0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,584,050 2,584,050 2,584,050 xbrli:pure xbrli:shares iso4217:GBP 10193594 2023-06-01 2024-05-31 10193594 2024-05-31 10193594 2023-05-31 10193594 2022-06-01 2023-05-31 10193594 2023-05-31 10193594 2022-05-31 10193594 bus:Director1 2023-06-01 2024-05-31 10193594 core:WithinOneYear 2024-05-31 10193594 core:WithinOneYear 2023-05-31 10193594 core:AfterOneYear 2024-05-31 10193594 core:AfterOneYear 2023-05-31 10193594 core:ShareCapital 2024-05-31 10193594 core:ShareCapital 2023-05-31 10193594 core:RetainedEarningsAccumulatedLosses 2024-05-31 10193594 core:RetainedEarningsAccumulatedLosses 2023-05-31 10193594 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 10193594 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 10193594 bus:SmallEntities 2023-06-01 2024-05-31 10193594 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10193594 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10193594 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10193594 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 10193594
SALBERT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 May 2024
SALBERT LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
2,584,050
2,584,050
CURRENT ASSETS
Debtors
5
1,126,954
1,086,954
Cash at bank and in hand
38,435
49,935
------------
------------
1,165,389
1,136,889
CREDITORS: amounts falling due within one year
6
( 236,405)
( 222,520)
------------
------------
NET CURRENT ASSETS
928,984
914,369
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
3,513,034
3,498,419
CREDITORS: amounts falling due after more than one year
7
( 1,439,100)
( 1,450,000)
------------
------------
NET ASSETS
2,073,934
2,048,419
------------
------------
CAPITAL AND RESERVES
Called up share capital
1,528,427
1,528,427
Profit and loss account
545,507
519,992
------------
------------
SHAREHOLDERS FUNDS
2,073,934
2,048,419
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SALBERT LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 5 February 2025 , and are signed on behalf of the board by:
S J Moran
Director
Company registration number: 10193594
SALBERT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Headingley Lane, Leeds, West Yorkshire, LS6 2AS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of rents received, exclusive of Value Added Tax.
Income tax
Deferred tax is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. TANGIBLE ASSETS
Investment Property
£
Cost
At 1 June 2023 and 31 May 2024
2,584,050
------------
Depreciation
At 1 June 2023 and 31 May 2024
------------
Carrying amount
At 31 May 2024
2,584,050
------------
At 31 May 2023
2,584,050
------------
The investment properties have been valued on an open market basis by the directors as at 31 May 2024.
5. DEBTORS
2024
2023
£
£
Other debtors
1,126,954
1,086,954
------------
------------
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
120,900
110,000
Corporation tax
19,580
31,395
Other creditors
1,235
1,235
Amounts due to related companies
54,167
37,069
Other creditors
40,523
42,821
---------
---------
236,405
222,520
---------
---------
7. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,439,100
1,450,000
------------
------------