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REGISTERED NUMBER: 04902685 (England and Wales)










Financial Statements

for the Year Ended 30 September 2024

for

SALIX PROJECTS LIMITED

SALIX PROJECTS LIMITED (REGISTERED NUMBER: 04902685)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SALIX PROJECTS LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: N G Ashbery
S P Timms





SECRETARY: S P Timms





REGISTERED OFFICE: 4 Sudley Road
Bognor Regis
West Sussex
PO21 1EU





REGISTERED NUMBER: 04902685 (England and Wales)





ACCOUNTANTS: Adams Beeny Limited
4 Sudley Road
Bognor Regis
West Sussex
PO21 1EU

SALIX PROJECTS LIMITED (REGISTERED NUMBER: 04902685)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 17,101 21,061

CURRENT ASSETS
Stocks 49,000 42,210
Debtors 5 93,125 120,049
Cash at bank 37,954 16,015
180,079 178,274
CREDITORS
Amounts falling due within one year 6 325,791 316,102
NET CURRENT LIABILITIES (145,712 ) (137,828 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(128,611

)

(116,767

)

CREDITORS
Amounts falling due after more than one
year

7

389,833

394,833
NET LIABILITIES (518,444 ) (511,600 )

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 (519,444 ) (512,600 )
SHAREHOLDERS' FUNDS (518,444 ) (511,600 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

SALIX PROJECTS LIMITED (REGISTERED NUMBER: 04902685)

Statement of Financial Position - continued
30 September 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 17 May 2025 and were signed on its behalf by:





S P Timms - Director


SALIX PROJECTS LIMITED (REGISTERED NUMBER: 04902685)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Salix Projects 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SALIX PROJECTS LIMITED (REGISTERED NUMBER: 04902685)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

Going concern
The accounts have been drawn up on a going concern basis, which assume the continued support of the Directors'.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 498,574 91,161 589,735
Additions - 1,741 1,741
At 30 September 2024 498,574 92,902 591,476
DEPRECIATION
At 1 October 2023 498,574 70,100 568,674
Charge for year - 5,701 5,701
At 30 September 2024 498,574 75,801 574,375
NET BOOK VALUE
At 30 September 2024 - 17,101 17,101
At 30 September 2023 - 21,061 21,061

SALIX PROJECTS LIMITED (REGISTERED NUMBER: 04902685)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 25,323
DEPRECIATION
At 1 October 2023 20,816
Charge for year 1,127
At 30 September 2024 21,943
NET BOOK VALUE
At 30 September 2024 3,380
At 30 September 2023 4,507

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 93,125 120,049

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 10,113 5,956
Taxation and social security 13,216 9,826
Other creditors 302,462 300,320
325,791 316,102

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 389,833 394,833

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 357,500 357,500

Repayable by instalments
Bank loans more 5 yr by instal 32,333 37,333

SALIX PROJECTS LIMITED (REGISTERED NUMBER: 04902685)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 October 2023 (539,776 )
Profit for the year 20,332
At 30 September 2024 (519,444 )

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
S P Timms and N G Ashbery
Balance outstanding at start of year (236,903 ) (230,677 )
Amounts advanced 499 231
Amounts repaid - (6,457 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (236,404 ) (236,903 )

The Directors' loans are interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

The Company remained under the control of it's Directors'.