Salwata Ltd


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Company Registration No. 07246065 (England and Wales)
Salwata LtdUnaudited accounts for the year ended 31 March 2019
Salwata LtdUnaudited accounts Contents
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Salwata Ltd Company Information for the year ended 31 March 2019
Directors
J M SullivanS M Sullivam
Company Number
07246065 (England and Wales)
Registered Office
1 The AvenueWest WickhamKentBR4 0DX
Accountants
Worthweld PT Limited 5 Field End Maresfield Uckfield East Sussex TN22 2DJ
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Salwata Ltd Statement of financial position as at 31 March 2019
2019 
2018 
Notes
£ 
£ 
Fixed assets
Tangible assets
642 
947 
Current assets
Debtors
1,417 
- 
Cash at bank and in hand
111,690 
108,931 
113,107 
108,931 
Creditors: amounts falling due within one year
(11,115)
(10,051)
Net current assets
101,992 
98,880 
Total assets less current liabilities
102,634 
99,827 
Provisions for liabilities
Deferred tax
(122)
(180)
Net assets
102,512 
99,647 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
102,412 
99,547 
Shareholders' funds
102,512 
99,647 
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 21 June 2019.
J M Sullivan Director Company Registration No. 07246065
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Salwata Ltd Notes to the Accounts for the year ended 31 March 2019
1
Statutory information
Salwata Ltd is a private company, limited by shares, registered in England and Wales, registration number 07246065. The registered office is 1 The Avenue, West Wickham, Kent, BR4 0DX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, for work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Equipment: 20% per annum on the straight line basis
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Financial statements 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.
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Salwata Ltd Notes to the Accounts for the year ended 31 March 2019
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2018
5,146 
At 31 March 2019
5,146 
Depreciation
At 1 April 2018
4,199 
Charge for the year
305 
At 31 March 2019
4,504 
Net book value
At 31 March 2019
642 
At 31 March 2018
947 
5
Debtors
2019 
2018 
£ 
£ 
Trade debtors
1,417 
- 
6
Creditors: amounts falling due within one year
2019 
2018 
£ 
£ 
Taxes and social security
10,759 
9,344 
Loans from directors
56 
107 
Accruals
300 
600 
11,115 
10,051 
7
Deferred taxation
2019 
2018 
£ 
£ 
Accelerated capital allowances
122 
180 
2019 
2018 
£ 
£ 
Provision at start of year
180 
250 
Credited to the profit and loss account
(58)
(70)
Provision at end of year
122 
180 
8
Share capital
2019 
2018 
£ 
£ 
Allotted, called up and fully paid:
100Ordinary shares of £1 each
100 
100 
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Salwata Ltd Notes to the Accounts for the year ended 31 March 2019
9
Transactions with related parties
The company is controlled by the Directors. At the 31 March 2019 the Directors had made loans to the company totalling £56 (2018: £107). The Directors received dividends amounting to £38500 during the year (2018: £8000). No other transactions required reporting during the year.
10
Average number of employees
During the year the average number of employees was 2 (2018: 2).
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