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 07/03/2024 02/05/2013 Mr D Jenkins 17 February 2025 The principal activity of the Company during the financial year was that of a licensed restaurant. 08514970 2024-06-30 08514970 bus:Director1 2024-06-30 08514970 bus:Director2 2024-06-30 08514970 bus:Director3 2024-06-30 08514970 2023-06-30 08514970 core:CurrentFinancialInstruments 2024-06-30 08514970 core:CurrentFinancialInstruments 2023-06-30 08514970 core:Non-currentFinancialInstruments 2024-06-30 08514970 core:Non-currentFinancialInstruments 2023-06-30 08514970 core:ShareCapital 2024-06-30 08514970 core:ShareCapital 2023-06-30 08514970 core:RetainedEarningsAccumulatedLosses 2024-06-30 08514970 core:RetainedEarningsAccumulatedLosses 2023-06-30 08514970 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 08514970 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 08514970 core:LandBuildings 2023-06-30 08514970 core:PlantMachinery 2023-06-30 08514970 core:ComputerEquipment 2023-06-30 08514970 core:LandBuildings 2024-06-30 08514970 core:PlantMachinery 2024-06-30 08514970 core:ComputerEquipment 2024-06-30 08514970 core:CostValuation 2023-06-30 08514970 core:CostValuation 2024-06-30 08514970 core:MoreThanFiveYears 2024-06-30 08514970 core:MoreThanFiveYears 2023-06-30 08514970 bus:OrdinaryShareClass1 2024-06-30 08514970 bus:OrdinaryShareClass2 2024-06-30 08514970 2023-07-01 2024-06-30 08514970 bus:FilletedAccounts 2023-07-01 2024-06-30 08514970 bus:SmallEntities 2023-07-01 2024-06-30 08514970 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08514970 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08514970 bus:Director1 2023-07-01 2024-06-30 08514970 bus:Director2 2023-07-01 2024-06-30 08514970 bus:Director3 2023-07-01 2024-06-30 08514970 bus:Director4 2023-07-01 2024-06-30 08514970 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-07-01 2024-06-30 08514970 core:LandBuildings core:TopRangeValue 2023-07-01 2024-06-30 08514970 core:PlantMachinery 2023-07-01 2024-06-30 08514970 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 08514970 2022-07-01 2023-06-30 08514970 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 08514970 core:LandBuildings 2023-07-01 2024-06-30 08514970 core:ComputerEquipment 2023-07-01 2024-06-30 08514970 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 08514970 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 08514970 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 08514970 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 08514970 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 08514970 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08514970 (England and Wales)

SALUMI LIMITED

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

SALUMI LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

SALUMI LIMITED

BALANCE SHEET

As at 30 June 2024
SALUMI LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 717 896
Tangible assets 4 257,378 260,562
Investments 5 100 100
258,195 261,558
Current assets
Stocks 8,500 7,500
Debtors 6 174,159 216,488
Cash at bank and in hand 29,243 26,267
211,902 250,255
Creditors: amounts falling due within one year 7 ( 109,286) ( 108,097)
Net current assets 102,616 142,158
Total assets less current liabilities 360,811 403,716
Creditors: amounts falling due after more than one year 8 ( 297,817) ( 349,796)
Provision for liabilities ( 14,952) ( 7,899)
Net assets 48,042 46,021
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 47,942 45,921
Total shareholders' funds 48,042 46,021

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 Salumi Limited (registered number: 08514970) 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
SALUMI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
SALUMI 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

Salumi 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. The principal place of business is 18 Millbay Rd, Plymouth, PL1 3LH.

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 £.

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 activities. 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:

Development costs 5 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 50 years straight line
Plant and machinery 25 % reducing balance
Computer equipment 5 years straight line

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread 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 Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling priceless costs to complete and sell.

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.

Investments
Investments in equity shares which are publicly traded or where the far value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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 30 31

3. Intangible assets

Development costs Total
£ £
Cost
At 01 July 2023 1,750 1,750
At 30 June 2024 1,750 1,750
Accumulated amortisation
At 01 July 2023 854 854
Charge for the financial year 179 179
At 30 June 2024 1,033 1,033
Net book value
At 30 June 2024 717 717
At 30 June 2023 896 896

4. Tangible assets

Land and buildings Plant and machinery Computer equipment Total
£ £ £ £
Cost
At 01 July 2023 274,440 98,698 0 373,138
Additions 0 7,838 805 8,643
At 30 June 2024 274,440 106,536 805 381,781
Accumulated depreciation
At 01 July 2023 43,031 69,545 0 112,576
Charge for the financial year 3,209 8,517 101 11,827
At 30 June 2024 46,240 78,062 101 124,403
Net book value
At 30 June 2024 228,200 28,474 704 257,378
At 30 June 2023 231,409 29,153 0 260,562

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 100
At 30 June 2024 100
Carrying value at 30 June 2024 100
Carrying value at 30 June 2023 100

6. Debtors

2024 2023
£ £
Trade debtors 0 3,072
Amounts owed by Group undertakings 167,011 206,455
Other debtors 7,148 6,961
174,159 216,488

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,038 4,528
Trade creditors 34,034 30,586
Taxation and social security 48,852 36,467
Other creditors 20,362 36,516
109,286 108,097

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

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

2024 2023
£ £
Bank loans 30,691 36,470
Other creditors 267,126 313,326
297,817 349,796

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

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans 6,541 10,810

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
99 Ordinary A shares of £ 1.00 each 99 99
1 Ordinary B share of £ 1.00 1 1
100 100

10. Financial commitments

Other financial commitments

The total amount of non cancellable operating lease commitments not included in the balance sheet is £22,499 (2023 - £10,473).