Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04614882 Mrs SHARON FRENCH Mr EDDY FRENCH iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04614882 2022-12-31 04614882 2023-12-31 04614882 2023-01-01 2023-12-31 04614882 frs-core:CurrentFinancialInstruments 2023-12-31 04614882 frs-core:FurnitureFittings 2023-12-31 04614882 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04614882 frs-core:FurnitureFittings 2022-12-31 04614882 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04614882 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04614882 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 04614882 frs-core:PlantMachinery 2023-12-31 04614882 frs-core:PlantMachinery 2023-01-01 2023-12-31 04614882 frs-core:PlantMachinery 2022-12-31 04614882 frs-core:ShareCapital 2023-12-31 04614882 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04614882 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04614882 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04614882 frs-bus:SmallEntities 2023-01-01 2023-12-31 04614882 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04614882 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04614882 frs-bus:Director1 2023-01-01 2023-12-31 04614882 frs-bus:Director2 2023-01-01 2023-12-31 04614882 frs-countries:EnglandWales 2023-01-01 2023-12-31 04614882 2021-12-31 04614882 2022-12-31 04614882 2022-01-01 2022-12-31 04614882 frs-core:CurrentFinancialInstruments 2022-12-31 04614882 frs-core:ShareCapital 2022-12-31 04614882 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04614882
THE SALVOGROUP LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
K B Patel Accountancy
86A Main Street
Horsley Woodhouse
Ilkeston
Derbyshire
DE7 6AU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04614882
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 77,432 78,595
77,432 78,595
CURRENT ASSETS
Stocks 5 100,000 80,000
Cash at bank and in hand 2,386 7,231
102,386 87,231
Creditors: Amounts Falling Due Within One Year 6 (200,820 ) (187,801 )
NET CURRENT ASSETS (LIABILITIES) (98,434 ) (100,570 )
TOTAL ASSETS LESS CURRENT LIABILITIES (21,002 ) (21,975 )
NET LIABILITIES (21,002 ) (21,975 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (21,102 ) (22,075 )
SHAREHOLDERS' FUNDS (21,002) (21,975)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs SHARON FRENCH
Director
16/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
THE SALVOGROUP LTD is a private company, limited by shares, incorporated in England & Wales, registered number 04614882 . The registered office is UNIT 2, LONGBRIDGE LANE, HEANOR, DERBYSHIRE, DE75 7GH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15%
Plant & Machinery 15%
Fixtures & Fittings 15%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 10)
10 10
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 44,829 156,415 14,030 215,274
Additions - 12,500 - 12,500
As at 31 December 2023 44,829 168,915 14,030 227,774
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 January 2023 22,587 108,611 5,481 136,679
Provided during the period 3,336 9,045 1,282 13,663
As at 31 December 2023 25,923 117,656 6,763 150,342
Net Book Value
As at 31 December 2023 18,906 51,259 7,267 77,432
As at 1 January 2023 22,242 47,804 8,549 78,595
5. Stocks
2023 2022
£ £
Materials 100,000 80,000
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 43,157 15,000
Bank loans and overdrafts 46,715 43,897
Other taxes and social security 36,670 62,989
VAT 40,645 54,282
Directors' loan accounts 33,633 11,633
200,820 187,801
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4