H Salinger & Co Limited 05/04/2025 iXBRL

Company registration number: 00329301

H Salinger & Co Limited

Unaudited filleted financial statements

05 April 2025

H Salinger & Co Limited

Contents

Statement of financial position

Notes to the financial statements

H Salinger & Co Limited

Statement of financial position

5 April 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	9,538,776		9,499,389
		_______		_______
			9,538,776		9,499,389

Current assets
Debtors	6	15,500		7,212
Cash at bank and in hand		9,753		18,316
		_______		_______
		25,253		25,528
Creditors: amounts falling due
within one year	7	( 216,029)		( 191,954)
		_______		_______
Net current liabilities			( 190,776)		( 166,426)
			_______		_______
Total assets less current liabilities			9,348,000		9,332,963


Provisions for liabilities			( 1,910,660)		( 1,910,660)

			_______		_______
Net assets			7,437,340		7,422,303
			_______		_______

Capital and reserves
Called up share capital			1,000		1,000
Fair value reserve			7,378,589		7,378,589
Profit and loss account			57,751		42,714
			_______		_______
Shareholders funds			7,437,340		7,422,303
			_______		_______

For the year ending 05 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

S Salinger

Director

Company registration number: 00329301

H Salinger & Co Limited

Notes to the financial statements

Year ended 5 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 32 The Ridgeway, Friern Barnet, London, N11 3LJ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial ReportingStandard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of theCompanies 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 amounts in these financial statements are rounded to the nearest £.The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Consolidation

The company which is a 100% wholly owned subsidiary of a holding company undertaking that comprises a small group, has taken advantage of the option not to prepare consolidated financial statements contained in section 398 of the Companies act 2006 on this basis.

Turnover

Turnover is all in respect of the principal activity of letting and management of the company's unfurnished properties and represents amounts receivable for rents and the sale of properties held for resale. Rents are recognised on an accruals basis. Amounts received in advance are deferred and released to the profit and loss account when they fall due.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	Over 5 years
Fittings fixtures and equipment	-	Over 5 years

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

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 balance sheet 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 anet basis or to realise the asset and settle the liability simultaneously.Basic financial assetsBasic financial assets, which include debtors and cash and bank balances, are initially measured attransaction 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 liabilitiesFinancial 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.Basic financial liabilitiesBasic financial liabilities, including creditors, bank loans, loans from fellow group companies andpreference shares that are classified as debt, are initially recognised at transaction price unless thearrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Cash at Bank and in Hand

Cash at bank and in hand 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.

Equity Instruments

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

Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: 1 ).

5. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Investment properties	Total
	£	£	£	£
Cost
At 6 April 2024	12,426	22,695	9,480,000	9,515,121
Additions	-	-	57,851	57,851
Disposals	-	( 22,695)	-	( 22,695)
	_______	_______	_______	_______
At 5 April 2025	12,426	-	9,537,851	9,550,277
	_______	_______	_______	_______
Depreciation
At 6 April 2024	11,193	4,539	-	15,732
Charge for the year	308	3,783	-	4,091
Disposals	-	( 8,322)	-	( 8,322)
	_______	_______	_______	_______
At 5 April 2025	11,501	-	-	11,501
	_______	_______	_______	_______
Carrying amount
At 5 April 2025	925	-	9,537,851	9,538,776
	_______	_______	_______	_______
At 5 April 2024	1,233	18,156	9,480,000	9,499,389
	_______	_______	_______	_______

Investment property

A market valuation was carried out on all investment properties by Survey First Surveyors as of December 2023 resulting in a total market valuation at that time of £9,480,000. The directors are of the opinion that this value did not change significantly through to 5 April 2025 apart from capital expenditure during the year.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:


	Investment properties	Total
	£	£
At 5 April 2025
Aggregate cost	229,287	229,287
Aggregate depreciation	(69,257)	(69,257)
	_______	_______
Carrying amount	160,030	160,030
	_______	_______

At 5 April 2024
Aggregate cost	171,436	171,436
Aggregate depreciation	(69,257)	(69,257)
	_______	_______
Carrying amount	102,179	102,179
	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	15,500	-
Other debtors	-	7,212
	_______	_______
	15,500	7,212
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	9,699	29,917
Other creditors	206,330	162,037
	_______	_______
	216,029	191,954
	_______	_______

8. Fair value reserve

Included within other reserves is the fair value reserve as follows:

	2025	2024
	£	£
At start of year	7,378,589	5,822,519
Reclassification from fair value reserve to profit and loss account	-	1,556,070
	_______	_______
At end of year	7,378,589	7,378,589
	_______	_______

9. Related party transactions

As at the Balance Sheet date the company owed the directors £5,441 (2024:£652). As at the Balance Sheet date the company owed £162,240(2024: £125,000) to Salinger PM Limited, a company under common control.