Salvatex Holdings Limited - Accounts to registrar - small 17.2
Salvatex Holdings Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| FOR |
| SALVATEX HOLDINGS LIMITED |
| SALVATEX HOLDINGS LIMITED (REGISTERED NUMBER: 02971159) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SALVATEX HOLDINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SALVATEX HOLDINGS LIMITED (REGISTERED NUMBER: 02971159) |
| BALANCE SHEET |
| 31ST DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| SALVATEX HOLDINGS LIMITED (REGISTERED NUMBER: 02971159) |
| BALANCE SHEET - continued |
| 31ST DECEMBER 2016 |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| SALVATEX HOLDINGS LIMITED (REGISTERED NUMBER: 02971159) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Salvatex Holdings Limited is a |
| 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 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. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Salvatex Holdings Limited as an individual |
| company and do not contain consolidated financial information as the parent of a group. The company |
| has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated |
| financial statements. |
| 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. |
| 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 |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| The company is party to only the basic financial instruments such as cash, trade debtors and creditors |
| and loans. Instruments such as trade debtors and trade creditors are initially recognised at their |
| transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on |
| demand or due within one year, such as bank loans, are measured at amortised cost using the |
| effective interest rate. |
| SALVATEX HOLDINGS LIMITED (REGISTERED NUMBER: 02971159) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
| held under finance leases are depreciated over their estimated useful lives or the lease term, |
| whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SALVATEX HOLDINGS LIMITED (REGISTERED NUMBER: 02971159) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31st December 2016 |
| DEPRECIATION |
| At 1st January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31st December 2016 |
| NET BOOK VALUE |
| At 31st December 2016 |
| At 31st December 2015 |
| The cost of freehold buildings on which depreciation is charged amounted to £1,100,182 (2015: |
| £1,100,182). |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| Additions |
| At 31st December 2016 |
| DEPRECIATION |
| Charge for year |
| At 31st December 2016 |
| NET BOOK VALUE |
| At 31st December 2016 |
| SALVATEX HOLDINGS LIMITED (REGISTERED NUMBER: 02971159) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakin |
| £ |
| COST |
| At 1st January 2016 |
| and 31st December 2016 |
| NET BOOK VALUE |
| At 31st December 2016 |
| At 31st December 2015 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Amounts owed by associates |
| Other debtors |
| PAYE and NIC | - | 694 |
| Corporation tax |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax |
| PAYE and NIC |
| VAT | 2,285 | 4,697 |
| Other creditors |
| Directors' current accounts | 761 | 29,985 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts |
| 9. | RELATED PARTY DISCLOSURES |
| All material related party transactions with owners holding a participating interest, companies in which |
| the entity has a participating interest and directors were all concluded under normal market conditions. |