93,070

SALVO DESIGN & PRINT LIMITED (REGISTERED NUMBER: 01034143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) - 16,832
Trade creditors 39,574 154,470
Taxation and social security 51,025 23,019
Other creditors 50,397 22,264
140,996 216,585

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) - 22,948

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 16,832
Between one and five years - 22,948
- 39,780

Non-cancellable operating leases
2023 2022
£    £   
Within one year 44,200 -
Between one and five years 121,550 -
165,750 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 39,780