Caseware UK (AP4) 2023.0.135 2023.0.135 falsefalsetrue2023-05-0166trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03180113 2023-05-01 2024-04-30 03180113 2022-05-01 2023-04-30 03180113 2024-04-30 03180113 2023-04-30 03180113 c:Director5 2023-05-01 2024-04-30 03180113 d:Buildings 2023-05-01 2024-04-30 03180113 d:Buildings 2024-04-30 03180113 d:Buildings 2023-04-30 03180113 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03180113 d:PlantMachinery 2023-05-01 2024-04-30 03180113 d:PlantMachinery 2024-04-30 03180113 d:PlantMachinery 2023-04-30 03180113 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03180113 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 03180113 d:OtherPropertyPlantEquipment 2024-04-30 03180113 d:OtherPropertyPlantEquipment 2023-04-30 03180113 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03180113 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03180113 d:CurrentFinancialInstruments 2024-04-30 03180113 d:CurrentFinancialInstruments 2023-04-30 03180113 d:Non-currentFinancialInstruments 2024-04-30 03180113 d:Non-currentFinancialInstruments 2023-04-30 03180113 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03180113 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03180113 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03180113 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03180113 d:ShareCapital 2024-04-30 03180113 d:ShareCapital 2023-04-30 03180113 d:RetainedEarningsAccumulatedLosses 2024-04-30 03180113 d:RetainedEarningsAccumulatedLosses 2023-04-30 03180113 c:FRS102 2023-05-01 2024-04-30 03180113 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03180113 c:FullAccounts 2023-05-01 2024-04-30 03180113 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03180113 2 2023-05-01 2024-04-30 03180113 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-04-30 03180113 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-30 03180113 d:LeasedAssetsHeldAsLessee 2024-04-30 03180113 d:LeasedAssetsHeldAsLessee 2023-04-30 03180113 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 03180113










S. Salbstein Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 April 2024

 
S. Salbstein Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of S. Salbstein Limited for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of S. Salbstein Limited for the year ended 30 April 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of S. Salbstein Limited, as a body, in accordance with the terms of our engagement letter dated 15 December 2022Our work has been undertaken solely to prepare for your approval the financial statements of S. Salbstein Limited and state those matters that we have agreed to state to the Board of Directors of S. Salbstein Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S. Salbstein Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that S. Salbstein Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of S. Salbstein Limited. You consider that S. Salbstein Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of S. Salbstein Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
27 January 2025
Page 1

 
S. Salbstein Limited
Registered number: 03180113

Balance Sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,448,088
1,290,355

  
1,448,088
1,290,355

Current assets
  

Stocks
  
69,619
246,138

Debtors: amounts falling due within one year
 5 
91,117
69,110

Cash at bank and in hand
 6 
48,156
143,003

  
208,892
458,251

Creditors: amounts falling due within one year
 7 
(425,415)
(541,645)

Net current liabilities
  
 
 
(216,523)
 
 
(83,394)

Total assets less current liabilities
  
1,231,565
1,206,961

Creditors: amounts falling due after more than one year
 8 
(541,731)
(545,295)

Provisions for liabilities
  

Deferred tax
  
(146,975)
(118,660)

  
 
 
(146,975)
 
 
(118,660)

Net assets
  
542,859
543,006


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
542,759
542,906

  
542,859
543,006


Page 2

 
S. Salbstein Limited
Registered number: 03180113

Balance Sheet (continued)
As at 30 April 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: 




M C Salbstein
Director
Date: 26 January 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
S. Salbstein Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 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:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
The principal place of business is:
Pent Farm
Postling
Hythe
Kent
CT21 4EY 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
Page 4

 
S. Salbstein Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)


2.2
Revenue (continued)

the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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, .

Depreciation is provided on the following basis:

Freehold property
-
20 years straight line
Plant and machinery
-
25% reducing balance
Herd
-
Not depreciated

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.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
S. Salbstein Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 6

 
S. Salbstein Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

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 balance sheet 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 balance sheet 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 balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 7

 
S. Salbstein Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Herd
Total

£
£
£
£



Cost or valuation


At 1 May 2023
834,174
1,848,329
19,850
2,702,353


Additions
-
749,584
6,100
755,684


Disposals
-
(597,650)
(600)
(598,250)



At 30 April 2024

834,174
2,000,263
25,350
2,859,787



Depreciation


At 1 May 2023
312,426
1,099,572
-
1,411,998


Charge for the year on owned assets
18,958
282,960
-
301,918


Disposals
-
(302,217)
-
(302,217)



At 30 April 2024

331,384
1,080,315
-
1,411,699



Net book value



At 30 April 2024
502,790
919,948
25,350
1,448,088



At 30 April 2023
521,748
748,757
19,850
1,290,355

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
649,017
463,387

649,017
463,387

Page 8

 
S. Salbstein Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2024

5.


Debtors

2024
2023
£
£


Trade debtors
74,810
43,128

Other debtors
16,307
3,604

Prepayments and accrued income
-
22,378

91,117
69,110



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
48,156
143,003

48,156
143,003



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
33,134
76,307

Other taxation and social security
5,710
25,259

Obligations under finance lease and hire purchase contracts
102,504
121,559

Other creditors
274,367
302,018

Accruals and deferred income
9,700
16,502

425,415
541,645



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
288,575
292,139

Other creditors
253,156
253,156

541,731
545,295



Page 9