Registered number
13819786
Salisbury Model Centre 2022 Limited
Filleted Accounts
31 December 2024
Salisbury Model Centre 2022 Limited
Registered number: 13819786
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 42,240 44,160
Tangible assets 4 594 1,006
42,834 45,166
Current assets
Stocks 98,676 97,000
Debtors 5 289 326
Cash at bank and in hand 36,434 42,466
135,399 139,792
Creditors: amounts falling due within one year 6 (20,649) (33,040)
Net current assets 114,750 106,752
Total assets less current liabilities 157,584 151,918
Creditors: amounts falling due after more than one year 7 (89,062) (109,838)
Net assets 68,522 42,080
Capital and reserves
Called up share capital 1 1
Profit and loss account 68,521 42,079
Shareholder's funds 68,522 42,080
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Clive Osbaldeston
Director
Approved by the board on 17 June 2025
Salisbury Model Centre 2022 Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 25% reducing balace
Office equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 48,000
At 31 December 2024 48,000
Amortisation
At 1 January 2024 3,840
Provided during the year 1,920
At 31 December 2024 5,760
Net book value
At 31 December 2024 42,240
At 31 December 2023 44,160
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Fixtures & fittings Office equipment Total
£ £ £
Cost
At 1 January 2024 500 1,367 1,867
At 31 December 2024 500 1,367 1,867
Depreciation
At 1 January 2024 219 642 861
Charge for the year 70 342 412
At 31 December 2024 289 984 1,273
Net book value
At 31 December 2024 211 383 594
At 31 December 2023 281 725 1,006
5 Debtors 2024 2023
£ £
Prepayments 289 289
Other debtors - 37
289 326
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,413 2,105
Taxation and social security costs 17,226 19,985
Other creditors 1,010 10,950
20,649 33,040
7 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loan account 32,862 49,038
Other creditors 56,200 60,800
89,062 109,838
8 Other information
Salisbury Model Centre 2022 Limited is a private company limited by shares and incorporated in England. Its registered office is:
37 Fisherton Street
Salisbury
Wiltshire
SP2 7SU
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