REGISTERED NUMBER: 07916848 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SALT RESORT WEAR LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms S T Alameida-Boninsegna

REGISTERED OFFICE:

1 Kings Avenue

London

N21 3NA

REGISTERED NUMBER:

07916848 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

Winchmore Hill

London

N21 3NA

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

66,361

88,562

66,361

88,562

CURRENT ASSETS

Inventories

140,000

192,068

Debtors

6

54,393

67,115

Cash at bank

5

5

194,398

259,188

CREDITORS

Amounts falling due within one year

7

158,290

192,139

NET CURRENT ASSETS

36,108

67,049

TOTAL ASSETS LESS CURRENT LIABILITIES

102,469

155,611

CREDITORS

Amounts falling due after more than one year

8

2,844,845

2,639,630

NET LIABILITIES

(2,742,376

)

(2,484,019

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,742,476

)

(2,484,119

)

(2,742,376

)

(2,484,019

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 January 2026 and were signed by:

Ms S T Alameida-Boninsegna - Director

1.	STATUTORY INFORMATION

Salt Resort Wear Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet it's liabilities to third parties as and when they fall due. Also, the director will continue to support the company when required.

Significant judgements and estimates

In the application of the company's accounting policies, the director is 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.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Property, plant and equipment

Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:

Short leasehold

Straight line over the life of the lease

Leasehold improvements

Straight line over the life of the lease

Fixtures and fittings

33% on reducing balance

Computer equipment and website

33.33% on reducing balance

Inventories

Inventories are stated at the lower of cost and net realisable value. Cost includes the purchase price and other directly attributable costs of bringing the inventories to their present location and condition.

Net realisable value represents the estimated selling price less all estimated costs of completion and selling expenses. Where the net realisable value of inventories is lower than their cost, inventories are written down, and the impairment is recognised as an expense in the profit and loss accounts.

The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

Financial instruments

Basic financial assets and liabilities, which include debtors, creditors, 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2024

and 31 January 2025

4,552

AMORTISATION

At 1 February 2024

and 31 January 2025

4,552

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	PROPERTY, PLANT AND EQUIPMENT

Computer

Fixtures

equipment

Short

Leasehold

and

and

leasehold

improvements

fittings

website

Totals

£

£

£

£

£

COST

At 1 February 2024

8,112

100,379

94,330

40,161

242,982

Additions

-

-

923

-

923

At 31 January 2025

8,112

100,379

95,253

40,161

243,905

DEPRECIATION

At 1 February 2024

8,112

20,076

91,698

34,534

154,420

Charge for year

-

20,076

1,173

1,875

23,124

At 31 January 2025

8,112

40,152

92,871

36,409

177,544

NET BOOK VALUE

At 31 January 2025

-

60,227

2,382

3,752

66,361

At 31 January 2024

-

80,303

2,632

5,627

88,562

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

2,213

Amounts owed by connected companies

8,480

8,294

Other debtors

45,913

56,608

54,393

67,115

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

22,062

21,654

Trade creditors

16,412

89,610

Taxation and social security

55,326

29,289

Other creditors

64,490

51,586

158,290

192,139

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

6,666

16,666

Other creditors

2,838,179

2,622,964

2,844,845

2,639,630

9.	RELATED PARTY DISCLOSURES