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REGISTERED NUMBER: 08149816 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

The Saltworks Trading Company Ltd

The Saltworks Trading Company Ltd (Registered number: 08149816)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Saltworks Trading Company Ltd

Company Information
for the year ended 31 July 2024







DIRECTOR: Mr M J McDermott





REGISTERED OFFICE: Lightbounds
Wood Lane
Uttoxeter
Staffordshire
ST14 8BE





REGISTERED NUMBER: 08149816 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL

The Saltworks Trading Company Ltd (Registered number: 08149816)

Balance Sheet
31 July 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 16,990 22,844

CURRENT ASSETS
Stocks 50,000 64,900
Debtors 5 43,788 91,690
93,788 156,590
CREDITORS
Amounts falling due within one year 6 (82,487 ) (129,009 )
NET CURRENT ASSETS 11,301 27,581
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,291

50,425

CREDITORS
Amounts falling due after more than one year 7 (24,604 ) (30,932 )

PROVISIONS FOR LIABILITIES (3,230 ) (4,340 )
NET ASSETS 457 15,153

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 367 15,063
457 15,153

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by:





Mr M J McDermott - Director


The Saltworks Trading Company Ltd (Registered number: 08149816)

Notes to the Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

The Saltworks Trading Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

The Saltworks Trading Company Ltd (Registered number: 08149816)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 August 2023 18,446 43,889 62,335
Disposals - (16,390 ) (16,390 )
At 31 July 2024 18,446 27,499 45,945
DEPRECIATION
At 1 August 2023 5,727 33,764 39,491
Charge for year 2,479 3,375 5,854
Eliminated on disposal - (16,390 ) (16,390 )
At 31 July 2024 8,206 20,749 28,955
NET BOOK VALUE
At 31 July 2024 10,240 6,750 16,990
At 31 July 2023 12,719 10,125 22,844

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 41,348 83,905
Other debtors 2,440 7,785
43,788 91,690

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 59,280 41,520
Hire purchase contracts 3,229 7,670
Trade creditors 3,768 58,548
Taxation and social security 9,535 14,452
Other creditors 6,675 6,819
82,487 129,009

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 18,076 20,012
Hire purchase contracts 6,528 10,920
24,604 30,932