Salram Limited - Accounts to registrar (filleted) - small 23.2.5
Salram Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 March 2023 |
| for |
| Salram Limited |
| Salram Limited (Registered number: SC121294) |
| Contents of the Financial Statements |
| for the Year Ended 30 March 2023 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 |
| Salram Limited (Registered number: SC121294) |
| Balance Sheet |
| 30 March 2023 |
| 30.3.23 | 30.3.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non distributable profit and loss | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Salram Limited (Registered number: SC121294) |
| Notes to the Financial Statements |
| for the Year Ended 30 March 2023 |
| 1. | STATUTORY INFORMATION |
| Salram Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant accounting policies remain unchanged from the prior year. |
| After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Salram Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Spencross Limited, 46 Fountain Street, Manchester, M2 2BE. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the year end date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates. The main judgements and estimates made by the directors relate to the relevance of depreciation policies in relation to tangible and intangible fixed assets. |
| Salram Limited (Registered number: SC121294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 March 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Turnover |
| Turnover is derived from ordinary activities, represents the total sales value of prescriptions dispensed and other goods sold in the year and is stated net of trade discounts and Value Added Tax. Revenue is recognised to the extent that it is probable that the economic benefit will flow to the company and is measured at the fair value of the consideration received or receivable. Revenue from the National Health Service is recognised at the point the prescription is dispensed. Revenue from invoiced sales is recognised when the work is done or the goods dispatched. |
| Intangible fixed assets - goodwill |
| On the acquisition of a business purchased goodwill is capitalised in the year in which it arises and amortised over its estimated useful life up to a maximum of 20 years. |
| The assets residual values, useful lives and amortisation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date. |
| Investments |
| Investments in subsidiaries are measured at cost less provision for any impairment value. |
| Other investments are measured at fair value. |
| Tangible fixed assets |
| Freehold property | - |
| Furniture & fixtures | - |
| Motor vehicles | - |
| Office & computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. |
| Going concern |
| The directors have reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
| Employee benefits |
| The cost of short term employee benefits are recognised as a liability and an expense. |
| The cost of any unused holiday entitlement and of holidays taken in advance is recognised in the period in which the employees services are received. |
| Salram Limited (Registered number: SC121294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 March 2023 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 31 March 2022 |
| and 30 March 2023 |
| AMORTISATION |
| At 31 March 2022 |
| and 30 March 2023 |
| NET BOOK VALUE |
| At 30 March 2023 |
| At 30 March 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Office & |
| Freehold | Furniture | Motor | computer |
| property | & fixtures | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 31 March 2022 |
| and 30 March 2023 |
| DEPRECIATION |
| At 31 March 2022 |
| Charge for year |
| At 30 March 2023 |
| NET BOOK VALUE |
| At 30 March 2023 |
| At 30 March 2022 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in | Interest |
| group | in joint |
| undertakings | venture | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 31 March 2022 | 292,000 |
| Impairments | ( |
) | (246,000 | ) |
| At 30 March 2023 | 46,000 |
| NET BOOK VALUE |
| At 30 March 2023 | 46,000 |
| At 30 March 2022 | 292,000 |
| Salram Limited (Registered number: SC121294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 March 2023 |
| 6. | FIXED ASSET INVESTMENTS - continued |
| Cost or valuation at 30 March 2023 is represented by: |
| Shares in | Interest |
| group | in joint |
| undertakings | venture | Totals |
| £ | £ | £ |
| Valuation in 2020 | - | 45,063 | 45,063 |
| Valuation in 2022 | (246,000 | ) | - | (246,000 | ) |
| Cost | 246,000 | 937 | 246,937 |
| - | 46,000 | 46,000 |
| The list of subsidiaries is as follows; |
| Name | Registered office | Nature of Business | Interest |
| Properties on the Fylde Limited | 46 Fountain Street, Manchester, M2 2BE |
Property investment | 100% ordinary shares |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.3.23 | 30.3.22 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.3.23 | 30.3.22 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | RESERVES |
| Non |
| distributable |
| profit |
| and loss |
| £ |
| At 31 March 2022 |
| and 30 March 2023 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| Salram Limited (Registered number: SC121294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 March 2023 |
| 11. | RELATED PARTY DISCLOSURES |
| Anaster Limited is a subsidiary of the parent company, Spencross Limited. |
| Anaster Limited |
| During the year Salram Limited charged Anaster Limited £49,316 (2022 £32,445) in respect of recharges of heat and light. |
| At the year end Anaster Limited owed Salram Limited £391,621 (2022 £337,327). |
| Spencross Limited |
| During the year Spencross Limited charged Salram Limited a management fee of £240,000 (2022 £240,000. |
| At the year end Spencross Limited owed Salram Limited £497,086 (2022 £790,966) |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Spencross Limited. |
| The company's ultimate parent company was Spencross Limited, a company registered in England and Wales. |
| At the year end the ultimate controlling parties are the directors of Spencross Limited, Mr R Roberts and Dr D Clayton. |
| Consolidated financial statements can be obtained from 46 Fountain Street, Manchester, M2 2BE. |