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COMPANY REGISTRATION NUMBER: 15275523
Salbro Ltd
Unaudited financial statements
31 December 2024
Salbro Ltd
Statement of financial position
31 December 2024
31 Dec 24
Note
£
£
Fixed assets
Investments
5
50
Current assets
Debtors
6
4,030,603
Cash at bank and in hand
78,917
-----------
4,109,520
Creditors: Amounts falling due within one year
7
( 194,868)
-----------
Net current assets
3,914,652
-----------
Total assets less current liabilities
3,914,702
Creditors: Amounts falling due after more than one year
8
( 3,916,379)
-----------
Net liabilities
( 1,677)
-----------
Capital and reserves
Called up share capital
1
Profit and loss account
( 1,678)
------
Shareholders deficit
( 1,677)
------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 August 2025 , and are signed on behalf of the board by:
W Salkinder
Director
Company registration number: 15275523
Salbro Ltd
Notes to the financial statements
Period from 10 November 2023 to 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 4, 29 Ravenscroft Avenue, London, NW11 8BH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of employees during the period was 1 .
5. Investments
Shares in group undertakings
£
Cost
At 10 November 2023
Additions
50
----
At 31 December 2024
50
----
Impairment
At 10 November 2023 and 31 December 2024
----
Carrying amount
At 31 December 2024
50
----
6. Debtors
31 Dec 24
£
Other debtors
4,030,603
-----------
The debtors above include the following amounts falling due after more than one year:
31 Dec 24
£
Other debtors
4,030,603
-----------
7. Creditors: Amounts falling due within one year
31 Dec 24
£
Trade creditors
136
Other creditors
194,732
---------
194,868
---------
8. Creditors: Amounts falling due after more than one year
31 Dec 24
£
Amounts owed to group undertakings
162,500
Other creditors
3,753,879
-----------
3,916,379
-----------
9. Related party transactions
During the period, Barrow Properties (PTY) Ltd, a related party of the subsidiary Salbar Ltd, provided lending totalling £1,702,403 to Salbro Ltd . This loan is interest free. During the period, WSP Holdco Limited, the parent company and a related party, provided lending totalling £162,500 to Salbro Ltd . This loan is interest free. During the period, Salberg Property Limited, a related party under common control, provided lending totalling £2,051,476 to Salbro Ltd . This loan is interest free. During the period, Salbro Ltd provided the subsidiary, Salbar Ltd, lending totalling £4,030,603. This loan is interest free.