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Registered number: 11166130
Salluz Developments Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11166130
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 684,307 478,249
Debtors 5 2,493 2,720
Cash at bank and in hand 4,262 7,903
691,062 488,872
Creditors: Amounts Falling Due Within One Year 6 (20,840 ) (20,862 )
NET CURRENT ASSETS (LIABILITIES) 670,222 468,010
TOTAL ASSETS LESS CURRENT LIABILITIES 670,222 468,010
Creditors: Amounts Falling Due After More Than One Year 7 (679,400 ) (472,245 )
NET LIABILITIES (9,178 ) (4,235 )
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account (9,188 ) (4,245 )
SHAREHOLDERS' FUNDS (9,178) (4,235)
Page 1
Page 2
For the year ending 31 January 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 Eamon Stafford
Director
26th October 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
Salluz Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11166130 . The registered office is St Augustine’s Business Centre, 125 Canterbury Road, Westgate-on-Sea, Kent, CT8 8NL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
a) Development of residential and commercial properties
Sales of investment properties, land and property developments are recognised in respect of contracts exchanged during the year, provided that no material conditions remain outstanding at the balance sheet date, and all conditions are fully satisfied by the date on which the accounts are signed. Full provision is made for all known or expected losses on completing a development once such losses are foreseen. 
2.4. Stocks and Work in Progress
Land and property developments are recorded at the lower of cost or net realisable value. 
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Stocks
2024 2023
£ £
Work in progress 684,307 478,249
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,493 2,720
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 744
Bank loans and overdrafts 20,060 19,374
Other creditors 780 744
20,840 20,862
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 251,848 279,974
Other creditors 427,552 192,271
679,400 472,245
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 175,494 -
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
9. Related Party Transactions
The Company has borrowings from a Company by an interest free loan to a related party, related by common ownership and Directors of key members of the board. Salluz Ltd was owed 2024 -£427,552 (2023 - £192,271) at the end of the financial year. This loan is interest free and no repayment term has been formally agreed.
10. Controlling Party Not Known
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
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