Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3142023-04-01falseNo description of principal activity4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01324683 2023-04-01 2024-03-31 01324683 2022-04-01 2023-03-31 01324683 2024-03-31 01324683 2023-03-31 01324683 c:Director1 2023-04-01 2024-03-31 01324683 d:PlantMachinery 2023-04-01 2024-03-31 01324683 d:PlantMachinery 2024-03-31 01324683 d:PlantMachinery 2023-03-31 01324683 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01324683 d:FurnitureFittings 2023-04-01 2024-03-31 01324683 d:FurnitureFittings 2024-03-31 01324683 d:FurnitureFittings 2023-03-31 01324683 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01324683 d:ComputerEquipment 2023-04-01 2024-03-31 01324683 d:ComputerEquipment 2024-03-31 01324683 d:ComputerEquipment 2023-03-31 01324683 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01324683 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01324683 d:FreeholdInvestmentProperty 2024-03-31 01324683 d:FreeholdInvestmentProperty 2023-03-31 01324683 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 01324683 d:CurrentFinancialInstruments 2024-03-31 01324683 d:CurrentFinancialInstruments 2023-03-31 01324683 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01324683 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01324683 d:ShareCapital 2024-03-31 01324683 d:ShareCapital 2023-03-31 01324683 d:RetainedEarningsAccumulatedLosses 2024-03-31 01324683 d:RetainedEarningsAccumulatedLosses 2023-03-31 01324683 c:FRS102 2023-04-01 2024-03-31 01324683 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01324683 c:FullAccounts 2023-04-01 2024-03-31 01324683 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01324683 6 2023-04-01 2024-03-31 01324683 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01324683 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01324683 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 01324683 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 01324683 d:OtherDeferredTax 2024-03-31 01324683 d:OtherDeferredTax 2023-03-31 01324683 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 01324683









EDWARD F. SALTMARSH (PRODUCE) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
REGISTERED NUMBER: 01324683

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
786
1,430

Investments
 5 
62,718
62,550

Investment property
 6 
158,000
148,005

  
221,504
211,985

Current assets
  

Debtors: amounts falling due within one year
 7 
57
-

Cash at bank and in hand
  
6,603
9,361

  
6,660
9,361

Creditors: amounts falling due within one year
 8 
(4,436)
(3,729)

Net current assets
  
 
 
2,224
 
 
5,632

Total assets less current liabilities
  
223,728
217,617

Provisions for liabilities
  

Deferred tax
 9 
(6,316)
(5,159)

  
 
 
(6,316)
 
 
(5,159)

Net assets
  
217,412
212,458


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
207,412
202,458

  
217,412
212,458


Page 1

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
REGISTERED NUMBER: 01324683
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D E Saltmarsh
Director

Date: 29 November 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The principal activity of the Company in the year under review was that of an investment company.
The Company is a private company limited by shares and is incorporated in England and Wales.
The registered office address is Parsons Spinney, Front Street Ousden, Newmarket, Suffolk, CB8 8TW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements have been prepared on a going concern basis. 
The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. 
Based on this assessment, the directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external debt liabilities. 
In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. 
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

Page 3

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Page 4

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 5

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
16%
Straight line
Fixtures and fittings
-
25%
Straight line
Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 6

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

(ii )Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 -4).

Page 7

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
3,813
344
1,744
5,901



At 31 March 2024

3,813
344
1,744
5,901



Depreciation


At 1 April 2023
3,813
287
371
4,471


Charge for the year on owned assets
-
57
587
644



At 31 March 2024

3,813
344
958
5,115



Net book value



At 31 March 2024
-
-
786
786



At 31 March 2023
-
57
1,373
1,430


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
62,550


Additions
659


Disposals
(204)


Revaluations
(287)



At 31 March 2024
62,718




Page 8

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
148,005


Surplus on revaluation
9,995



At 31 March 2024
158,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Other debtors
57
-

57
-



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
9
460

Other creditors
2,625
1,587

Accruals and deferred income
1,802
1,682

4,436
3,729


Page 9

 
EDWARD F. SALTMARSH (PRODUCE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024


£






At beginning of year
(5,159)


Charged to profit or loss
(1,157)



At end of year
(6,316)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(197)
(358)

Tax losses carried forward
7,495
6,420

Revaluation gains
(13,614)
(11,221)

(6,316)
(5,159)



 
Page 10