Registered number
12101782
BLUE SALT FA LIMITED
Filleted Accounts
30 June 2024
BLUE SALT FA LIMITED
Registered number: 12101782
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 59,061 63,571
Current assets
Stocks 13,450 13,845
Debtors 4 3,471 4,653
Cash at bank and in hand 15,644 16,844
32,565 35,342
Creditors: amounts falling due within one year 5 (69,359) (64,254)
Net current liabilities (36,794) (28,912)
Total assets less current liabilities 22,267 34,659
Creditors: amounts falling due after more than one year 6 (18,333) (29,584)
Net assets 3,934 5,075
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,834 4,975
Shareholder's funds 3,934 5,075
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
FEYZAN AKBULUT
Director
Approved by the board on 9 July 2024
BLUE SALT FA LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Nil
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 5
3 Tangible fixed assets
Improvement Fixture and fittings Total
£ £ £
Cost
At 1 July 2023 36,665 44,946 81,611
Additions 36,665 (36,665) -
At 30 June 2024 73,330 8,281 81,611
Depreciation
At 1 July 2023 - 18,040 18,040
Charge for the year - 4,510 4,510
At 30 June 2024 - 22,550 22,550
Net book value
At 30 June 2024 73,330 (14,269) 59,061
At 30 June 2023 36,665 26,906 63,571
4 Debtors 2024 2023
£ £
Other debtors 3,471 4,653
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 16,063 18,042
Taxation and social security costs 22,283 19,363
Other creditors 31,013 26,849
69,359 64,254
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 18,333 29,584
7 Related party transactions
Included in other creditors at the year end is an amount of £15,069 (2022: £14,755 due to the director of the company, Mr F Akbulut.
8 Controlling party
Ultimate controlling party is Mr F Akbulut as director and sole shareholder of the company throughout the current year and previous year.
9 Other information
BLUE SALT FA LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1 CUMBERLAND STREET
WOODBRIDGE
IP12 4AH
BLUE SALT FA LIMITED 12101782 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 FEYZAN AKBULUT No description of principal activity 12101782 2022-07-01 2023-06-30 12101782 core:WithinOneYear 2023-06-30 12101782 core:AfterOneYear 2023-06-30 12101782 core:ShareCapital 2023-06-30 12101782 core:RetainedEarningsAccumulatedLosses 2023-06-30 12101782 2023-07-01 2024-06-30 12101782 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12101782 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12101782 bus:Director40 2023-07-01 2024-06-30 12101782 1 2023-07-01 2024-06-30 12101782 2 2023-07-01 2024-06-30 12101782 core:LandBuildings 2023-07-01 2024-06-30 12101782 core:PlantMachinery 2023-07-01 2024-06-30 12101782 countries:England 2023-07-01 2024-06-30 12101782 bus:FRS102 2023-07-01 2024-06-30 12101782 bus:FilletedAccounts 2023-07-01 2024-06-30 12101782 2024-06-30 12101782 core:WithinOneYear 2024-06-30 12101782 core:AfterOneYear 2024-06-30 12101782 core:ShareCapital 2024-06-30 12101782 core:RetainedEarningsAccumulatedLosses 2024-06-30 12101782 core:LandBuildings 2024-06-30 12101782 core:PlantMachinery 2024-06-30 12101782 2023-06-30 12101782 core:LandBuildings 2023-06-30 12101782 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure