SALISBURY HOUSE LIMITED

Company Registration Number:
01987214 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

SALISBURY HOUSE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

SALISBURY HOUSE LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 4,460,833 93,000
Tangible assets: 4 45,163 31,951
Total fixed assets: 4,505,996 124,951
Current assets
Debtors:   484,971 65,962
Cash at bank and in hand: 82,060 555,735
Total current assets: 567,031 621,697
Creditors: amounts falling due within one year:   (2,184,010) (157,685)
Net current assets (liabilities): (1,616,979) 464,012
Total assets less current liabilities: 2,889,017 588,963
Creditors: amounts falling due after more than one year:   (2,000,000)
Total net assets (liabilities): 889,017 588,963
Capital and reserves
Called up share capital: 69 69
Profit and loss account: 888,948 588,894
Shareholders funds: 889,017 588,963

The notes form part of these financial statements

SALISBURY HOUSE LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 March 2024
and signed on behalf of the board by:

Name: T R T Holmes
Status: Director

The notes form part of these financial statements

SALISBURY HOUSE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fittings fixtures and equipment - 25% reducing balance Motor vehicles - 25% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 10% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Valuation and information policy

Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years

Other accounting policies

Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

SALISBURY HOUSE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 28 25

SALISBURY HOUSE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible Assets

Total
Cost £
At 01 January 2023 155,000
Additions 4,500,010
At 31 December 2023 4,655,010
Amortisation
At 01 January 2023 62,000
Charge for year 132,177
At 31 December 2023 194,177
Net book value
At 31 December 2023 4,460,833
At 31 December 2022 93,000

SALISBURY HOUSE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible Assets

Total
Cost £
At 01 January 2023 119,958
Additions 22,615
At 31 December 2023 142,573
Depreciation
At 01 January 2023 88,007
Charge for year 9,403
At 31 December 2023 97,410
Net book value
At 31 December 2023 45,163
At 31 December 2022 31,951