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REGISTERED NUMBER: 12348099 (England and Wales)














Abridged Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Salumax Properties Ltd

Salumax Properties Ltd (Registered number: 12348099)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Salumax Properties Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr S C Little





REGISTERED OFFICE: 24 Albert Road
Eaglescliffe
TS16 0DD





REGISTERED NUMBER: 12348099 (England and Wales)





ACCOUNTANTS: Peckitt Ogden & Co
Chartered Certified Accountants
8 Marsden Park
James Nicolson Link
Clifton Moor
York
YO30 4WX

Salumax Properties Ltd (Registered number: 12348099)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 498,781 421,974

CURRENT ASSETS
Debtors 1,624 1,773
Cash at bank 7,274 7,083
8,898 8,856
CREDITORS
Amounts falling due within one year 260,656 259,653
NET CURRENT LIABILITIES (251,758 ) (250,797 )
TOTAL ASSETS LESS CURRENT LIABILITIES 247,023 171,177

CREDITORS
Amounts falling due after more than one year 5 277,154 196,884
NET LIABILITIES (30,131 ) (25,707 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (30,132 ) (25,708 )
SHAREHOLDERS' FUNDS (30,131 ) (25,707 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Salumax Properties Ltd (Registered number: 12348099)

Abridged Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 September 2024 and were signed by:





Mr S C Little - Director


Salumax Properties Ltd (Registered number: 12348099)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Salumax Properties Ltd 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.

Turnover
Turnover 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 15% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 1 (2022 - 1 ) .

Salumax Properties Ltd (Registered number: 12348099)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 377,914 59,990 844 438,748
Additions 83,416 - - 83,416
At 31 December 2023 461,330 59,990 844 522,164
DEPRECIATION
At 1 January 2023 - 16,647 127 16,774
Charge for year - 6,502 107 6,609
At 31 December 2023 - 23,149 234 23,383
NET BOOK VALUE
At 31 December 2023 461,330 36,841 610 498,781
At 31 December 2022 377,914 43,343 717 421,974

Included within Motor Vehicles is asset at written down value held under hire purchase agreement of £36,841 (2022:£43,343), on which depreciation charged in the year was £6,501 (2022 : £7,649).

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 246,687 160,456

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 246,687 160,456
Hire purchase contracts 35,838 41,209
282,525 201,665

The following charges apply:
- The Mortgage Lender Limited has a fixed charge and negative pledge over 309 Poets Place, Great Homer Street, Liverpool, L5 3SP
- The Mortgage Works (UK) PLC has a negative pledge over 1 Jamieson Road, Liverpool, L15 3JD.
- Shawbrook Bank Limited has a fixed charge and negative pledge over Flat 2, 11 Lemon Street, Liverpool, L5 7TB

The hire purchase agreements are secured on the assets concerned..

Salumax Properties Ltd (Registered number: 12348099)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

8. CAPITAL COMMITMENTS

Included within property costs are deposits for the 2 new build properties of £105,856. The purchase price of the properties are as follows:
1. £143,950.00 due to be completed in the last quarter of 2024, balance remaining of £94,172
2. £164,950.00 due to be completed in the last quarter of 2024, balance remaining of £108,872
The remaining balance on each property will be payable before completion.