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REGISTERED NUMBER: 03782035 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SAELOC LIMITED

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SAELOC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D M Knighton
M A Clark
B D Clark
K M Knighton
S E Clark



SECRETARY: D M Knighton



REGISTERED OFFICE: Eagle House
28 Billing Road
Northampton
Northamptonshire
NN1 5AJ



REGISTERED NUMBER: 03782035 (England and Wales)



ACCOUNTANTS: Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ



BANKERS: Natwest Bank Plc
40 Market Square
Wellingborough
Northamptonshire
NN8 1AD

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,378 5,851
Investments 5 298,924 171,615
Investment property 6 - 88,500
329,302 265,966

CURRENT ASSETS
Stocks 186,231 169,614
Debtors 7 257,295 303,178
Cash at bank 498,103 505,829
941,629 978,621
CREDITORS
Amounts falling due within one year 8 630,574 622,912
NET CURRENT ASSETS 311,055 355,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

640,357

621,675

PROVISIONS FOR LIABILITIES 6,739 3,388
NET ASSETS 633,618 618,287

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 868 -
Retained earnings 11 632,650 618,187
SHAREHOLDERS' FUNDS 633,618 618,287

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.

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

STATEMENT OF FINANCIAL POSITION - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:





D M Knighton - Director


SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


1. STATUTORY INFORMATION

Saeloc Limited 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 (£).


The company's place of business is 28 Huxley Close, Park Farm Industrial Estate, Wellingborough, Northamptonshire, NN8 6AB

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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of 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.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

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

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Deferred tax is recognised on the gain in revaluation of investment properties.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
Contributions payable to the directors' pension schemes and Group SIPP are charged to the profit and loss account in the period to which they relate.

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


2. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Investments
Listed investments are held at fair value at the balance sheet date with changes in fair value recognised in the income statement and accumulated gains or losses reflected in the Fair Value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 April 2023 36,175 53,569 89,744
Additions 25,515 3,692 29,207
At 31 March 2024 61,690 57,261 118,951
DEPRECIATION
At 1 April 2023 36,175 47,718 83,893
Charge for year 2,552 2,128 4,680
At 31 March 2024 38,727 49,846 88,573
NET BOOK VALUE
At 31 March 2024 22,963 7,415 30,378
At 31 March 2023 - 5,851 5,851

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 171,615
Additions 126,829
Disposals (25,525 )
Revaluations 26,005
At 31 March 2024 298,924
NET BOOK VALUE
At 31 March 2024 298,924
At 31 March 2023 171,615

Listed investments are stated at market value.

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 88,500
Disposals (88,500 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 88,500

The investment property is valued at fair value by the Directors as at the balance sheet date.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 251,332 298,211
VAT 1,005 9
Prepayments and accrued income 4,958 4,958
257,295 303,178

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 542,470 556,871
Tax 76,537 54,838
Social security and other taxes - (1,320 )
PPT 3,256 4,765
Other creditors 631 378
Accruals and deferred income 7,680 7,380
630,574 622,912

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,809 32,776
Between one and five years 12,715 41,524
41,524 74,300

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

SAELOC LIMITED (REGISTERED NUMBER: 03782035)

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


11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 618,187 - 618,187
Profit for the year 265,331 265,331
Dividends (250,000 ) (250,000 )
Reserves transfer (868 ) 868 -
At 31 March 2024 632,650 868 633,518