Salt Architects Limited - Abbreviated accounts 16.3

Salt Architects Limited - Abbreviated accounts 16.3

SALT ARCHITECTS LIMITED - Company Information

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REGISTERED NUMBER: 04806003 (England and Wales)

















Salt Architects Limited

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016





Southgates
Chartered Certified Accountants
Owthorne Manor
2 Hubert Street
Withernsea
East Yorkshire
HU19 2AT








Salt Architects Limited (Registered number: 04806003)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 July 2016




Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

Salt Architects Limited (Registered number: 04806003)

ABBREVIATED BALANCE SHEET
31 July 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 21,000 24,000
Tangible assets 3 4,856 8,145
25,856 32,145

CURRENT ASSETS
Debtors 113,499 77,382
Cash at bank and in hand 241 5,211
113,740 82,593
CREDITORS
Amounts falling due within one year 65,672 53,316
NET CURRENT ASSETS 48,068 29,277
TOTAL ASSETS LESS CURRENT
LIABILITIES
73,924
61,422

CREDITORS
Amounts falling due after more than one
year
(11,899
)
-

PROVISIONS FOR LIABILITIES (598 ) (288 )
NET ASSETS 61,427 61,134

CAPITAL AND RESERVES
Called up share capital 4 42 42
Capital redemption reserve 18 18
Profit and loss account 61,367 61,074
SHAREHOLDERS' FUNDS 61,427 61,134

The notes form part of these abbreviated accounts

Page 1
Salt Architects Limited (Registered number: 04806003)

ABBREVIATED BALANCE SHEET - continued
31 July 2016


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 13 April 2017 and were signed on its behalf by:




Mr G Hornsby - Director



Mrs B Hansford - Director


The notes form part of these abbreviated accounts

Page 2
Salt Architects Limited (Registered number: 04806003)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 July 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts
where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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

Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or
a right to pay less or to receive more, tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in
which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance
sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that
evidences a residual interest in the assets of the company after deducting all of its liabilities.

Page 3
Salt Architects Limited (Registered number: 04806003)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 July 2016

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 August 2015
and 31 July 2016 60,000
AMORTISATION
At 1 August 2015 36,000
Amortisation for year 3,000
At 31 July 2016 39,000
NET BOOK VALUE

At 31 July 2016 21,000
At 31 July 2015 24,000

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 August 2015 53,109
Disposals (10,379 )
At 31 July 2016 42,730
DEPRECIATION
At 1 August 2015 44,964
Charge for year 2,005
Eliminated on disposal (9,095 )
At 31 July 2016 37,874
NET BOOK VALUE
At 31 July 2016 4,856
At 31 July 2015 8,145

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
60 Ordinary 1.00 42 42

Page 4