Company Registration No. SC517913 (Scotland)
SALL-LP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
James Hair & Co
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
SALL-LP LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
2,963
Current assets
Debtors
4
-
0
16,400
Cash at bank and in hand
3,638
13,813
3,638
30,213
Creditors: amounts falling due within one year
5
(24,847)
(20,687)
Net current (liabilities)/assets
(21,209)
9,526
Total assets less current liabilities
(21,209)
12,489
Creditors: amounts falling due after more than one year
6
(19,478)
(27,518)
Net liabilities
(40,687)
(15,029)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(40,787)
(15,129)
Total equity
(40,687)
(15,029)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 31 October 2024
Mr Stuart Malcolm
Director
Company Registration No. SC517913
SALL-LP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information

Sall-LP Ltd is a private company limited by shares incorporated in Scotland. The registered office is 55 Kennedy Way, AIRTH, Falkirk, FK2 8GG.

1.1
Accounting convention

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.

1.2
Going concern

The financial statements have been prepared on the going concern basis. The appropriateness of this is dependant upon the continued support of the company director and shareholder.

1.3
Turnover

Turnover comprises the invoiced value of long term rentals provided by the company, net of Value Added Tax and trade discounts.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.

1.6
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

SALL-LP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 November 2022
3,950
Disposals
(3,950)
At 31 October 2023
-
0
Depreciation and impairment
At 1 November 2022
987
Eliminated in respect of disposals
(987)
At 31 October 2023
-
0
Carrying amount
At 31 October 2023
-
0
At 31 October 2022
2,963
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
0
16,400
SALL-LP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,000
10,000
Trade creditors
-
0
1,500
Directors current accounts
13,411
7,687
Accruals and deferred income
2,436
1,500
24,847
20,687

 

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,478
27,518
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
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