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REGISTERED NUMBER: 00604930 (England and Wales)















SALTER & SON LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






SALTER & SON LIMITED (REGISTERED NUMBER: 00604930)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


SALTER & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







Directors: A J H Salter
E F Salter





Registered office: Mountside House
Avenue Road
Ingatestone
CM4 9HB





Registered number: 00604930 (England and Wales)





Accountants: Roberts & Co
Chartered Accountants
2 Tower House
Hoddesdon
Hertfordshire
EN11 8UR

SALTER & SON LIMITED (REGISTERED NUMBER: 00604930)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £ £ £ £
Fixed assets
Investment property 4 825,000 825,000

Current assets
Debtors 5 - 16,534
Cash at bank 79,570 78,366
79,570 94,900
Creditors
Amounts falling due within one year 6 11,351 18,952
Net current assets 68,219 75,948
Total assets less current liabilities 893,219 900,948

Creditors
Amounts falling due after more than one
year

7

(16,250

)

-

Provisions for liabilities (106,917 ) (106,917 )
Net assets 770,052 794,031

Capital and reserves
Called up share capital 8 10,000 10,000
Retained earnings 9 760,052 784,031
Shareholders' funds 770,052 794,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





A J H Salter - Director


SALTER & SON LIMITED (REGISTERED NUMBER: 00604930)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. Statutory information

Salter & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Investment property
Total
£
Fair value
At 1 June 2023
and 31 May 2024 825,000
Net book value
At 31 May 2024 825,000
At 31 May 2023 825,000

Included in fair value of investment property is freehold land of £ 700,000 (2023 - £ 700,000 ) which is not depreciated.

Fair value at 31 May 2024 is represented by:
£
Valuation in 2017 700,000
Valuation in 2018 312,500
Valuation in 2022 (187,500 )
825,000

5. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors - 7,537
Directors' loan accounts - 8,997
- 16,534

SALTER & SON LIMITED (REGISTERED NUMBER: 00604930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


6. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax payable 6,760 1,499
PAYE control account 349 158
Accrued expenses 1,524 11,744
Deferred income 2,718 5,551
11,351 18,952

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Rent deposits held 16,250 -

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
10,000 Ordinary £1 10,000 10,000

9. Reserves
Retained
earnings
£

At 1 June 2023 784,031
Profit for the year 41,021
Dividends (65,000 )
At 31 May 2024 760,052