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Registration number: 15078090

Salus Property Group Ltd

Unaudited Filleted Financial Statements

for the Period from 17 August 2023 to 31 August 2024

 

Salus Property Group Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Salus Property Group Ltd

Company Information

Directors

Mr Liam Gary Cutler

Mrs Rosina Megan Cutler

Registered office

C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

Accountants

Smith Butler
Accountants and Business AdvisorsSapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

Salus Property Group Ltd

(Registration number: 15078090)
Balance Sheet as at 31 August 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

451,147

Current assets

 

Debtors

5

1,224

Cash at bank and in hand

 

7,011

 

8,235

Creditors: Amounts falling due within one year

6

(181,725)

Net current liabilities

 

(173,490)

Total assets less current liabilities

 

277,657

Creditors: Amounts falling due after more than one year

6

(282,883)

Net liabilities

 

(5,226)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(5,326)

Shareholders' deficit

 

(5,226)

For the financial period ending 31 August 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 February 2025 and signed on its behalf by:
 

.........................................
Mr Liam Gary Cutler
Director

 

Salus Property Group Ltd

Notes to the Unaudited Financial Statements for the Period from 17 August 2023 to 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX
United Kingdom

These financial statements were authorised for issue by the Board on 5 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Salus Property Group Ltd

Notes to the Unaudited Financial Statements for the Period from 17 August 2023 to 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Salus Property Group Ltd

Notes to the Unaudited Financial Statements for the Period from 17 August 2023 to 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

448,681

3,288

451,969

At 31 August 2024

448,681

3,288

451,969

Depreciation

Charge for the period

-

822

822

At 31 August 2024

-

822

822

Carrying amount

At 31 August 2024

448,681

2,466

451,147

Included within the net book value of land and buildings above is £448,681 in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

Prepayments

274

Other debtors

950

 

1,224

 

Salus Property Group Ltd

Notes to the Unaudited Financial Statements for the Period from 17 August 2023 to 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

4,000

Other creditors

177,725

181,725

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

282,883

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

A Ordinary of £1 each

25

25

B Ordinary of £1 each

25

25

C Ordinary of £1 each

25

25

D Ordinary of £1 each

25

25

100

100

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

282,883