2023-03-012024-02-292024-02-29false08899381SALTHOUSE STERLING 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SALTHOUSE STERLING LIMITED

Registered Number
08899381
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

SALTHOUSE STERLING LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Catherine Jane Harhalakis
Dennis Arthur Harhalakis

Registered Address

Moor House Whippletree Road
Whittlesford
Cambridge
CB22 4PD

Registered Number

08899381 (England and Wales)
SALTHOUSE STERLING LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks837,165893,773
Cash at bank and on hand518-
837,683893,773
Creditors amounts falling due within one year3(1,056,292)(1,097,401)
Net current assets (liabilities)(218,609)(203,628)
Total assets less current liabilities(218,609)(203,628)
Net assets(218,609)(203,628)
Capital and reserves
Called up share capital100100
Profit and loss account(218,709)(203,728)
Shareholders' funds(218,609)(203,628)
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2024, and are signed on its behalf by:
Dennis Arthur Harhalakis
Director
Registered Company No. 08899381
SALTHOUSE STERLING LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.Average number of employees

20242023
Average number of employees during the year00
3.Creditors: amounts due within one year

2024

2023

££
Other creditors1,056,2921,097,401
Total1,056,2921,097,401
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.