Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07021230 Mr James Warren Mr Henry Scott iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07021230 2023-03-31 07021230 2024-03-31 07021230 2023-04-01 2024-03-31 07021230 frs-core:CurrentFinancialInstruments 2024-03-31 07021230 frs-core:Non-currentFinancialInstruments 2024-03-31 07021230 frs-core:FurnitureFittings 2024-03-31 07021230 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07021230 frs-core:FurnitureFittings 2023-03-31 07021230 frs-core:MotorVehicles 2024-03-31 07021230 frs-core:MotorVehicles 2023-04-01 2024-03-31 07021230 frs-core:MotorVehicles 2023-03-31 07021230 frs-core:ShareCapital 2024-03-31 07021230 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07021230 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07021230 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07021230 frs-bus:SmallEntities 2023-04-01 2024-03-31 07021230 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07021230 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07021230 frs-bus:Director1 2023-04-01 2024-03-31 07021230 frs-bus:Director2 2023-04-01 2024-03-31 07021230 frs-core:CurrentFinancialInstruments 1 2024-03-31 07021230 frs-countries:EnglandWales 2023-04-01 2024-03-31 07021230 2022-03-31 07021230 2023-03-31 07021230 2022-04-01 2023-03-31 07021230 frs-core:CurrentFinancialInstruments 2023-03-31 07021230 frs-core:Non-currentFinancialInstruments 2023-03-31 07021230 frs-core:ShareCapital 2023-03-31 07021230 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07021230 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 07021230
The Salt Pig Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Suttle & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07021230
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 85,561 47,072
85,561 47,072
CURRENT ASSETS
Stocks 5 41,125 16,450
Debtors 6 153,490 56,251
Cash at bank and in hand 33,974 66,449
228,589 139,150
Creditors: Amounts Falling Due Within One Year 7 (173,714 ) (87,324 )
NET CURRENT ASSETS (LIABILITIES) 54,875 51,826
TOTAL ASSETS LESS CURRENT LIABILITIES 140,436 98,898
Creditors: Amounts Falling Due After More Than One Year 8 (71,372 ) (94,384 )
NET ASSETS 69,064 4,514
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 69,063 4,513
SHAREHOLDERS' FUNDS 69,064 4,514
Page 1
Page 2
For the 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.
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
Mr James Warren
Director
Mr Henry Scott
Director
04/09/2024
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 Salt Pig Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07021230 . The registered office is Unit 1 The Sidings, Victoria Avenue Industrial Estate, Swanage, BH19 1AU.
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:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
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: 40 (2023: 20)
40 20
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 31,400 76,245 107,645
Additions 17,300 37,395 54,695
As at 31 March 2024 48,700 113,640 162,340
Depreciation
As at 1 April 2023 9,837 50,736 60,573
Provided during the period 5,390 10,816 16,206
As at 31 March 2024 15,227 61,552 76,779
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 33,473 52,088 85,561
As at 1 April 2023 21,563 25,509 47,072
5. Stocks
2024 2023
£ £
Stock 41,125 16,450
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,692 19,099
Prepayments and accrued income 7,500 1,693
Other debtors - 5,500
Deposit Fuel Account 400 400
Amounts owed by joint-ventures 141,898 29,559
153,490 56,251
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 124,496 33,126
PAYE Payable 18,186 2,985
VAT 2,424 11,811
Net wages 6,672 3,628
Accruals and deferred income 12,145 13,330
Directors' loan accounts 9,791 22,444
173,714 87,324
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,372 37,384
Other loans 44,000 57,000
71,372 94,384
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4