Company Registration No. NI606638 (Northern Ireland)
Saltworks Ltd
Unaudited accounts
for the year ended 31 March 2026
Saltworks Ltd
Statement of financial position
as at 31 March 2026
Tangible assets
208,606
106,897
Cash at bank and in hand
294,781
358,876
Creditors: amounts falling due within one year
(360,104)
(385,232)
Net current assets
314,914
311,060
Total assets less current liabilities
523,520
417,957
Creditors: amounts falling due after more than one year
(73,374)
(13,027)
Net assets
450,146
404,930
Called up share capital
1,264
1,264
Profit and loss account
448,882
403,666
Shareholders' funds
450,146
404,930
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2026 and were signed on its behalf by
Paul Flanagan
Director
Company Registration No. NI606638
Saltworks Ltd
Notes to the Accounts
for the year ended 31 March 2026
Saltworks Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI606638. The registered office is Unit 1A Ryan Lane, 113 Ballygowan Road, Belfast, Co. Down, BT5 7TZ, Northern Ireland .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention unless otherwise stated within these accounting policies.
The accounts are presented in £ sterling.
Having reviewed the resources available, the directors of Saltworks Ltd believe that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of the financial statements. Accordingly, Saltworks Ltd continues to adopt the going concern basis in preparing its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from a contract to provide gritting services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Saltworks Ltd
Notes to the Accounts
for the year ended 31 March 2026
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2025
17,240
549,924
18,770
2,668
588,602
Additions
31,758
118,111
-
765
150,634
Disposals
-
(20,000)
-
-
(20,000)
At 31 March 2026
48,998
648,035
18,770
3,433
719,236
At 1 April 2025
15,022
447,457
17,663
1,563
481,705
Charge for the year
4,400
43,302
492
731
48,925
On disposals
-
(20,000)
-
-
(20,000)
At 31 March 2026
19,422
470,759
18,155
2,294
510,630
At 31 March 2026
29,576
177,276
615
1,139
208,606
At 31 March 2025
2,218
102,467
1,107
1,105
106,897
Finished goods
4,101
8,326
Amounts falling due within one year
Trade debtors
278,990
313,789
Accrued income and prepayments
86,848
5,187
Other debtors
10,298
10,114
7
Creditors: amounts falling due within one year
2026
2025
Obligations under finance leases and hire purchase contracts
54,754
32,552
Trade creditors
48,752
33,633
Taxes and social security
2,966
41,864
Other creditors
145,384
158,114
Saltworks Ltd
Notes to the Accounts
for the year ended 31 March 2026
8
Creditors: amounts falling due after more than one year
2026
2025
Obligations under finance leases and hire purchase contracts
73,374
13,027
Allotted, called up and fully paid:
822 Ordinary A shares of £1 each
822
822
442 Ordinary B shares of £1 each
442
442
10
Transactions with related parties
Included in other creditors are amounts due to connected companies of £4,751 (2025: within other debtors of £10,114).
All amounts due to / from the connected company are unsecured, interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 3 (2025: 4).