0 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 47,000 67,000 45,000 22,000 2,000 xbrli:pure xbrli:shares iso4217:GBP NI029290 2022-08-01 2023-07-31 NI029290 2023-07-31 NI029290 2022-07-31 NI029290 bus:Director1 2022-08-01 2023-07-31 NI029290 core:WithinOneYear 2023-07-31 NI029290 core:WithinOneYear 2022-07-31 NI029290 core:ShareCapital 2023-07-31 NI029290 core:ShareCapital 2022-07-31 NI029290 core:OtherReservesSubtotal 2023-07-31 NI029290 core:OtherReservesSubtotal 2022-07-31 NI029290 core:RetainedEarningsAccumulatedLosses 2023-07-31 NI029290 core:RetainedEarningsAccumulatedLosses 2022-07-31 NI029290 core:CostValuation core:Non-currentFinancialInstruments 2022-07-31 NI029290 core:CostValuation core:Non-currentFinancialInstruments 2023-07-31 NI029290 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-07-31 NI029290 core:Non-currentFinancialInstruments 2023-07-31 NI029290 core:Non-currentFinancialInstruments 2022-07-31 NI029290 bus:SmallEntities 2022-08-01 2023-07-31 NI029290 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 NI029290 bus:FullAccounts 2022-08-01 2023-07-31 NI029290 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 NI029290 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI029290 core:Non-currentFinancialInstruments core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInInvestments 2023-07-31 NI029290 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: NI029290
Saliste Limited
Filleted Unaudited Financial Statements
31 July 2023
Saliste Limited
Balance Sheet
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
22,000
2,000
Current assets
Debtors
5
643,674
663,674
Cash at bank and in hand
9,271
58,136
---------
---------
652,945
721,810
Creditors: amounts falling due within one year
6
3,026
2,001
---------
---------
Net current assets
649,919
719,809
---------
---------
Total assets less current liabilities
671,919
721,809
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Other reserves
8
( 23,899)
( 23,899)
Profit and loss account
8
685,818
735,708
---------
---------
Shareholders funds
671,919
721,809
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Saliste Limited
Balance Sheet (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
J E Craig
Director
Company registration number: NI029290
Saliste Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 8 Wandsworth Drive, Belfast, BT4 2BJ.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year .
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares .
4. Investments
Shares in group undertakings
£
Cost
At 1 August 2022
47,000
Transfers
20,000
--------
At 31 July 2023
67,000
--------
Impairment
At 1 August 2022 and 31 July 2023
45,000
--------
Carrying amount
At 31 July 2023
22,000
--------
At 31 July 2022
2,000
--------
The company holds 100% of the nominal value of the ordinary share capital of the following companies:
Country of
Name of company incorporation Nature of business
Cullen Allen Ltd Northern Ireland Seed Potato Distributor
Castleview Limited Northern Ireland Dormant Company
Irish Seed Potatoes Limited Northern Ireland Research & Development
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
643,674
663,674
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,000
2,000
Corporation tax
26
1
-------
-------
3,026
2,001
-------
-------
7. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
9,271
58,136
-------
--------
8. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Other reserves - This is a merger reserve arising on a group reorganisation in a prior period .