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Registration number: 05318359

Salisbury Apartments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Salisbury Apartments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Salisbury Apartments Limited

Company Information

Director

F Hamdani

Registered office

12a Fleet Business Park
Sandy Lane
Church Crookham
Fleet
Hampshire
GU52 8BF

Accountants

CRK Accounting Limited
12a Fleet Business Park
Sandy Lane
Church Crookham
Fleet
Hampshire
GU52 8BF

 

Salisbury Apartments Limited

(Registration number: 05318359)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,093

24,203

Current assets

 

Debtors

5

53,483

43,482

Cash at bank and in hand

 

154,699

140,821

 

208,182

184,303

Creditors: Amounts falling due within one year

6

(25,380)

(21,929)

Net current assets

 

182,802

162,374

Total assets less current liabilities

 

200,895

186,577

Creditors: Amounts falling due after more than one year

6

(10,837)

(15,833)

Net assets

 

190,058

170,744

Capital and reserves

 

Called up share capital

100

100

Retained earnings

189,958

170,644

Shareholders' funds

 

190,058

170,744

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 September 2024
 

.........................................
F Hamdani
Director

 

Salisbury Apartments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
12a Fleet Business Park
Sandy Lane
Church Crookham
Fleet
Hampshire
GU52 8BF
England

These financial statements were authorised for issue by the director on 2 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Salisbury Apartments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% reducing balance

Computer equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Salisbury Apartments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Salisbury Apartments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

44,705

36,750

81,455

Additions

8,151

-

8,151

At 31 March 2024

52,856

36,750

89,606

Depreciation

At 1 April 2023

32,752

24,500

57,252

Charge for the year

2,011

12,250

14,261

At 31 March 2024

34,763

36,750

71,513

Carrying amount

At 31 March 2024

18,093

-

18,093

At 31 March 2023

11,953

12,250

24,203

5

Debtors

Current

2024
£

2023
£

Prepayments

20,000

10,000

Other debtors

33,483

33,482

 

53,483

43,482

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

6,214

2,262

Taxation and social security

6,600

5,824

Accruals and deferred income

-

452

Other creditors

12,566

13,391

25,380

21,929

Creditors: amounts falling due after more than one year

 

Salisbury Apartments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

10,837

15,833

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

10,837

15,833