SALINS AUTOMOBILE LTD LIMITED

Company Registration Number:
12755105 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

SALINS AUTOMOBILE LTD LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Notes

SALINS AUTOMOBILE LTD LIMITED

Balance sheet

As at 31 July 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 1,900 2,674
Total fixed assets: 1,900 2,674
Current assets
Debtors: 4 255 515
Cash at bank and in hand: 450 106
Total current assets: 705 621
Creditors: amounts falling due within one year: 5 (266) (259)
Net current assets (liabilities): 439 362
Total assets less current liabilities: 2,339 3,036
Creditors: amounts falling due after more than one year:     (471)
Total net assets (liabilities): 2,339 2,565
Capital and reserves
Called up share capital: 100 100
Other reserves: 1,103 1,103
Profit and loss account: 1,136 1,362
Shareholders funds: 2,339 2,565

The notes form part of these financial statements

SALINS AUTOMOBILE LTD LIMITED

Balance sheet statements

For the year ending 31 July 2024 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 16 September 2024
and signed on behalf of the board by:

Name: SALINSILE, Nurudeen Olayinka
Status: Director

The notes form part of these financial statements

SALINS AUTOMOBILE LTD LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

1. Accounting policies

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

Other accounting policies

SALINS AUTOMOBILE LTD hereinafter referred to as the company is registered with companies house with registration no 12755105 with SALINSILE, Nurudeen Olayinka as the sole director. The company provide general services to its customers through its director. The financial statement has been prepared under the historical cost convention and in accordance with the financial Reporting Standard for Smaller Entities (effective January 2016

SALINS AUTOMOBILE LTD LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

No other Employee was paid during the period ended.

SALINS AUTOMOBILE LTD LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible Assets

Total
Cost £
At 01 August 2023 3,448
At 31 July 2024 3,448
Depreciation
At 01 August 2023 774
Charge for year 411
Other adjustments 363
At 31 July 2024 1,548
Net book value
At 31 July 2024 1,900
At 31 July 2023 2,674

Property, plant and equipment (PPE) are the long-term tangible assets that are shown on the balance sheet of the company. The company recognizes an asset as an item of PPE when the asset has a useful life for more than one year and it is used for production or supply of goods or services, for rental to others, or for administrative purposes. Property, plant and equipment include land, building, machinery, vehicles, office equipment and furniture, etc. The company records an item of property, plant and equipment initially at its cost in the accounting record. It includes all costs that necessary to bring the asset to the working condition that it can be used as intended. The cost of an item of PPE includes purchased price, import duties, and the costs to get assets to the location and condition ready to use such as transportation and installation cost, etc

SALINS AUTOMOBILE LTD LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 255 515

The amount has been deducted before arriving at the director wages. Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at the amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

SALINS AUTOMOBILE LTD LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Creditors: amounts falling due within one year note

This is the tax due at the year end. A current tax liability is recognised for the tax payable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessment. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that ae expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted