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Registered Number: 08620849
England and Wales

 

 

 

SALTAN LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Saltan Ltd for the year ended 31 July 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Saltan Ltd for the year ended 31 July 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Saltan Ltd , as a body, in accordance with the terms of our engagement letter dated 13 April 2015. Our work has been undertaken solely to prepare for your approval the accounts of Saltan Ltd and state those matters that we have agreed to state to the Board of Directors of Saltan Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Saltan Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Saltan Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Saltan Ltd. You consider that Saltan Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Saltan Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Anchor Management Solutions Limited
17 Barbe Baker Avenue
West End
Southampton
Hampshire
SO30 3RH
21 April 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 856    2,751 
856    2,751 
Current assets      
Stocks 1,760    960 
Debtors 34,088    26,827 
Cash at bank and in hand 11,982    26,288 
47,830    54,075 
Creditors: amount falling due within one year (26,564)   (54,154)
Net current assets 21,266    (79)
 
Total assets less current liabilities 22,122    2,672 
Creditors: amount falling due after more than one year (19,155)  
Provisions for liabilities (163)   (154)
Net assets 2,804    2,518 
 

Capital and reserves
     
Called up share capital 2,500    2,500 
Profit and loss account 304    18 
Shareholders' funds 2,804    2,518 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 21 April 2025 and were signed on its behalf by:


-------------------------------
Michael John SCORER
Director
2
General Information
Saltan Ltd is a private company, limited by shares, registered in England and Wales, registration number 08620849, registration address 20-22 Wenlock Road, London, N1 7GU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 30% Straight Line
Fixtures and Fittings 30% Straight Line
Plant and Machinery 30% Straight Line
Stocks
Stocks and work in progress is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 August 2023 2,491    1,556    7,953    12,000 
Additions   430      430 
Disposals      
At 31 July 2024 2,491    1,986    7,953    12,430 
Depreciation
At 01 August 2023 1,681    1,298    6,270    9,249 
Charge for year 667    231    1,427    2,325 
On disposals      
At 31 July 2024 2,348    1,529    7,697    11,574 
Net book values
Closing balance as at 31 July 2024 143    457    256    856 
Opening balance as at 01 August 2023 810    258    1,683    2,751 


4.

Guarantees



Michael John Scorer
Joint and several personal guarantee to NatWest bank re overdraft facility granted to the company

Ricky David Hanslip
Joint and several personal guarantee to NatWest bank re overdraft facility granted to the company

Alexander Justin Gulati
Joint and several personal guarantee to NatWest bank re overdraft facility granted to the company
Maximum Liability Incurred Amount Paid
2024
£
 2023
£
 2024
£
 2023
£
Michael John Scorer6,000 6,000 
Ricky David Hanslip6,000 6,000 
Alexander Justin Gulati6,000 6,000 
180001800000
3