REGISTERED NUMBER: 02849944 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

SALVESEN (UK) LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTORS:

G J Canning

C P Huston

SECRETARY:

P R Whitworth

REGISTERED OFFICE:

Pacific Chambers

East Canada Dock

Liverpool

L20 1DE

REGISTERED NUMBER:

02849944 (England and Wales)

ACCOUNTANTS:

Hunter & Co.

Chartered Accountants

415 Blackburn Road

Bolton

BL1 8NJ

FIXED ASSETS

Tangible assets

4

78,460

71,264

Investment property

5

590,000

500,434

668,460

571,698

CURRENT ASSETS

Debtors

6

636,274

947,382

Cash at bank and in hand

1,130,288

722,081

1,766,562

1,669,463

CREDITORS

Amounts falling due within one year

7

(271,692

)

(140,007

)

NET CURRENT ASSETS

1,494,870

1,529,456

TOTAL ASSETS LESS CURRENT LIABILITIES

2,163,330

2,101,154

PROVISIONS FOR LIABILITIES

(31,191

)

(5,592

)

NET ASSETS

2,132,139

2,095,562

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,132,137

2,095,560

SHAREHOLDERS' FUNDS

2,132,139

2,095,562

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

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

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2026 and were signed on its behalf by:

G J Canning - Director

1.	STATUTORY INFORMATION

Salvesen (UK) Limited 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.

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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

10% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on cost

Investment property

Investment Property,which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. No formal valuation has taken place during the year by a professional independent valuer.

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

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 9 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Motor

improvements

machinery

vehicles

Totals

£

£

£

£

COST

At 1 September 2024

91,099

457,164

158,828

707,091

Additions

-

-

43,316

43,316

Disposals

-

-

(23,774

)

(23,774

)

At 31 August 2025

91,099

457,164

178,370

726,633

DEPRECIATION

At 1 September 2024

91,098

397,686

147,043

635,827

Charge for year

1

13,506

22,612

36,119

Eliminated on disposal

-

-

(23,773

)

(23,773

)

At 31 August 2025

91,099

411,192

145,882

648,173

NET BOOK VALUE

At 31 August 2025

-

45,972

32,488

78,460

At 31 August 2024

1

59,478

11,785

71,264

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 September 2024

500,434

Revaluations

89,566

At 31 August 2025

590,000

NET BOOK VALUE

At 31 August 2025

590,000

At 31 August 2024

500,434

Cost or valuation at 31 August 2025 is represented by:

£

Valuation in 2025

590,000

Investment properties are valued by the directors at fair value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

145,068

305,207

Loan - Salvesen Properties Ltd

464,160

614,160

Prepayments and accrued income

27,046

28,015

636,274

947,382

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade Creditors

168,808

98,833

Corporation Tax

43,866

(9,590

)

Social security and other taxes

9,843

9,358

VAT

40,829

33,160

Directors' current accounts

4,946

4,946

Accrued expenses

3,400

3,300

271,692

140,007

8.	RELATED PARTY DISCLOSURES

At 31 August 2025 the company has granted loans of £464,160 (31 August 2024 - £614,160) to Salvesen Properties Limited, a company in which G Canning has a material interest as a director and shareholder. The loans are repayable on demand and are interest free.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is G J Canning.