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REGISTERED NUMBER: 07795401 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Bag Of Salt Limited

Bag Of Salt Limited (Registered number: 07795401)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Bag Of Salt Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: E P Madden
Mrs K S Madden





REGISTERED OFFICE: 1st Floor, Cromwell House
14 Fulwood Place
London
WC1V 6HZ





REGISTERED NUMBER: 07795401 (England and Wales)





ACCOUNTANTS: Gorrie Whitson Limited
1st Floor, Cromwell House
14 Fulwood Place
London
WC1V 6HZ

Bag Of Salt Limited (Registered number: 07795401)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,161 24,479

CURRENT ASSETS
Stocks 275,000 244,000
Debtors 358,630 325,925
Cash at bank 528,421 187,974
1,162,051 757,899
CREDITORS
Amounts falling due within one year 475,938 345,050
NET CURRENT ASSETS 686,113 412,849
TOTAL ASSETS LESS CURRENT
LIABILITIES

715,274

437,328

CREDITORS
Amounts falling due after more than one
year

11,667

21,667
NET ASSETS 703,607 415,661

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 703,606 415,660
SHAREHOLDERS' FUNDS 703,607 415,661

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

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

The directors acknowledge their 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.

Bag Of Salt Limited (Registered number: 07795401)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





E P Madden - Director


Bag Of Salt Limited (Registered number: 07795401)

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

1. STATUTORY INFORMATION

Bag Of Salt Limited 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 - 25% on reducing balance
Furniture - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

Bag Of Salt Limited (Registered number: 07795401)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 61,512
Additions 11,272
At 31 March 2024 72,784
DEPRECIATION
At 1 April 2023 37,033
Charge for year 6,590
At 31 March 2024 43,623
NET BOOK VALUE
At 31 March 2024 29,161
At 31 March 2023 24,479

5. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 11,667 21,667