Registered number
11761179
Salomon Property Ltd
Filleted Accounts
31 January 2024
Salomon Property Ltd
Registered number: 11761179
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 112,152 111,180
Current assets
Cash at bank and in hand 20,475 35,312
Creditors: amounts falling due within one year 4 (164,101) (157,749)
Net current liabilities (143,626) (122,437)
Net liabilities (31,474) (11,257)
Capital and reserves
Called up share capital 2 2
Profit and loss account (31,476) (11,259)
Shareholders' funds (31,474) (11,257)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Salomon
Director
Approved by the board on 16 October 2024
Salomon Property Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not depreciated
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 111,180 - 111,180
Additions - 1,458 1,458
At 31 January 2024 111,180 1,458 112,638
Depreciation
Charge for the year - 486 486
At 31 January 2024 - 486 486
Net book value
At 31 January 2024 111,180 972 112,152
At 31 January 2023 111,180 - 111,180
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 164,101 157,749
5 Other information
Salomon Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Redvers Avenue
Hooton
Ellesmere Port
Cheshire
CH66 6AJ
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