Saltwater Communications Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03331485 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

SALTWATER COMMUNICATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

C Bartlett

Mrs G Bartlett

SECRETARY:

Mrs G Bartlett

REGISTERED OFFICE:

Limosa House

22 Strand Street

Poole

Dorset

BH15 1SB

REGISTERED NUMBER:

03331485 (England and Wales)

ACCOUNTANTS:

Carter & Coley

Chartered Accountants

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

4

18,432

22,746

CURRENT ASSETS

Debtors

5

233,194

92,330

Cash at bank and in hand

297,045

246,578

530,239

338,908

CREDITORS

Amounts falling due within one year

6

500,720

311,538

NET CURRENT ASSETS

29,519

27,370

TOTAL ASSETS LESS CURRENT LIABILITIES

47,951

50,116

PROVISIONS FOR LIABILITIES

3,502

4,322

NET ASSETS

44,449

45,794

CAPITAL AND RESERVES

Called up share capital

12

12

Retained earnings

44,437

45,782

SHAREHOLDERS' FUNDS

44,449

45,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2021 and were signed on its behalf by:

Mrs G Bartlett - Director

1.	STATUTORY INFORMATION

Saltwater Communications 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.

Turnover

Turnover represents services provided during the period, exclusive of Value Added Tax.

Tangible fixed assets

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

Short leasehold

-

Straight line over 25 years

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Government grants

Grants will be included in the Statement of Income and Retained Earnings on a receivable basis. Where entitlement occurs before income is received, the income will be accrued.

Grants relating to revenue are recognised in profit and loss on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2020

and 31 March 2021

15,826

31,429

67,811

115,066

DEPRECIATION

At 1 April 2020

7,804

25,184

59,332

92,320

Charge for year

633

1,561

2,120

4,314

At 31 March 2021

8,437

26,745

61,452

96,634

NET BOOK VALUE

At 31 March 2021

7,389

4,684

6,359

18,432

At 31 March 2020

8,022

6,245

8,479

22,746

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

224,008

92,330

Other debtors

8,814

-

Prepayments

372

-

233,194

92,330

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

78,444

130,798

Corporation tax

29,411

15,903

Social security and other taxes

4,981

5,850

VAT

67,506

34,011

Other creditors

10,231

1,026

Accrued expenses

310,147

123,950

500,720

311,538

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Saltwater Communications Limited for the year ended 31 March 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Saltwater Communications Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Saltwater Communications Limited and state those matters that we have agreed to state to the Board of Directors of Saltwater Communications Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Saltwater Communications Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Saltwater Communications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Saltwater Communications Limited. You consider that Saltwater Communications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Saltwater Communications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carter & Coley

Chartered Accountants

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

Date: .............................................