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REGISTERED NUMBER: 03284469 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE ANGLESEY SEA SALT COMPANY LIMITED

THE ANGLESEY SEA SALT COMPANY LIMITED (REGISTERED NUMBER: 03284469)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


THE ANGLESEY SEA SALT COMPANY LIMITED (REGISTERED NUMBER: 03284469)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,523,217 1,480,544

CURRENT ASSETS
Stocks 296,670 250,184
Debtors 5 234,729 219,371
Cash at bank and in hand 206,741 139,225
738,140 608,780
CREDITORS
Amounts falling due within one year 6 300,377 200,458
NET CURRENT ASSETS 437,763 408,322
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,960,980

1,888,866

CREDITORS
Amounts falling due after more than one
year

7

(347,359

)

(357,368

)

PROVISIONS FOR LIABILITIES (124,732 ) (106,842 )
NET ASSETS 1,488,889 1,424,656

CAPITAL AND RESERVES
Called up share capital 50,916 50,916
Share premium 201,544 201,544
Retained earnings 1,236,429 1,172,196
1,488,889 1,424,656

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 ANGLESEY SEA SALT COMPANY LIMITED (REGISTERED NUMBER: 03284469)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





Mr D M Lea-Wilson - Director


THE ANGLESEY SEA SALT COMPANY LIMITED (REGISTERED NUMBER: 03284469)

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


1. STATUTORY INFORMATION

The Anglesey Sea Salt Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03284469

Registered office: Ty Halen
Brynsiencyn
Llanfairpwll
Anglesey
LL61 6TQ

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance, 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


THE ANGLESEY SEA SALT COMPANY LIMITED (REGISTERED NUMBER: 03284469)

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


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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 23 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 1,229,243 1,605,938 2,835,181
Additions - 145,165 145,165
At 31 March 2024 1,229,243 1,751,103 2,980,346
DEPRECIATION
At 1 April 2023 180,383 1,174,254 1,354,637
Charge for year 22,548 79,944 102,492
At 31 March 2024 202,931 1,254,198 1,457,129
NET BOOK VALUE
At 31 March 2024 1,026,312 496,905 1,523,217
At 31 March 2023 1,048,860 431,684 1,480,544

THE ANGLESEY SEA SALT COMPANY LIMITED (REGISTERED NUMBER: 03284469)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 177,529 162,915
Other debtors 57,200 56,456
234,729 219,371

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 65,986 85,296
Trade creditors 118,614 40,253
Taxation and social security 84,556 43,876
Other creditors 31,221 31,033
300,377 200,458

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 347,359 357,368

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 146,625 126,884

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 413,345 442,664

The bank loans are secured by a fixed and floating charge over the freehold property and other assets of the company.