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REGISTERED NUMBER: 06964509 (England and Wales)










Salisbury & Company Business Solutions
Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Salisbury & Company Business Solutions
Limited (Registered number: 06964509)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Salisbury & Company Business Solutions
Limited

Company Information
for the year ended 31 August 2024







DIRECTORS: Mr J C Salisbury
Mr A O Roberts
Mr P J Matischok





REGISTERED OFFICE: Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN





REGISTERED NUMBER: 06964509 (England and Wales)






Salisbury & Company Business Solutions
Limited (Registered number: 06964509)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 431,766 463,516
Tangible assets 5 515,298 470,680
947,064 934,196

CURRENT ASSETS
Work-in-Progress 362,976 286,504
Debtors 6 859,251 698,402
Cash at bank and in hand 132,232 16
1,354,459 984,922
CREDITORS
Amounts falling due within one year 7 1,038,505 918,851
NET CURRENT ASSETS 315,954 66,071
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,263,018

1,000,267

CREDITORS
Amounts falling due after more than one
year

8

(334,111

)

(185,595

)

PROVISIONS FOR LIABILITIES (43,024 ) (32,792 )
NET ASSETS 885,883 781,880

CAPITAL AND RESERVES
Called up share capital 225,051 225,051
Revaluation reserve 10 26,316 26,316
Retained earnings 634,516 530,513
SHAREHOLDERS' FUNDS 885,883 781,880

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Salisbury & Company Business Solutions
Limited (Registered number: 06964509)

Balance Sheet - continued
31 August 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





Mr J C Salisbury - Director


Salisbury & Company Business Solutions
Limited (Registered number: 06964509)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Salisbury & Company Business Solutions 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.

Within the financial year the World Health Organisation (WHO) declared Covid-19 as a worldwide pandemic. In relation to this the directors have reviewed the company's performance throughout the period and subsequent to the year end and, as a result believe that the preparation of the financial statements on the going concern basis is appropriate.

Turnover
Turnover represents work done at the appropriate charge out rates plus direct charges in respect of other services provided, excluding Value Added Tax

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Work in progress
Work in progress is valued at the full amount of uninvoiced time at the standard charge out rate less an appropriate discount for anticipated write downs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Salisbury & Company Business Solutions
Limited (Registered number: 06964509)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 827,014
AMORTISATION
At 1 September 2023 363,498
Charge for year 31,750
At 31 August 2024 395,248
NET BOOK VALUE
At 31 August 2024 431,766
At 31 August 2023 463,516

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 325,000 327,079 652,079
Additions - 112,618 112,618
Disposals - (60,138 ) (60,138 )
At 31 August 2024 325,000 379,559 704,559
DEPRECIATION
At 1 September 2023 - 181,399 181,399
Charge for year - 50,606 50,606
Eliminated on disposal - (42,744 ) (42,744 )
At 31 August 2024 - 189,261 189,261
NET BOOK VALUE
At 31 August 2024 325,000 190,298 515,298
At 31 August 2023 325,000 145,680 470,680

Salisbury & Company Business Solutions
Limited (Registered number: 06964509)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 August 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 325,000 165,040 490,040
Valuation in 2020 - 88,107 88,107
Valuation in 2021 - 17,461 17,461
Valuation in 2022 - 41,084 41,084
Valuation in 2023 - 15,387 15,387
Valuation in 2024 - 52,480 52,480
325,000 379,559 704,559

If freehold land & buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 298,684 298,684

Freehold land & buildings were valued on an open market basis basis on 24 October 2022 by Fisher German .

The directors are of the opinion that there has been no material change in the valuation of the freehold land & buildings since the last professional valuation.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 September 2023 141,520
Additions 93,755
Disposals (57,850 )
At 31 August 2024 177,425
DEPRECIATION
At 1 September 2023 97,519
Charge for year 28,866
Eliminated on disposal (41,053 )
At 31 August 2024 85,332
NET BOOK VALUE
At 31 August 2024 92,093
At 31 August 2023 44,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 391,541 368,900
Amounts owed by group undertakings 446,557 315,915
Other debtors 21,153 13,587
859,251 698,402

Salisbury & Company Business Solutions
Limited (Registered number: 06964509)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 92,500 179,990
Hire purchase contracts 23,000 9,000
Taxation and social security 393,605 364,996
Other creditors 529,400 364,865
1,038,505 918,851

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 250,336 155,582
Hire purchase contracts 83,775 30,013
334,111 185,595

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 82,797
Bank loans 342,836 252,775
342,836 335,572

The bank borrowings are secured by a fixed and floating charge against the assets of the Company, by a Personal, Secured Guarantee from Mr J.C. Salisbury and a Personal Guarantee from Mr A.O. Roberts.

10. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 26,316