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REGISTERED NUMBER: 08647552 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

SALZA-BRIGHT LIMITED

SALZA-BRIGHT LIMITED (REGISTERED NUMBER: 08647552)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SALZA-BRIGHT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: S Fani
Mrs O J R Fani
K Fani





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 08647552 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

SALZA-BRIGHT LIMITED (REGISTERED NUMBER: 08647552)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 70,560 -
Investment property 5 635,001 635,001
705,561 635,001

CURRENT ASSETS
Debtors 6 204,948 105,897
Cash at bank 12,938 78,257
217,886 184,154
CREDITORS
Amounts falling due within one year 7 44,063 44,227
NET CURRENT ASSETS 173,823 139,927
TOTAL ASSETS LESS CURRENT
LIABILITIES

879,384

774,928

CREDITORS
Amounts falling due after more than one
year

8

(301,739

)

(251,950

)

PROVISIONS FOR LIABILITIES (102,034 ) (77,545 )
NET ASSETS 475,611 445,433

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 306,100 330,588
Retained earnings 169,411 114,745
SHAREHOLDERS' FUNDS 475,611 445,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

SALZA-BRIGHT LIMITED (REGISTERED NUMBER: 08647552)

BALANCE SHEET - continued
31 AUGUST 2023


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 28 August 2024 and were signed on its behalf by:





S Fani - Director


SALZA-BRIGHT LIMITED (REGISTERED NUMBER: 08647552)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Salza-Bright 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is 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 the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

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:

Motor vehicles20% on Reducing Balance

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SALZA-BRIGHT LIMITED (REGISTERED NUMBER: 08647552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Motor
vehicles
£   
COST
Additions 88,200
At 31 August 2023 88,200
DEPRECIATION
Charge for year 17,640
At 31 August 2023 17,640
NET BOOK VALUE
At 31 August 2023 70,560

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 635,001
NET BOOK VALUE
At 31 August 2023 635,001
At 31 August 2022 635,001

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2020 408,134
Cost 226,867
635,001

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 226,867 226,867

Investment property was valued on an open market basis on 31 August 2023 by the directors .

SALZA-BRIGHT LIMITED (REGISTERED NUMBER: 08647552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by connected companies 203,087 105,897
Other debtors 1,861 -
204,948 105,897

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,580 8,025
Hire purchase contracts 16,640 -
Trade creditors - 4,209
Taxation and social security - 13,765
Other creditors 19,843 18,228
44,063 44,227

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 244,886 251,950
Hire purchase contracts 56,853 -
301,739 251,950

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 217,719 220,277

9. RELATED PARTY DISCLOSURES

Included in creditors, amount falling due within one year, is an amount of £8,164 ( 2022: £3,232) owed to the director of the company. This loan is interest free and repayable on demand.

Included in debtors, amount falling due within one year, is an amount of £203,087 ( 2022: £105,897) owed to the connected companies. This loan is interest free and repayable on demand.