Company registration number 05369157 (England and Wales)
SALED LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SALED LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 8
SALED LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
5
54,209
10,801
Current assets
Trade and other receivables
6
47,919
38,407
Cash and cash equivalents
15,694
130,705
63,613
169,112
Current liabilities
7
(42,236)
(107,995)
Net current assets
21,377
61,117
Net assets
75,586
71,918
Equity
Called up share capital
1
1
Retained earnings
75,585
71,917
Total equity
75,586
71,918

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 October 2025 and are signed on its behalf by:
K Fitzsimmons
Director
Company registration number 05369157 (England and Wales)
SALED LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Saled Limited is a private company limited by shares incorporated in England and Wales. The registered office is Emmaus House, The Avenue, Wilton, Salisbury, Wiltshire, SP2 0FG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have reviewed the anticipated performance of the period of at least twelve months from the date of approval of financial statements, which demonstrate that there is no material uncertainty regarding the company to meet its liabilities as they fall due, and to continue as a going concern. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.true

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

Capital grants received for the purchase of a capitalised asset is recognised over the useful li fe of that asset. The grant is recognised as deferred income and is written back to the profit and loss account in line with the depreciation policy.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

1.5
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

SALED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% Straight line
Computers
15% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

SALED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The company has an option to pay all its taxable profits to parent charity within nine months of the reporting date and as such, if paid there is no taxable profits. The gift aid payment to the parent charity will be recognised as a change in equity when the payment is made as the company does not have a legal obligation to pay its profits.

No tax provision has been made as Directors have confirmed their intent to distribute all taxable profits to its parent charity within nine months of the reporting date.

1.11
Retirement benefits

The company's parent charity operates a defined benefit scheme for its employees on its behalf. The liability and disclosure for this pension scheme is disclosed in the financial statements of the parent charity.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SALED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Intangible fixed assets
Other
£
Cost
At 1 April 2024 and 31 March 2025
24,190
Amortisation and impairment
At 1 April 2024 and 31 March 2025
24,190
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
5
Property, plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2024
68,294
18,734
87,028
Additions
61,090
-
0
61,090
At 31 March 2025
129,384
18,734
148,118
Depreciation and impairment
At 1 April 2024
59,227
17,000
76,227
Depreciation charged in the year
15,948
1,734
17,682
At 31 March 2025
75,175
18,734
93,909
Carrying amount
At 31 March 2025
54,209
-
0
54,209
At 31 March 2024
9,067
1,734
10,801
SALED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
14,003
7,752
Amounts owed by group undertakings
19,294
19,273
Other receivables
6,707
2,645
Prepayments and accrued income
7,915
8,737
47,919
38,407
7
Current liabilities
2025
2024
£
£
Trade payables
5,506
9,550
Taxation and social security
18,906
40,908
Deferred income
10,781
41,740
Other payables
1,882
9,395
Accruals and deferred income
5,161
6,402
42,236
107,995
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Robert MacDonald
Statutory Auditor:
Moore (South) LLP
Date of audit report:
31 October 2025
SALED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
9
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of property, plant and equipment
10,914
-
SALED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

During the year, £31,352 (2024: £20,102) was received from Diocese of Salisbury Academies Trust (DSAT) for office accommodation and contribution to audio visual equipment costs. Mr G Pugh is a trustee and Mrs K Fitzsimmons is a member of DSAT. At the year end £8,219 (2024: £Nil) was due to Saled Limited.

During the year, £75,460 (2024: £26,514) was received from Salisbury Diocese Board of Finance for the share of facilities and contribution to audio visual equipment costs. At the year end £Nil (2024: £Nil) was due to SALED Limited.

During the year £4,000 (2024: £Nil) was received re training and academy conversion support from Initio Learning Trust. At the year end £4,000 (2024: £Nil) was due to Saled Limited Mr N Harrison is a common trustee of Saled Limited's parent entity and Initio Learning Trust. At the year end there were no balances receivable.

11
Parent company

The company is under the control of Salisbury Diocesan Board of Education (The), a charity registered in England and Wales. Salisbury Diocesan Board of Education (The) is the company's immediate and ultimate parent undertaking by virtue of it owning 100% of the company's share capital.

The registered address of the parent undertaking is Emmaus House, The Avenue, Wilton, Wiltshire, SP2 0FG.

The company has taken advantage of the exemption under FRS 102 section 33 not to disclose details of related party transactions conducted between entities which are 100% owned within the group. The financial statements of the company are included within the consolidated financial statements of Salisbury Diocesan Board of Education (The).

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