REGISTERED NUMBER: 08522926 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SALPRIME LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

S M Mcgregor

R Mcgregor

R G Mcgregor

SECRETARY:

R G Mcgregor

REGISTERED OFFICE:

2nd Floor, 55 Ludgate Hill

London

United Kingdom

EC4M 7JW

REGISTERED NUMBER:

08522926 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor, 55 Ludgate Hill

London

EC4M 7JW

CURRENT ASSETS

Stocks

4

1,199,902

965,519

Debtors

5

18,095

-

Cash and cash equivalents

6

2,737

402

1,220,734

965,921

CREDITORS

Amounts falling due within one year

7

(276,239

)

(13,385

)

NET CURRENT ASSETS

944,495

952,536

TOTAL ASSETS LESS CURRENT LIABILITIES

944,495

952,536

CAPITAL AND RESERVES

Called up share capital

8

1,010,518

1,010,518

Retained earnings

(66,023

)

(57,982

)

SHAREHOLDERS' FUNDS

944,495

952,536

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 10 October 2025 and were signed on its behalf by:

R G Mcgregor - Director

1.	GENERAL INFORMATION

The company is a private company limited by shares, which is incorporated and domiciled in the UK. The address of the company's registered office is 55 Ludgate Hill, London, EC4M 7JW.

The principle activity of the company continued to be that of property development.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

Going concern

The directors consider the going concern basis to be appropriate having paid due respect to the company's projected results during the twelve months from the date that the financial statements are approved and the anticipated cash flows, availability of bank facilities and mitigating actions that can be taken during that period.

Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements. The financial statements do not include any adjustments that would result from a withdrawal of the support outlined above.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

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

4.

STOCKS

2024

2023

£

£

Stock: Property purchase costs

1,199,902

965,519

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

18,000

-

Prepayments

95

-

18,095

-

6.	CASH AND CASH EQUIVALENTS

2024

2023

£

£

Cash at bank and in hand

2,737

402

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

19,641

-

Other creditors

121,337

9,838

Directors' current accounts

130,000

-

Accruals

5,261

3,547

276,239

13,385

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,010,518

Ordinary

1

1,010,518

1,010,518

9.	RELATED PARTY DISCLOSURES

Included within Other creditors are amounts payable to other companies under the common control of the directors £121,237 (2023: £9,738).

Included within Other debtors are amounts receivable from other companies under the common control of the directors £18,000 (2023: £Nil).

Included within Creditors, Directors' current accounts is an interest free loan of £130,000 (2023: £Nil) from the company's sole shareholder; the loan is repayable on demand.