Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30truefalsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseNo description of principal activity2525 02806417 2023-07-01 2024-06-30 02806417 2022-07-01 2023-06-30 02806417 2024-06-30 02806417 2023-06-30 02806417 2022-07-01 02806417 c:Director2 2023-07-01 2024-06-30 02806417 d:Buildings d:ShortLeaseholdAssets 2023-07-01 2024-06-30 02806417 d:Buildings d:ShortLeaseholdAssets 2024-06-30 02806417 d:Buildings d:ShortLeaseholdAssets 2023-06-30 02806417 d:PlantMachinery 2023-07-01 2024-06-30 02806417 d:PlantMachinery 2024-06-30 02806417 d:PlantMachinery 2023-06-30 02806417 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02806417 d:MotorVehicles 2023-07-01 2024-06-30 02806417 d:MotorVehicles 2024-06-30 02806417 d:MotorVehicles 2023-06-30 02806417 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02806417 d:ComputerEquipment 2023-07-01 2024-06-30 02806417 d:ComputerEquipment 2024-06-30 02806417 d:ComputerEquipment 2023-06-30 02806417 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02806417 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02806417 d:CurrentFinancialInstruments 2024-06-30 02806417 d:CurrentFinancialInstruments 2023-06-30 02806417 d:Non-currentFinancialInstruments 2024-06-30 02806417 d:Non-currentFinancialInstruments 2023-06-30 02806417 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02806417 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02806417 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 02806417 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02806417 d:ShareCapital 2024-06-30 02806417 d:ShareCapital 2023-06-30 02806417 d:RetainedEarningsAccumulatedLosses 2024-06-30 02806417 d:RetainedEarningsAccumulatedLosses 2023-06-30 02806417 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 02806417 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 02806417 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 02806417 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02806417 c:OrdinaryShareClass1 2023-07-01 2024-06-30 02806417 c:OrdinaryShareClass1 2024-06-30 02806417 c:OrdinaryShareClass1 2023-06-30 02806417 c:OrdinaryShareClass2 2023-07-01 2024-06-30 02806417 c:OrdinaryShareClass2 2024-06-30 02806417 c:OrdinaryShareClass2 2023-06-30 02806417 c:OrdinaryShareClass3 2023-07-01 2024-06-30 02806417 c:OrdinaryShareClass3 2024-06-30 02806417 c:OrdinaryShareClass3 2023-06-30 02806417 c:FRS102 2023-07-01 2024-06-30 02806417 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02806417 c:FullAccounts 2023-07-01 2024-06-30 02806417 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02806417 2 2023-07-01 2024-06-30 02806417 6 2023-07-01 2024-06-30 02806417 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-06-30 02806417 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-30 02806417 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-06-30 02806417 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 02806417 d:LeasedAssetsHeldAsLessee 2024-06-30 02806417 d:LeasedAssetsHeldAsLessee 2023-06-30 02806417 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02806417














THE SALVATORI GROUP OF COMPANIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024

 
THE SALVATORI GROUP OF COMPANIES LIMITED
REGISTERED NUMBER: 02806417

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note

Fixed assets
  

Tangible assets
 4 
1,486,031
1,351,474

Investments
 5 
-
320

  
1,486,031
1,351,794

Current assets
  

Stocks
  
-
4,759

Debtors: amounts falling due within one year
 6 
1,825,460
1,031,963

Cash at bank and in hand
 7 
14,585
73,164

  
1,840,045
1,109,886

Creditors: amounts falling due within one year
 8 
(1,701,082)
(865,260)

Net current assets
  
 
 
138,963
 
 
244,626

Total assets less current liabilities
  
1,624,994
1,596,420

Creditors: amounts falling due after more than one year
 9 
(361,678)
(438,734)

Provisions for liabilities
  

Deferred tax
 11 
(285,563)
(238,476)

Net assets
  
£977,753
£919,210


Capital and reserves
  

Called up share capital 
 12 
12,143
12,143

Profit and loss account
  
965,610
907,067

  
£977,753
£919,210


Page 1

 
THE SALVATORI GROUP OF COMPANIES LIMITED
REGISTERED NUMBER: 02806417

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2025.




