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Registered Number: 12240491
England and Wales

 

 

 

SALAHI LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Director Mousa Mohammed Ahmed SHUAIBI
Registered Number 12240491
Registered Office First Floor 40 Vicarage Road
Birmingham
B15 3EZ
Accountants Marneros Marcus & Co Limited
First Floor Hagley Court
40 Vicarage Road Edgbaston
Birmingham
B153EZ
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 15,781    18,065 
15,781    18,065 
Current assets      
Cash at bank and in hand 10,571    9,518 
Creditors: amount falling due within one year 4 (7,726)   (5,856)
Net current assets 2,845    3,662 
 
Total assets less current liabilities 18,626    21,727 
Creditors: amount falling due after more than one year 5 (14,010)   (17,400)
Net assets 4,616    4,327 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 4,516    4,227 
Shareholders' funds 4,616    4,327 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 31 July 2024 and were signed by:


-------------------------------
Mousa Mohammed Ahmed SHUAIBI
Director
2
General Information
SALAHI LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12240491, registration address First Floor 40 Vicarage Road, Birmingham, B15 3EZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% Straight Line
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 November 2022 22,840    22,840 
Additions  
Disposals  
At 31 October 2023 22,840    22,840 
Depreciation
At 01 November 2022 4,775    4,775 
Charge for year 2,284    2,284 
On disposals  
At 31 October 2023 7,059    7,059 
Net book values
Closing balance as at 31 October 2023 15,781    15,781 
Opening balance as at 01 November 2022 18,065    18,065 


4.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,687    690 
PAYE & Social Security 5,901    4,744 
Other Creditors 138    15 
Directors' Current Accounts   407 
7,726    5,856 

5.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 14,010    17,400 
14,010    17,400 

3