Salsa Technologies Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 05958886 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2016

for

Salsa Technologies Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Grimes

A Grimes

SECRETARY:

C Grimes

REGISTERED OFFICE:

Mildura House

Kings Road

Bloxham

Banbury

Oxfordshire

OX15 4QE

REGISTERED NUMBER:

05958886 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

Chiltern House

Waterperry Court

Middleton Road

Banbury

Oxfordshire

OX16 4QG

FIXED ASSETS

Tangible assets

4

3,373

3,766

Investments

5

32,774

28,074

36,147

31,840

CURRENT ASSETS

Debtors

11,271

9,634

Cash at bank

141,862

116,250

153,133

125,884

CREDITORS

Amounts falling due within one year

128,635

112,215

NET CURRENT ASSETS

24,498

13,669

TOTAL ASSETS LESS CURRENT LIABILITIES

60,645

45,509

CAPITAL AND RESERVES

Called up share capital

6

8

5

Retained earnings

60,637

45,504

SHAREHOLDERS' FUNDS

60,645

45,509

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 12 May 2017 and were signed on its behalf by:

C Grimes - Director

1.	STATUTORY INFORMATION

Salsa Technologies 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Office equipment

-

33% on cost

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

5,875

Additions

2,090

At 31 December 2016

7,965

DEPRECIATION

At 1 January 2016

2,109

Charge for year

2,483

At 31 December 2016

4,592

NET BOOK VALUE

At 31 December 2016

3,373

At 31 December 2015

3,766

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31/12/16

31/12/15

£

£

Other investments

32,774

28,074

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/16

31/12/15

value:

£

£

5

Ordinary

£1

5

3

(31/12/15 - 3 )

3

Preference 'A'

£1

3

2

8

5

The following shares were issued during the year for cash at par :

2 Ordinary shares of £1

1 Preference 'A' share of £1

7.	RELATED PARTY DISCLOSURES

MNGP Technologies Limited

A company controlled by the director, C Grimes.

During the year management services to the value of £62,737 (2015 - £54,825) were received and rent was incurred on a

commercial basis of £12,000 (2015 - £12,000).

At the balance sheet date £6,775 (2015 - £8,349) remained outstanding and included in trade creditors.