Company Registration No. 08859911 (England and Wales)
Saltspin Limited
Unaudited accounts
for the year ended 31 October 2023
Saltspin Limited
Unaudited accounts
Contents
Saltspin Limited
Company Information
for the year ended 31 October 2023
Directors
M Bharwani
J Bharwani
Company Number
08859911 (England and Wales)
Registered Office
ALPHA HOUSE STUDIO 10
100 VILLERS ROAD
WILLESDEN GREEN
LONDON
NW2 5PJ
ENGLAND
Accountants
AR Consultancy Services (UK) Ltd
144 Salmon Street
London
NW9 8NU
Saltspin Limited
Statement of financial position
as at 31 October 2023
Cash at bank and in hand
4,027
9,762
Creditors: amounts falling due within one year
(922)
(1,012)
Net current assets
5,371
31,911
Called up share capital
100
100
Profit and loss account
5,271
31,811
Shareholders' funds
5,371
31,911
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2024 and were signed on its behalf by
M Bharwani
Director
Company Registration No. 08859911
Saltspin Limited
Notes to the Accounts
for the year ended 31 October 2023
Saltspin Limited is a private company, limited by shares, registered in England and Wales, registration number 08859911. The registered office is ALPHA HOUSE STUDIO 10, 100 VILLERS ROAD, WILLESDEN GREEN, LONDON, NW2 5PJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Website development costs
Website development costs are written off on a straight line basis over their estimated useful economic life of four years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
- 25% on cost and Straight line over 5 years
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The directors have considered the consequences of COVID-19 and other events and conditions, and have determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.
The impact of COVID-19 on future performance and therefore on the measurement of some assets and liabilities or on liquidity might be significant and might therefore require disclosure in the financial statements, but the directors have determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.
Saltspin Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Amounts due from group undertakings etc.
72
1,398
7
Creditors: amounts falling due within one year
2023
2022
8
Transactions with related parties
There were no transactions with the directors in the year.
At the balance sheet date £72 (2022 : £1,398) owed from a company under common control.
Saltspin Limited
Notes to the Accounts
for the year ended 31 October 2023
The controlling party is M Bharwani.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).