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REGISTERED NUMBER: 02849944 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SALVESEN (UK) LIMITED

SALVESEN (UK) LIMITED (REGISTERED NUMBER: 02849944)






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


SALVESEN (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: G J Canning
C P Huston





SECRETARY: P R Whitworth





REGISTERED OFFICE: Pacific Chambers
East Canada Dock
Liverpool
L20 1DE





REGISTERED NUMBER: 02849944 (England and Wales)





ACCOUNTANTS: Hunter & Co.
Chartered Accountants
415 Blackburn Road
Bolton
BL1 8NJ

SALVESEN (UK) LIMITED (REGISTERED NUMBER: 02849944)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 71,264 78,656
Investment property 5 500,434 1,134,528
571,698 1,213,184

CURRENT ASSETS
Debtors 6 947,382 1,208,917
Cash at bank and in hand 722,081 575,003
1,669,463 1,783,920
CREDITORS
Amounts falling due within one year 7 (140,007 ) (415,612 )
NET CURRENT ASSETS 1,529,456 1,368,308
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,101,154

2,581,492

PROVISIONS FOR LIABILITIES (5,592 ) (5,592 )
NET ASSETS 2,095,562 2,575,900

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,095,560 2,575,898
SHAREHOLDERS' FUNDS 2,095,562 2,575,900

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.

SALVESEN (UK) LIMITED (REGISTERED NUMBER: 02849944)

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





G J Canning - Director


SALVESEN (UK) LIMITED (REGISTERED NUMBER: 02849944)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Salvesen (UK) 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.
Leasehold improvements - 10% on cost
Plant and machinery - 15% on cost
Motor vehicles - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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
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 9 (2023 - 9 ) .

SALVESEN (UK) LIMITED (REGISTERED NUMBER: 02849944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor
improvements machinery vehicles Totals
£    £    £    £   
COST
At 1 September 2023 91,099 425,294 158,828 675,221
Additions - 31,870 - 31,870
At 31 August 2024 91,099 457,164 158,828 707,091
DEPRECIATION
At 1 September 2023 91,098 384,031 121,436 596,565
Charge for year - 13,655 25,607 39,262
At 31 August 2024 91,098 397,686 147,043 635,827
NET BOOK VALUE
At 31 August 2024 1 59,478 11,785 71,264
At 31 August 2023 1 41,263 37,392 78,656

5. INVESTMENT PROPERTY
Total
£   
COST
At 1 September 2023 1,134,528
Disposals (634,094 )
At 31 August 2024 500,434
NET BOOK VALUE
At 31 August 2024 500,434
At 31 August 2023 1,134,528

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 305,207 405,692
Loan - Salvesen Properties Ltd 614,160 774,160
Prepayments and accrued income 28,015 29,065
947,382 1,208,917

SALVESEN (UK) LIMITED (REGISTERED NUMBER: 02849944)

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 - 318,247
Trade Creditors 98,833 11,395
Corporation Tax (9,590 ) (1,035 )
Social security and other taxes 9,358 13,362
VAT 33,160 66,532
Directors' current accounts 4,946 4,946
Accrued expenses 3,300 2,165
140,007 415,612

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan - 318,247

9. RELATED PARTY DISCLOSURES

The company has granted loans of £614,160 to Salvesen Properties Limited, a company in which G Canning has a material interest as a director and shareholder. The loans are repayable on demand and are interest free.

10. ULTIMATE CONTROLLING PARTY

The controlling party is G J Canning.