REGISTERED NUMBER: |
Saltend Community Development Company |
Limited |
Financial Statements for the Year Ended 31 December 2024 |
REGISTERED NUMBER: |
Saltend Community Development Company |
Limited |
Financial Statements for the Year Ended 31 December 2024 |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
Contents of the Financial Statements |
for the year ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Saltend Community Development Company |
Limited |
Company Information |
for the year ended 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
9 Market Place |
Hedon |
East Yorkshire |
HU12 8JA |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
Balance Sheet |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation Reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
Balance Sheet - continued |
31 December 2024 |
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 were approved by the Board of Directors and authorised for issue on |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
Notes to the Financial Statements |
for the year ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Saltend Community Development Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable in respect of sales of services excluding discounts, rebates, value added tax and other sales taxes and interest receivable on the client loan balance. |
Amounts received from external funders towards the company's Loan Fund are to be recognised when receivable and are shown within 'Other Operating Income' in the Profit and Loss account. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Bad debts |
Outstanding loans are recognised as bad debts if there has been no repayment of the loan in the 12 months prior to the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Cost or valuation at 31 December 2024 is represented by: |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
Valuation in 2019 | 70,731 | - | 70,731 |
Cost | 49,269 | 29,617 | 78,886 |
120,000 | 29,617 | 149,617 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 49,269 | 49,269 |
Value of land in freehold land and buildings | 120,000 | 120,000 |
Freehold Property was valued on an open market basis on 31 December 2023 by the Directors . |
Saltend Community Development Company |
Limited (Registered number: 03786722) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
Trade debtors includes an amount of £229,281 which is due after one year. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
7. | RESERVES |
Revaluation |
Reserve |
£ |
At 1 January 2024 |
and 31 December 2024 |
8. | RELATED PARTY DISCLOSURES |
The company made payments totalling £2,779 to Antony Rookes Limited for accountancy and management services in the year. Antony Rookes is a director and shareholder of Antony Rookes Limited t/a Southgates Chartered Certified Accountants. |
9. | ULTIMATE CONTROLLING PARTY |
The company has no controlling party. |