Registration number: 11178805

Salts Lets Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

Salts Lets Limited

(Registration number: 11178805)
Balance Sheet as at 30 March 2025

	Note	2025 £		2024 £
Fixed assets
Investment property	4		419,013		419,013
Current assets
Debtors	5	771		567
Cash at bank and in hand		251,455		245,672
		252,226		246,239
Creditors: Amounts falling due within one year	6	(664,411)		(664,300)
Net current liabilities			(412,185)		(418,061)
Total assets less current liabilities			6,828		952
Provisions for liabilities			(4,420)		(4,420)
Net assets/(liabilities)			2,408		(3,468)
Capital and reserves
Called up share capital	7	100		100
Non-distributable reserve		13,259		13,259
Retained earnings		(10,951)		(16,827)
Shareholders' funds/(deficit)			2,408		(3,468)

For the financial year ending 30 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 November 2025
 

......................................... A M Farrow Director

Salts Lets Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

The principal place of business is:
The Piazza
First Floor Building
Salts Mill, Victoria Road
Saltaire
BD18 3LA

These financial statements were authorised for issue by the director on 25 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of rents and service charges.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Salts Lets Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

Investment property

Investment properties are carried at fair value, derived from the current market prices for comparable real estate determined annually. Valuations are based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

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 receipts discounted at a market rate of interest for a similar debt instrument.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

4	Investment properties

	2025 £
At 31 March 2024	419,013
At 30 March 2025	419,013

The investment properties were purchased in March 2019 and January 2022 and are valued at fair value.

Salts Lets Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

5

Debtors

Current	2025 £	2024 £
Trade debtors	515	-
Prepayments	256	567
	771	567

6

Creditors

	2025 £	2024 £
Due within one year
Loans and borrowings	40	40
Accruals and deferred income	1,871	1,760
Other creditors	662,500	662,500
	664,411	664,300

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

8	Related party transactions

Expenditure with and payables to related parties

2025	Key management £
Amounts payable to related party	40

2024	Key management £
Amounts payable to related party	40