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REGISTERED NUMBER: 03786722 (England and Wales)

















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: Mr A Gordon-Freeman
Mr D Smith
Mr M E Stageman
Mr A Rookes FCCA
Mr M J Lauer





REGISTERED OFFICE: 9 Market Place
Hedon
East Yorkshire
HU12 8JA





REGISTERED NUMBER: 03786722 (England and Wales)





ACCOUNTANTS: Southgates
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 4 122,316 122,106

CURRENT ASSETS
Debtors 5 273,799 281,554
Cash at bank and in hand 172,556 236,764
446,355 518,318
CREDITORS
Amounts falling due within one year 6 6,839 7,038
NET CURRENT ASSETS 439,516 511,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

561,832

633,386

CAPITAL AND RESERVES
Called up share capital 10 10
Revaluation Reserve 7 120,000 120,000
Retained earnings 441,822 513,376
SHAREHOLDERS' FUNDS 561,832 633,386

Saltend Community Development Company
Limited (Registered number: 03786722)

Balance Sheet - continued
31 December 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





Mr M E Stageman - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 20 years
Plant and machinery - 20% on reducing balance

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 120,000 28,828 148,828
Additions - 789 789
At 31 December 2024 120,000 29,617 149,617
DEPRECIATION
At 1 January 2024 - 26,722 26,722
Charge for year - 579 579
At 31 December 2024 - 27,301 27,301
NET BOOK VALUE
At 31 December 2024 120,000 2,316 122,316
At 31 December 2023 120,000 2,106 122,106

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 264,225 272,719
Other debtors 10 10
Prepayments 9,564 8,825
273,799 281,554

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 481 632
Social security and other taxes 3,235 2,689
Accruals and deferred income 3,123 3,717
6,839 7,038

7. RESERVES
Revaluation
Reserve
£   
At 1 January 2024
and 31 December 2024 120,000

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.