1 March 2023 v2024.64.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP132103192023-03-012024-02-29132103192024-02-29132103192023-02-2813210319core:WithinOneYear2024-02-2913210319core:WithinOneYear2023-02-2813210319core:ShareCapital2024-02-2913210319core:ShareCapital2023-02-2813210319core:RetainedEarningsAccumulatedLosses2024-02-2913210319core:RetainedEarningsAccumulatedLosses2023-02-2813210319bus:Director12023-03-012024-02-2913210319bus:RegisteredOffice2023-03-012024-02-29132103192022-03-012023-02-2813210319core:LandBuildings2023-03-0113210319core:LandBuildings2023-03-012024-02-2913210319core:LandBuildings2024-02-2913210319core:LandBuildings2023-02-2813210319core:AdditionsToInvestments2024-02-2913210319core:DisposalsRepaymentsInvestments2024-02-291321031912023-03-012024-02-2913210319countries:EnglandWales2023-03-012024-02-2913210319bus:AuditExemptWithAccountantsReport2023-03-012024-02-2913210319bus:PrivateLimitedCompanyLtd2023-03-012024-02-2913210319bus:SmallEntities2023-03-012024-02-2913210319bus:FullAccounts2023-03-012024-02-29
Company registration number:
13210319
Saltwells Holdings Limited
Unaudited Filleted Financial Statements for the year ended
29 February 2024
Saltwells Holdings Limited
Statement of Financial Position
29 February 2024
20242023
Note££
Fixed assets    
Tangible assets 5
411,547
 
145,000
 
Current assets    
Cash at bank and in hand
1,022
 
25,388
 
Creditors: amounts falling due within one year 7
(420,788
)
(179,970
)
Net current liabilities
(419,766
)
(154,582
)
Total assets less current liabilities (8,219 ) (9,582 )
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(8,220
)
(9,583
)
Shareholders deficit
(8,219
)
(9,582
)
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.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
28 November 2024
, and are signed on behalf of the board by:
Dr T Safdar
Director
Company registration number:
13210319
Saltwells Holdings Limited
Notes to the Financial Statements
Year ended
29 February 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
1a Simms Lane
,
Netherton
,
Dudley
,
West Midlands
,
DY2 0PD
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildingsNil

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or . Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in .
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1
).

5 Tangible assets

Land and buildings
£
Cost  
At
1 March 2023
145,000
 
Additions
266,547
 
At
29 February 2024
411,547
 
Depreciation  
At
1 March 2023
and
29 February 2024
-  
Carrying amount  
At
29 February 2024
411,547
 
At 28 February 2023
145,000
 

6 Investments

Other investments other than loans
£
Cost  
At
1 March 2023
-  
Additions
238,801
 
Disposals
(238,801
)
At
29 February 2024
-  
Impairment  
At
1 March 2023
and
29 February 2024
-  
Carrying amount  
At
29 February 2024
-  
At 28 February 2023 -  

7 Creditors: amounts falling due within one year

20242023
££
Other creditors
420,788
 
179,970