Registered number
10953748
SALZMANN AND SCHAFER LTD
Filleted Accounts
30 September 2024
SALZMANN AND SCHAFER LTD
Registered number: 10953748
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 18,833 22,156
Current assets
Stocks 137,600 190,180
Debtors 4 33,950 95,844
Cash at bank and in hand 533,308 632,210
704,858 918,234
Creditors: amounts falling due within one year 5 (6,755) (21,184)
Net current assets 698,103 897,050
Total assets less current liabilities 716,936 919,206
Creditors: amounts falling due after more than one year 6 (461,165) (683,347)
Net assets 255,771 235,859
Capital and reserves
Called up share capital 100 100
Profit and loss account 255,671 235,759
Shareholder's funds 255,771 235,859
Number Number
Average number of employee(s) 8 8
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 her 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.
QUN HUANG
Director
Approved by the board on 3 April 2025
SALZMANN AND SCHAFER LTD
Notes to the Accounts
for the year ended 30 September 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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 17,471 26,355 43,826
At 30 September 2024 17,471 26,355 43,826
Depreciation
At 1 October 2023 6,785 14,885 21,670
Charge for the year 1,603 1,720 3,323
At 30 September 2024 8,388 16,605 24,993
Net book value
At 30 September 2024 9,083 9,750 18,833
At 30 September 2023 10,686 11,470 22,156
4 Debtors 2024 2023
£ £
Trade debtors 27,976 92,844
Other debtors 5,974 3,000
33,950 95,844
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,615 21,184
6 Creditors: amounts falling due after one year 2024 2023
£ £
Trade creditors - 41,208
Amounts owed to group undertakings and undertakings in which the company has a participating interest 461,165 642,139
461,165 683,347
7 Other information
SALZMANN AND SCHAFER LTD is a private company limited by shares and incorporated in England. Its registered office is:
11F REGENT HOUSE
HEATON LANE
STOCKPORT
SK4 1BS
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