Salboy (Narrowcliff Newquay) Limited 13289016 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true false true true false 13289016 2023-02-01 2024-01-31 13289016 2024-01-31 13289016 core:RetainedEarningsAccumulatedLosses 2024-01-31 13289016 core:ShareCapital 2024-01-31 13289016 core:CurrentFinancialInstruments 2024-01-31 13289016 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13289016 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 13289016 bus:SmallEntities 2023-02-01 2024-01-31 13289016 bus:Audited 2023-02-01 2024-01-31 13289016 bus:FullAccounts 2023-02-01 2024-01-31 13289016 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13289016 bus:RegisteredOffice 2023-02-01 2024-01-31 13289016 bus:Director1 2023-02-01 2024-01-31 13289016 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13289016 core:Subsidiary1 2023-02-01 2024-01-31 13289016 core:Subsidiary1 1 2023-02-01 2024-01-31 13289016 core:Subsidiary1 countries:EnglandWales 2023-02-01 2024-01-31 13289016 1 2023-02-01 2024-01-31 13289016 countries:EnglandWales 2023-02-01 2024-01-31 13289016 core:CostValuation 2023-01-31 13289016 2022-02-01 2023-01-31 13289016 2023-01-31 13289016 core:RetainedEarningsAccumulatedLosses 2023-01-31 13289016 core:ShareCapital 2023-01-31 13289016 core:CurrentFinancialInstruments 2023-01-31 13289016 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13289016 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 13289016 core:Subsidiary1 1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13289016

Salboy (Narrowcliff Newquay) Limited

Financial Statements

for the Year Ended 31 January 2024

 

Salboy (Narrowcliff Newquay) Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Salboy (Narrowcliff Newquay) Limited

(Registration number: 13289016)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Stocks

5

6,345,157

5,594,663

Debtors

6

580,485

642,288

Cash at bank and in hand

 

642

16,212

 

6,926,284

6,253,163

Creditors: Amounts falling due within one year

7

(6,109)

(45,200)

Net current assets

 

6,920,175

6,207,963

Total assets less current liabilities

 

6,920,176

6,207,964

Creditors: Amounts falling due after more than one year

7

(6,937,905)

(6,217,969)

Net liabilities

 

(17,729)

(10,005)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(17,829)

(10,105)

Shareholders' deficit

 

(17,729)

(10,005)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 July 2024 and signed on its behalf by:
 

.........................................
Mr SA Ismail
Director

 

Salboy (Narrowcliff Newquay) Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
M5 4ZG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by a related company. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Audit report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 4 July 2024 was Mr Damian Wayne Riley FCCA, who signed for and on behalf of Alextra Audit Limited.

 

Salboy (Narrowcliff Newquay) Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 February 2023

1

Provision

Carrying amount

At 31 January 2024

1

At 31 January 2023

1

 

Salboy (Narrowcliff Newquay) Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Salboy Narrowcliff Management Company Limited

Unit 3 Birchwood One Business Park
Dewhurst Road
Birchwood
Warrington
WA3 7GB

England and Wales

Ordinary

100%

100%

The principle activity of Salboy Narrowcliff Management Company Limited is the running of hotels and similar accommodation.

5

Stocks

2024
£

2023
£

Work in progress

6,345,157

5,594,663

6

Debtors

2024
£

2023
£

Owed by group undertakings

579,209

617,079

Prepayments

378

357

Other debtors

898

24,852

580,485

642,288

 

Salboy (Narrowcliff Newquay) Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,209

39,078

Accruals

4,900

4,250

Other creditors

-

1,872

6,109

45,200

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Owed to group undertakings

6,937,905

6,217,969

8

Parent and ultimate parent undertaking

The parent companies are Fred Done Property Trading Group Limited and Karpeediem Limited.

Fred Done Property Trading Group Limited is a company incorporated in England and Wales, company number 08830784, registered office The Spectrum Benson Road, Birchwood, Warrington, WA3 7PQ.

Karpeediem Limited is a company incorporated in England and Wales, company number 12104578, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, M5 4ZG.

These financial statements are consolidated within the group financial statements of Fred Done Property Trading Group Limited. Copies of the financial statements are available on request from The Spectrum Benson Road, Birchwood, Warrington, WA3 7PQ.

The controlling party is Fred Done Property Trading Group Limited by virtue of its shareholding.

The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.