Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Mrs C Jenkins 01/05/2024 Mr D J Jenkins 19/03/2021 Mr S J Jenkins 30/04/2015 Mr D Jenkins 17 February 2025 The principal activity of the Company during the financial year was of operating a licensed restaurant and letting of property. 09569158 2024-06-30 09569158 bus:Director1 2024-06-30 09569158 bus:Director2 2024-06-30 09569158 bus:Director3 2024-06-30 09569158 2023-06-30 09569158 core:CurrentFinancialInstruments 2024-06-30 09569158 core:CurrentFinancialInstruments 2023-06-30 09569158 core:Non-currentFinancialInstruments 2024-06-30 09569158 core:Non-currentFinancialInstruments 2023-06-30 09569158 core:ShareCapital 2024-06-30 09569158 core:ShareCapital 2023-06-30 09569158 core:FurtherSpecificReserve1ComponentTotalEquity 2024-06-30 09569158 core:FurtherSpecificReserve1ComponentTotalEquity 2023-06-30 09569158 core:RetainedEarningsAccumulatedLosses 2024-06-30 09569158 core:RetainedEarningsAccumulatedLosses 2023-06-30 09569158 core:Goodwill 2023-06-30 09569158 core:Goodwill 2024-06-30 09569158 core:LandBuildings 2023-06-30 09569158 core:PlantMachinery 2023-06-30 09569158 core:Vehicles 2023-06-30 09569158 core:LandBuildings 2024-06-30 09569158 core:PlantMachinery 2024-06-30 09569158 core:Vehicles 2024-06-30 09569158 bus:OrdinaryShareClass1 2024-06-30 09569158 2023-07-01 2024-06-30 09569158 bus:FilletedAccounts 2023-07-01 2024-06-30 09569158 bus:SmallEntities 2023-07-01 2024-06-30 09569158 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09569158 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09569158 bus:Director1 2023-07-01 2024-06-30 09569158 bus:Director2 2023-07-01 2024-06-30 09569158 bus:Director3 2023-07-01 2024-06-30 09569158 bus:Director4 2023-07-01 2024-06-30 09569158 core:Goodwill core:TopRangeValue 2023-07-01 2024-06-30 09569158 core:PlantMachinery core:TopRangeValue 2023-07-01 2024-06-30 09569158 core:Vehicles 2023-07-01 2024-06-30 09569158 2022-07-01 2023-06-30 09569158 core:LandBuildings 2023-07-01 2024-06-30 09569158 core:PlantMachinery 2023-07-01 2024-06-30 09569158 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 09569158 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 09569158 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 09569158 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 09569158 1 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09569158 (England and Wales)

ROCK SALT ENTERPRISES LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

ROCK SALT ENTERPRISES LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ROCK SALT ENTERPRISES LIMITED

BALANCE SHEET

As at 30 June 2024
ROCK SALT ENTERPRISES LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 354,815 356,510
354,815 356,510
Current assets
Debtors 5 54 409
Cash at bank and in hand 21,695 55,012
21,749 55,421
Creditors: amounts falling due within one year 6 ( 184,908) ( 223,957)
Net current liabilities (163,159) (168,536)
Total assets less current liabilities 191,656 187,974
Creditors: amounts falling due after more than one year 7 ( 155,673) ( 165,406)
Provision for liabilities ( 7,148) ( 6,827)
Net assets 28,835 15,741
Capital and reserves
Called-up share capital 8 100 100
Fair value reserve 57,099 57,099
Profit and loss account ( 28,364 ) ( 41,458 )
Total shareholder's funds 28,835 15,741

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Rock Salt Enterprises Limited (registered number: 09569158) were approved and authorised for issue by the Board of Directors on 17 February 2025. They were signed on its behalf by:

Mr D Jenkins
Director
ROCK SALT ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ROCK SALT ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rock Salt Cafe and Brasserie Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp, Melville Building East, Royal William Yard, Plymouth, Devon, PL1 3GW, United Kingdom. 31 Stonehouse St, Stonehouse, Plymouth PL1 3PE.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Rental income is recognised in the period of occupancy by the tenant. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 1 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 4 years straight line
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Properties are held at fair value at the date of valuation less subsequent depreciation and impairment.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a gain reverses a previously recognised loss, or a loss exceeds the accumulated gains in equity.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 1 1
At 30 June 2024 1 1
Accumulated amortisation
At 01 July 2023 1 1
At 30 June 2024 1 1
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 July 2023 350,000 5,131 32,325 387,456
At 30 June 2024 350,000 5,131 32,325 387,456
Accumulated depreciation
At 01 July 2023 0 5,041 25,905 30,946
Charge for the financial year 0 90 1,605 1,695
At 30 June 2024 0 5,131 27,510 32,641
Net book value
At 30 June 2024 350,000 0 4,815 354,815
At 30 June 2023 350,000 90 6,420 356,510

5. Debtors

2024 2023
£ £
Other debtors 54 409

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,343 9,051
Trade creditors 0 361
Amounts owed to Group undertakings 167,011 206,455
Taxation and social security 1,152 4,655
Other creditors 7,402 3,435
184,908 223,957

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 10,887 20,521
Other creditors 144,786 144,885
155,673 165,406

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Ultimate controlling party

Parent Company:

Salumi Ltd
C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP

The most senior parent entity producing publicly available financial statements is Salumi Ltd. These financial statements are available upon request from Companies House, Crown Way, Cardiff.