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Company Registration No. 08859911 (England and Wales)
Saltspin Limited Unaudited accounts for the year ended 31 October 2023
Saltspin Limited Unaudited accounts Contents
Page
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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
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Saltspin Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
2,000 
21,602 
Debtors
266 
1,559 
Cash at bank and in hand
4,027 
9,762 
6,293 
32,923 
Creditors: amounts falling due within one year
(922)
(1,012)
Net current assets
5,371 
31,911 
Net assets
5,371 
31,911 
Capital and reserves
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
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Saltspin Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred taxation
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.
Going concern
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.
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Saltspin Limited Notes to the Accounts for the year ended 31 October 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 November 2022
12,408 
At 31 October 2023
12,408 
Amortisation
At 1 November 2022
12,408 
At 31 October 2023
12,408 
Net book value
At 31 October 2023
- 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2022
31,173 
At 31 October 2023
31,173 
Depreciation
At 1 November 2022
31,173 
At 31 October 2023
31,173 
Net book value
At 31 October 2023
- 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
194 
161 
Amounts due from group undertakings etc.
72 
1,398 
266 
1,559 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
82 
212 
Accruals
840 
800 
922 
1,012 
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.
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Saltspin Limited Notes to the Accounts for the year ended 31 October 2023
9
Controlling party
The controlling party is M Bharwani.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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