IRIS Accounts Production v25.4.0.155 02804753 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 false true false false true false Fair value model Ordinary Share of £1 4,000.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02804753 2024-03-31 02804753 2025-03-31 02804753 2024-04-01 2025-03-31 02804753 2023-03-31 02804753 2023-04-01 2024-03-31 02804753 2024-03-31 02804753 ns15:EnglandWales 2024-04-01 2025-03-31 02804753 ns14:PoundSterling 2024-04-01 2025-03-31 02804753 ns10:Director1 2024-04-01 2025-03-31 02804753 ns10:Director2 2024-04-01 2025-03-31 02804753 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02804753 ns10:SmallEntities 2024-04-01 2025-03-31 02804753 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 02804753 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 02804753 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02804753 ns10:FullAccounts 2024-04-01 2025-03-31 02804753 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 02804753 ns10:CompanySecretary1 2024-04-01 2025-03-31 02804753 ns10:RegisteredOffice 2024-04-01 2025-03-31 02804753 ns5:CurrentFinancialInstruments 2025-03-31 02804753 ns5:CurrentFinancialInstruments 2024-03-31 02804753 ns5:ShareCapital 2025-03-31 02804753 ns5:ShareCapital 2024-03-31 02804753 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 02804753 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 02804753 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 02804753 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 02804753 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 02804753 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 02804753 ns5:DeferredTaxation 2024-03-31 02804753 ns5:DeferredTaxation 2025-03-31 02804753 ns10:OrdinaryShareClass1 2025-03-31 02804753 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 02804753 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 02804753 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31

REGISTERED NUMBER: 02804753 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Salazan Limited

| Salazan Limited (Registered number: 02804753) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Salazan Limited |

Company Information

for the Year Ended 31 March 2025

| Directors: | M Weinfeld

| Ms H S Ellingsen

| Secretary: | Ms H S Ellingsen

| Registered office: | Dean Farm,

| Dean Lane,

| Bishops Waltham,

| Hants,

| SO32 1FX

| Registered number: | 02804753 (England and Wales)

| Accountants: | Benjamin Taylor Diner Limited

| 120 New Cavendish Street,

| London

| W1W 6XX

| Salazan Limited (Registered number: 02804753) |

Balance Sheet

31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

Fixed assets

Investment property | 5 | 1,390,000 |  | 1,450,000 |  |

Current assets

Debtors | 6 | 2,857 |  | 6,059 |  |

Cash at bank | 200,046 |  | 168,484 |  |

202,903 |  | 174,543 |  |

Creditors

Amounts falling due within one year | 7 | (1,305,356 | ) | (1,306,501 | ) |

Net current liabilities | (1,102,453 | ) | (1,131,958 | ) |

Total assets less current liabilities | 287,547 |  | 318,042 |  |

Provisions for liabilities | 8 | (27,107 | ) | (27,107 | ) |

Net assets | 260,440 |  | 290,935 |  |

Capital and reserves

Called up share capital | 9 | 4,000 |  | 4,000 |  |

Non-distributable fair value | 10 | 6,052 |  | 66,052 |  |

Retained earnings | 10 | 250,388 |  | 220,883 |  |

Shareholders' funds | 260,440 |  | 290,935 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

| Salazan Limited (Registered number: 02804753) |

Balance Sheet - continued

31 March 2025

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2025 and were signed on its behalf by:

M Weinfeld - Director

Ms H S Ellingsen - Director

| Salazan Limited (Registered number: 02804753) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | Statutory information

| The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dean Farm, Dean Lane, Bishops Waltham, Hants, United Kingdom, SO32 1FX.

| The principal activity of the company during the year was that of property investment.

2. | Statement of compliance

| 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.

3. | Accounting policies

| Basis of preparing the financial statements

| 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.

| Turnover

| Turnover is the total amount receivable by the company for rents.

| Investment property

| Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

| Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

| Financial instruments

| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, as follows:

| Cash and cash equivalents

| These comprise cash at bank and other short-term highly liquid bank deposits.

| Debtors

| Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

| Trade creditors

| Trade creditors are not interest bearing and are stated at their nominal value.

| Salazan Limited (Registered number: 02804753) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | Accounting policies - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

| Going concern

| After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

4. | Employees and directors

| The average number of employees during the year was 2 (2024 - 2 ) .

