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Registration number: 13897219

Saltbox Property Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Saltbox Property Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Saltbox Property Developments Ltd

Company Information

Directors

Mrs SA Higgins

L Heathcote

AJ Higgins

Miss R Mills

Registered office

Suite A4
Skylon Court
Coldnose Road
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Saltbox Property Developments Ltd

(Registration number: 13897219)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

1,464

63,828

Cash at bank and in hand

 

22,972

2

 

24,436

63,830

Creditors: Amounts falling due within one year

5

(137,957)

(66,465)

Net liabilities

 

(113,521)

(2,635)

Capital and reserves

 

Called up share capital

6

4

4

Retained earnings

(113,525)

(2,639)

Shareholders' deficit

 

(113,521)

(2,635)

 

Saltbox Property Developments Ltd

(Registration number: 13897219)
Balance Sheet as at 29 February 2024

For the financial 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 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.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

.........................................
Mrs SA Higgins
Director

.........................................
Miss R Mills
Director

 

Saltbox Property Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite A4
Skylon Court
Coldnose Road
Hereford
HR2 6JS

These financial statements were authorised for issue by the Board on 9 September 2024.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Saltbox Property Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Debtors

Current

2024
£

2023
£

Prepayments

-

62,364

Other debtors

1,464

1,464

 

1,464

63,828

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,500

1,440

Other creditors

136,457

65,025

137,957

66,465

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       
 

Saltbox Property Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Repayments by director
£

At 29 February 2024
£

Mrs SA Higgins

(121)

(2,680)

(2,801)

Miss R Mills

(118)

(2,680)

(2,798)

2023

At 7 February 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mrs SA Higgins

-

2

(123)

(121)

Miss R Mills

-

2

(120)

(118)