___________________________
D L Tobin
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
THE SALVATORI GROUP OF COMPANIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Salvatori Group of Companies Limited is a private company limited by shares and is incorporated in England and Wales. The company registration number is 02806417.
The registered office of the company is 4 Covert Road, Aylesham Industrial Estate, Aylesham, Kent, CT3 3EQ, England.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
THE SALVATORI GROUP OF COMPANIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4

 
THE SALVATORI GROUP OF COMPANIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
7% straight line basis
Plant and machinery
-
10% - 33% straight line basis
Motor vehicles
-
20% - 50% straight line basis
Computer equipment
-
33% straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
THE SALVATORI GROUP OF COMPANIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 25).


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Computer equipment
Total



Cost or valuation


At 1 July 2023
91,315
2,262,230
103,218
110,316
2,567,079


Additions
-
73,042
394,394
16,158
483,594


Disposals
-
(35,531)
(1,000)
-
(36,531)



At 30 June 2024

91,315
2,299,741
496,612
126,474
3,014,142



Depreciation


At 1 July 2023
31,851
1,013,909
71,702
98,143
1,215,605


Charge for the year on owned assets
8,357
241,053
82,894
6,598
338,902


Disposals
-
(26,396)
-
-
(26,396)



At 30 June 2024

40,208
1,228,566
154,596
104,741
1,528,111



Net book value



At 30 June 2024
£51,107
£1,071,175
£342,016
£21,733
£1,486,031



At 30 June 2023
£59,465
£1,248,321
£31,516
£12,173
£1,351,475

Page 6

 
THE SALVATORI GROUP OF COMPANIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023



Plant and machinery
403,403
544,393

Motor vehicles
335,501
21,125

£738,904
£565,518


5.


Fixed asset investments





Investments in subsidiary companies





At 1 July 2023
320


Disposals
(320)



At 30 June 2024
£-





6.


Debtors

2024
2023


Trade debtors
498,721
515,531

Other debtors
1,128,776
348,952

Prepayments and accrued income
197,963
167,480

£1,825,460
£1,031,963



7.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
14,585
73,164

£14,585
£73,164


Page 7

 
THE SALVATORI GROUP OF COMPANIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023

Trade creditors
190,758
156,057

Corporation tax
46,205
-

Other taxation and social security
93,648
89,899

Obligations under finance lease and hire purchase contracts
251,122
68,767

Other creditors
1,022,405
469,509

Accruals and deferred income
96,944
81,028

£1,701,082
£865,260


Finance lease and hire purchase contracts are secured on the asset concerned.


9.


Creditors: Amounts falling due after more than one year

2024
2023

Net obligations under finance leases and hire purchase contracts
361,678
438,734

£361,678
£438,734



10.


Financial instruments

2024
2023

Financial assets


Financial assets measured at fair value through profit or loss
£14,585
£73,164




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


11.


Deferred taxation




2024
2023





At beginning of year
238,475
141,569


Charged to profit or loss
47,088
96,906



At end of year
£285,563
£238,475

Page 8

 
THE SALVATORI GROUP OF COMPANIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023


Accelerated capital allowances
285,563
238,475

£285,563
£238,475


12.


Share capital

2024
2023
Allotted, called up and fully paid



82,429 (2023 - 82,429) Ordinary A shares of £0.10 each
8,243
8,243
2,571 (2023 - 2,571) Ordinary B shares of £0.10 each
257
257
36,429 (2023 - 36,429) Ordinary C shares of £0.10 each
3,643
3,643

£12,143

£12,143



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £40,881 (2023 - £41,979). Contributions totalling £1,977 (2023 - £1,805) were payable to the fund at the balance sheet date and are included in creditors.


14.


Related party transactions

The following related party transactions took place within the year: 
During the period the company supplied goods and services to companies under common control of £731,264 (2023 - £861,358) and purchased goods and services of £380,335 (2023 - £228,404).  
At the balance sheet date the amount due from companies under common control was £1,127,603 (2023 - £340,870) and the amount owed to companies under common control was £489,626 (2023 - £243,388). The balances are interest free and repayable on demand.
During the period the company purchased services of £345,000 (2023 - £285,000) from A Salvatori Retirement Benefit Scheme. The director D A Salvatori is a beneficiary of A Salvatori Retirement Benefit Scheme.
The total amount of contingent liabilities outstanding at 30 June 2024 subject to the cross guarantee in respect of the related companies amounted to £103,789 (2023 - £497,547). 
During the year the company provided a guarantee of £64,057 (2023 - £93,708) to Salvatori Property Investments Limited. D Tobin has an interest in Salvatori Property Investments Limited as he is also a director of this company.


Page 9