Salley Limited
Registered number: 07906340
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 2 1,001,131 1,024,054
Investments 3 238,089 238,009
1,239,220 1,262,063
Current assets
Debtors 4 (85,160) 142,232
Cash at bank and in hand 16,203 15,340
(68,957) 157,572
Creditors: amounts falling due within one year 5 (217,578) (443,695)
Net current liabilities (286,535) (286,123)
Total assets less current liabilities 952,685 975,940
Creditors: amounts falling due after more than one year 6 (256,021) (272,539)
Net assets 696,664 703,401
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 677,461 677,461
Profit and loss account 19,103 25,840
Shareholder's funds 696,664 703,401
Average number of employees 0 0
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 M J Keane
Director
Approved by the board on 22 October 2024
Salley Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received.
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:
Premises costs 2% reducing balance basis
Equipment, fixtures and fittings 15% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Premises costs Equipment, fixtures and fittings Total
£ £ £
Cost
At 1 February 2023 1,131,084 59,036 1,190,120
Disposals - (2,818) (2,818)
At 31 January 2024 1,131,084 56,218 1,187,302
Depreciation
At 1 February 2023 125,820 40,246 166,066
Charge for the year 20,105 - 20,105
At 31 January 2024 145,925 40,246 186,171
Net book value
At 31 January 2024 985,159 15,972 1,001,131
At 31 January 2023 1,005,264 18,790 1,024,054
3 Investments
Other
investments
£
Cost
At 1 February 2023 238,089
At 31 January 2024 238,089
4 Debtors 2024 2023
£ £
Related party balance - Ajar Tec Limited (103,987) 126,013
Related party balance - Inovex Limited 1,000 -
Related party balance - Syon Technology Ltd. 6,388 6,388
Related party balance - Pan Tran Limited 2,600 2,600
Related party balance - Voloforce UK Ltd 5,000 4,000
Other debtors and prepayments 3,839 3,231
(85,160) 142,232
5 Creditors: amounts falling due within one year 2024 2023
£ £
Director's current account 45,932 251,659
Related party balances - AJ Optimum Limited 148,335 168,335
Bank loan 19,163 19,163
Deferred Income 110 1,155
Corporation tax 3,038 2,383
Other creditors and accruals 1,000 1,000
217,578 443,695
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 256,021 272,539
7 Revaluation reserve 2024 2023
£ £
At 1 February 2023 677,461 677,461
At 31 January 2024 677,461 677,461
8 Related party transactions 2024 2023
£ £
Ajar Tec Limited
Mr Keane, director and shareholder of this company is also a director and shareholder of Ajar Tec Limited.
Amount due to and from the related party. 103,987 126,013
AJ Optimum Performance Limited
Mr Keane, director and shareholder of this company is also a director and shareholder of AJ Optimum Performance Limited.
Amount due to the related party. 148,335 168,334
Pan-Tran Limited
Mr Keane, director and shareholder of this company is also a director and shareholder of Pan-Tran Limited.
Amount due from the related party. 2,600 2,600
Syon Technology Ltd
Mr Keane, director and shareholder of this company is related to the Director of Syon Technology Ltd.
Amount due from the related party. 6,388 6,388
Voloforce UK Ltd
Mr Keane, director and shareholder of this company is related to the Director of Voloforce UK Ltd
Amount due from the related party. 5,000 4,000
Inovex Simulation & Training UK Limited
Mr Keane, director and shareholder of this company is related to the Director of Inovex Simulation & Training UK Limited
Amount due from the related party. 1,000 -
9 Controlling party
The director controls the company.
10 Other information
Salley Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Orchard
8 Harlequin Avenue
Brentford
Middlesex
TW8 9EW
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