Salt and Pepper Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03912111 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31st January 2017

for

Salt and Pepper Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Mrs B J Elsmore

J J Elsmore

Miss C L Elsmore

SECRETARY:

J J Elsmore

REGISTERED OFFICE:

31 Monnow Street

Monmouth

Monmouthshire

NP25 3EF

REGISTERED NUMBER:

03912111 (England and Wales)

ACCOUNTANTS:

Wildin & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

SOLICITORS:

Edwards Geldard

Dumfries House

Dumfries Place

Cardiff

CF10 3ZF

FIXED ASSETS

Tangible assets

4

2,434,255

2,460,593

CURRENT ASSETS

Stocks

318,780

313,385

Debtors

5

13,691

17,078

Cash at bank and in hand

4,093

1,220

336,564

331,683

CREDITORS

Amounts falling due within one year

6

528,339

541,834

NET CURRENT LIABILITIES

(191,775

)

(210,151

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,242,480

2,250,442

CREDITORS

Amounts falling due after more than one year

7

(588,680

)

(615,327

)

PROVISIONS FOR LIABILITIES

(6,565

)

(11,437

)

NET ASSETS

1,647,235

1,623,678

CAPITAL AND RESERVES

Called up share capital

1,000,000

1,000,000

Share premium

500,000

500,000

Retained earnings

147,235

123,678

SHAREHOLDERS' FUNDS

1,647,235

1,623,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2017 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.

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 22nd August 2017 and were signed on its behalf by:

Mrs B J Elsmore - Director

1.	STATUTORY INFORMATION

Salt and Pepper 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 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 each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

15% on reducing balance

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 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.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st February 2016

2,392,415

241,808

2,634,223

Disposals

-

(135,051

)

(135,051

)

At 31st January 2017

2,392,415

106,757

2,499,172

DEPRECIATION

At 1st February 2016

-

173,630

173,630

Charge for year

-

9,406

9,406

Eliminated on disposal

-

(118,119

)

(118,119

)

At 31st January 2017

-

64,917

64,917

NET BOOK VALUE

At 31st January 2017

2,392,415

41,840

2,434,255

At 31st January 2016

2,392,415

68,178

2,460,593

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Other debtors

13,691

17,078

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans and overdrafts

36,239

13,023

Trade creditors

60,733

68,782

Taxation and social security

70,490

96,366

Other creditors

360,877

363,663

528,339

541,834

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans

588,680

615,327

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.17

31.1.16

£

£

Bank overdrafts

36,239

13,023

Bank loans

588,680

615,327

624,919

628,350

The bank overdraft is secured by personal guarantee.

The following reproduces the text of the report prepared for the directors and members 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st January 2017 set out on pages two to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wildin & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

22nd August 2017