5. | Investment property

| Total

£ |

| Fair value

| At 1 April 2024 | 1,450,000 |  |

| Revaluations | (60,000 | ) |

| At 31 March 2025 | 1,390,000 |  |

| Net book value

| At 31 March 2025 | 1,390,000 |  |

| At 31 March 2024 | 1,450,000 |  |

| The investment properties were valued by the directors at the 31st March 2025 on a fair value basis.

| No depreciation is provided in respect of these properties.

| The historical cost of the properties is £1,356,841.

| Salazan Limited (Registered number: 02804753) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | Investment property - continued

| Fair value at 31 March 2025 is represented by:

£ |

| Valuation in 2020 | 113,159 |  |

| Valuation in 2021 | 35,000 |  |

| Valuation in 2022 | 15,000 |  |

| Valuation in 2023 | (90,000 | ) |

| Valuation in 2024 | 20,000 |  |

| Valuation in 2025 | (60,000 | ) |

| Cost | 1,356,841 |  |

1,390,000 |  |

6. | Debtors: amounts falling due within one year |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 1,143 |  | 1,100 |  |

| Other debtors | 1,714 |  | 4,959 |  |

2,857 |  | 6,059 |  |

7. | Creditors: amounts falling due within one year |

| 31.3.25 |  | 31.3.24

£ | £ |

| Taxation and social security | 8,087 |  | 8,064 |  |

| Other creditors | 1,297,269 |  | 1,298,437 |  |

1,305,356 |  | 1,306,501 |  |

8. | Provisions for liabilities

| 31.3.25 |  | 31.3.24

£ | £ |

| Deferred tax

| Other timing differences | 27,107 |  | 27,107 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 27,107 |  |

| Balance at 31 March 2025 | 27,107 |  |

9. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 4,000 | Ordinary Share of £1 | 4000 | 4,000 |  | 4,000 |  |

| Called-up share capital represents the nominal value of shares that have been issued.

| Salazan Limited (Registered number: 02804753) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | Reserves

| Non-distributable |

| Retained |  | fair |

| earnings |  | value |  | Totals

£ | £ | £ |

| At 1 April 2024 | 220,883 |  | 66,052 |  | 286,935 |  |

| Deficit for the year | (30,495 | ) | (30,495 | ) |

| Investment property fair value movement net of deferred tax | 60,000 |  | (60,000 | ) | - |  |

| At 31 March 2025 | 250,388 |  | 6,052 |  | 256,440 |  |

| The retained earnings reserve records retained earnings and accumulated losses.

| The Non-distributable fair value reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.

11. | Directors' advances, credits and guarantees

| During the year the company had the following transactions with, H.S. Ellingsen, a director:

|  | 31.3.25 |  | 31.3.24 |  |

|  | £ |  | £ |  |

| Balance brought forward |  | 95,856 |  | 95,856 |  |

| Balance carried forward |  | 95,856 |  | 95,856 |  |

| During the year the company had the following transactions with, M. Weinfeld, a director:

|  | 31.3.25 |  | 31.3.24 |  |

|  | £ |  | £ |  |

| Balance brought forward |  | 94,250 |  | 94,250 |  |

| Balance carried forward |  | 94,250 |  | 94,250 |  |

| The above loans are interest free, unsecured and repayable on demand.

12. | Related party disclosures

| During the year the company had the following transactions with Meon Valley Stud, a partnership owned and controlled by H.S. Ellingsen and M. Weinfeld, who also control Salazan Limited:

|  | 31.3.25 |  | 31.3.24 |  |

|  | £ |  | £ |  |

| Balance brought forward |  | 1,101,660 |  | 1,101,660 |  |

| Balance carried forward |  | 1,101,660 |  | 1,101,660 |  |

| The loan is interest free, unsecured and repayable on demand.

| Salazan Limited (Registered number: 02804753) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

13. | Ultimate controlling party

| The controlling parties are H.S. Ellingsen and M. Weinfeld, who each owns 45% of the issued share capital of the company.