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Registration number: 08777331

M Salt Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

M Salt Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

M Salt Limited

(Registration number: 08777331)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

44,248

49,891

Current assets

 

Stocks

5

60,527

48,141

Debtors

6

11,081

6,980

Cash at bank and in hand

 

8,817

8,403

 

80,425

63,524

Creditors: Amounts falling due within one year

7

(52,122)

(43,084)

Net current assets

 

28,303

20,440

Total assets less current liabilities

 

72,551

70,331

Provisions for liabilities

(8,408)

(9,480)

Net assets

 

64,143

60,851

Capital and reserves

 

Called up share capital

110

110

Retained earnings

64,033

60,741

Shareholders' funds

 

64,143

60,851

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

M Salt Limited

(Registration number: 08777331)
Balance Sheet as at 31 December 2023

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 and the option not to file the Directors Report and Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 September 2024 and signed on its behalf by:
 

.........................................
Mr MA Salt
Director

 

M Salt Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
England

The principal place of business is:
Shayes Farm
Noneley
Wem
Shrewsbury
SY4 5SL

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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 and deferred 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.

 

M Salt Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

The current 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.

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

Plant and machinery

15% on cost

Motor vehicles

25% on reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

M Salt Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

54,413

171,575

225,988

Additions

-

8,500

8,500

At 31 December 2023

54,413

180,075

234,488

Depreciation

At 1 January 2023

38,801

137,296

176,097

Charge for the year

3,903

10,240

14,143

At 31 December 2023

42,704

147,536

190,240

Carrying amount

At 31 December 2023

11,709

32,539

44,248

At 31 December 2022

15,612

34,279

49,891

 

M Salt Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Stocks

2023
£

2022
£

Work in progress

43,027

30,641

Other inventories

17,500

17,500

60,527

48,141

6

Debtors

Current

2023
£

2022
£

Trade debtors

10,165

-

Prepayments

916

967

Other debtors

-

6,013

 

11,081

6,980

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

29,727

21,793

Taxation and social security

 

7,368

145

Other creditors

 

15,027

21,146

 

52,122

43,084