2023-02-012024-01-312024-01-31false08839072SUB SALT SOLUTIONS 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SUB SALT SOLUTIONS LIMITED

Registered Number
08839072
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

SUB SALT SOLUTIONS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

RENTON, John Frederick Anthony
SHAH, Koolesh Dhiru
SHAH, Nikhil Koolesh
WARNER, Michael Robert
IP2IPO SERVICES LIMITED

Company Secretary

PENNSEC LIMITED

Registered Address

8-14 Talbot Square
London
W2 1TS

Registered Number

08839072 (England and Wales)
SUB SALT SOLUTIONS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets337,43744,282
Tangible assets42,7272,169
40,16446,451
Current assets
Debtors77,70197,830
Cash at bank and on hand1,268,008976,899
1,345,7091,074,729
Creditors amounts falling due within one year5(264,926)(215,276)
Net current assets (liabilities)1,080,783859,453
Total assets less current liabilities1,120,947905,904
Net assets1,120,947905,904
Capital and reserves
Called up share capital257257
Share premium475,697475,697
Profit and loss account644,993429,950
Shareholders' funds1,120,947905,904
The financial statements were approved and authorised for issue by the Board of Directors on 23 October 2024, and are signed on its behalf by:
SHAH, Nikhil Koolesh
Director
Registered Company No. 08839072
SUB SALT SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are measured at cost. After initial recognition, intangible assets are measured at costs less any accumulated amortisation and any accumulated impairment losses. Patents and licences are being amortised evenly over their estimated useful life of 5 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation.
2.Average number of employees

20242023
Average number of employees during the year76
3.Intangible assets

Total

£
Cost or valuation
At 01 February 23124,849
Additions10,925
Disposals(36,040)
At 31 January 2499,734
Amortisation and impairment
At 01 February 2380,567
Charge for year17,770
On disposals(36,040)
At 31 January 2462,297
Net book value
At 31 January 2437,437
At 31 January 2344,282
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 237,097
Additions1,457
Disposals(1,525)
At 31 January 247,029
Depreciation and impairment
At 01 February 234,927
Charge for year900
On disposals(1,525)
At 31 January 244,302
Net book value
At 31 January 242,727
At 31 January 232,169
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables255,968213,826
Bank borrowings and overdrafts8,7781,450
Accrued liabilities and deferred income180-
Total264,926215,276
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.