Salbar Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 15324364

Salbar Ltd

Unaudited financial statements

31 December 2024

Salbar Ltd

Statement of financial position

31 December 2024

	31 Dec 24
Note	£	£

Fixed assets

Tangible assets	5		3,933,471

Creditors: Amounts falling due within one year	6	( 32,382)
		-------
Net current liabilities			( 32,382)
			-----------
Total assets less current liabilities			3,901,089

Creditors: Amounts falling due after more than one year	7	( 4,030,503)
		-----------
Net liabilities		( 129,414)
		-----------

Capital and reserves

Called up share capital		100
Profit and loss account		( 129,514)
		---------
Shareholders deficit		( 129,414)
		---------

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 2 September 2025 , and are signed on behalf of the board by:

W Salkinder
Director

Company registration number: 15324364

Salbar Ltd

Notes to the financial statements

Period from 3 December 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	20% straight line

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. Tangible assets

	Investment property	Fixtures and fittings	Total
	£	£	£
Cost
At 3 December 2023	–	–	–
Additions	3,894,745	39,710	3,934,455
	-----------	-------	-----------
At 31 December 2024	3,894,745	39,710	3,934,455
	-----------	-------	-----------
Depreciation
At 3 December 2023	–	–	–
Charge for the period	–	984	984
	-----------	-------	-----------
At 31 December 2024	–	984	984
	-----------	-------	-----------
Carrying amount
At 31 December 2024	3,894,745	38,726	3,933,471
	-----------	-------	-----------

The investment property has been valued at cost based on an assessment by the director at 31 December 2024.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment property
	£
At 31 December 2024
Aggregate cost	3,959,274
Aggregate depreciation	–
	-----------
Carrying value	3,959,274
	-----------

6. Creditors: Amounts falling due within one year

	31 Dec 24
	£
Other creditors	32,382
	-------

7. Creditors: Amounts falling due after more than one year

	31 Dec 24
	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	4,030,503
	-----------

8. Related party transactions

During the period, Barrow Properties (PTY) Ltd, a related party, provided lending totalling £1,702,353 to Salbar Ltd . This loan is interest free. During the period, Salbro Ltd, a related party, provided lending totalling £2,328,150. This loan is interest free.