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REGISTERED NUMBER: 04515744 (England and Wales)















Salant Ltd

Abridged Unaudited Financial Statements for the Year Ended 31 July 2024






Salant Ltd (Registered number: 04515744)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Salant Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: A Finnis
Mrs M A Finnis



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 04515744 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Santander UK plc
PO Box 382
21 Prescot Street
London
E1 8RP

Salant Ltd (Registered number: 04515744)

Abridged Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 104,031 100,642
Investments 7 1,000 1,000
105,031 101,642

CURRENT ASSETS
Debtors 59,450 29,832
Cash at bank and in hand 81,489 23,990
140,939 53,822
CREDITORS
Amounts falling due within one year 178,432 94,945
NET CURRENT LIABILITIES (37,493 ) (41,123 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,538

60,519

PROVISIONS FOR LIABILITIES 22,241 21,125
NET ASSETS 45,297 39,394

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 45,097 39,194
SHAREHOLDERS' FUNDS 45,297 39,394

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 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.

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 Statement of Financial Position for the year ended 31 July 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 Comprehensive Income has not been delivered.

Salant Ltd (Registered number: 04515744)

Abridged Statement of Financial Position - continued
31 July 2024



The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





A Finnis - Director


Salant Ltd (Registered number: 04515744)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Salant 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Salant Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents gross invoiced sales of goods and services including value added tax at the appropriate rate.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost, 25% on reducing balance, 15% on reducing balance, 10% on reducing balance and 2% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


Salant Ltd (Registered number: 04515744)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants for the reimbursement of costs charged to the profit and loss account are credited to the profit and loss account in the year in which the costs are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2023 - 46 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023
and 31 July 2024 15,000
AMORTISATION
At 1 August 2023
and 31 July 2024 15,000
NET BOOK VALUE

At 31 July 2024 -
At 31 July 2023 -

Salant Ltd (Registered number: 04515744)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023 313,809
Additions 25,401
Disposals (1,650 )
At 31 July 2024 337,560
DEPRECIATION
At 1 August 2023 213,167
Charge for year 21,621
Eliminated on disposal (1,259 )
At 31 July 2024 233,529
NET BOOK VALUE
At 31 July 2024 104,031
At 31 July 2023 100,642

7. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 August 2023
and 31 July 2024 1,000
NET BOOK VALUE
At 31 July 2024 1,000
At 31 July 2023 1,000

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.24 31.7.23
£    £   
Within one year 72,000 72,000
Between one and five years 288,000 288,000
In more than five years 378,000 450,000
738,000 810,000

9. ULTIMATE CONTROLLING PARTY

The controlling party is A Finnis.