REGISTERED NUMBER: 12301723 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SALTERS FARRIERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N J Salter

REGISTERED OFFICE:

18A Manning Road

Bourne

Spalding

Lincolnshire

PE10 9HW

REGISTERED NUMBER:

12301723 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Intangible assets

4

-

5,000

Tangible assets

5

40,127

41,460

40,127

46,460

CURRENT ASSETS

Stocks

2,423

4,391

Debtors

6

937

838

Cash at bank and in hand

25,075

36,595

28,435

41,824

CREDITORS

Amounts falling due within one year

7

20,694

25,189

NET CURRENT ASSETS

7,741

16,635

TOTAL ASSETS LESS CURRENT LIABILITIES

47,868

63,095

CREDITORS

Amounts falling due after more than one year

8

(21,700

)

(25,100

)

PROVISIONS FOR LIABILITIES

(7,300

)

(10,400

)

NET ASSETS

18,868

27,595

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

18,768

27,495

SHAREHOLDERS' FUNDS

18,868

27,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 26 September 2025 and were signed by:

N J Salter - Director

1.	STATUTORY INFORMATION

Salters Farriery 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The director believes that the company is well placed to manage its financial risks successfully and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

20% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

25,000

AMORTISATION

At 1 January 2024

20,000

Charge for year

5,000

At 31 December 2024

25,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

5,000

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

-

9,495

56,266

65,761

Additions

1,799

1,379

13,000

16,178

Disposals

-

(240

)

(17,950

)

(18,190

)

At 31 December 2024

1,799

10,634

51,316

63,749

DEPRECIATION

At 1 January 2024

-

4,380

19,921

24,301

Charge for year

60

1,366

7,529

8,955

Eliminated on disposal

-

(133

)

(9,501

)

(9,634

)

At 31 December 2024

60

5,613

17,949

23,622

NET BOOK VALUE

At 31 December 2024

1,739

5,021

33,367

40,127

At 31 December 2023

-

5,115

36,345

41,460

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

230

Other debtors

937

608

937

838

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

3,400

3,400

Trade creditors

1,145

199

Taxation and social security

11,078

16,843

Other creditors

5,071

4,747

20,694

25,189

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

1,700

5,100

Other creditors

20,000

20,000

21,700

25,100