0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 400,278 400,278 400,278 xbrli:pure xbrli:shares iso4217:GBP 03161603 2023-03-01 2024-02-29 03161603 2024-02-29 03161603 2023-02-28 03161603 2022-03-01 2023-02-28 03161603 2023-02-28 03161603 2022-02-28 03161603 bus:Director1 2023-03-01 2024-02-29 03161603 core:WithinOneYear 2024-02-29 03161603 core:WithinOneYear 2023-02-28 03161603 core:ShareCapital 2024-02-29 03161603 core:ShareCapital 2023-02-28 03161603 core:RetainedEarningsAccumulatedLosses 2024-02-29 03161603 core:RetainedEarningsAccumulatedLosses 2023-02-28 03161603 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 03161603 core:Non-currentFinancialInstruments 2024-02-29 03161603 core:Non-currentFinancialInstruments 2023-02-28 03161603 bus:Director1 2023-02-28 03161603 bus:Director1 2024-02-29 03161603 bus:Director1 2022-02-28 03161603 bus:Director1 2023-02-28 03161603 bus:Director1 2022-03-01 2023-02-28 03161603 bus:SmallEntities 2023-03-01 2024-02-29 03161603 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 03161603 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 03161603 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03161603 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 03161603
Saleem Limited
Filleted Unaudited Financial Statements
29 February 2024
Saleem Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
400,278
400,278
Current assets
Debtors
5
864,368
678,745
Cash at bank and in hand
1,313,055
566,739
------------
------------
2,177,423
1,245,484
Creditors: amounts falling due within one year
6
9,289
11,243
------------
------------
Net current assets
2,168,134
1,234,241
------------
------------
Total assets less current liabilities
2,568,412
1,634,519
------------
------------
Net assets
2,568,412
1,634,519
------------
------------
Capital and reserves
Called up share capital
130
130
Profit and loss account
2,568,282
1,634,389
------------
------------
Shareholders funds
2,568,412
1,634,519
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 29 February 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Saleem Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 10 November 2024 , and are signed on behalf of the board by:
Mr M Saleem
Director
Company registration number: 03161603
Saleem Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 223 Stanley Road, Bootle, L20 3DY, Merseyside.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(i) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(ii) Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(iii) Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
(iv) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Investments
Shares in group undertakings
£
Cost
At 1 March 2023 and 29 February 2024
400,278
---------
Impairment
At 1 March 2023 and 29 February 2024
---------
Carrying amount
At 29 February 2024
400,278
---------
At 28 February 2023
400,278
---------
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
839,429
678,745
Other debtors
24,939
---------
---------
864,368
678,745
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
3,045
Other creditors
6,244
11,243
-------
--------
9,289
11,243
-------
--------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr M Saleem
( 10,744)
5,000
( 5,744)
--------
-------
----
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr M Saleem
( 6,774)
30
( 4,000)
( 10,744)
-------
----
-------
--------