Abbreviated Company Accounts - THE SALT SELLER LTD

THE SALT SELLER LTD - Company Information

06312340 THE SALT SELLER LTD 2015-10-31 false 2014-11-01 2015-10-31 true 06312340 2014-11-01 2015-10-31 06312340 2015-10-31 06312340 2014-10-31 06312340 uk-gaap-cd-bus:Director1 2014-11-01 2015-10-31 06312340 uk-gaap-cd-bus:Director2 2014-11-01 2015-10-31 uk-gaap-cd-bus:Director3 2014-11-01 2015-10-31 uk-gaap-cd-bus:Director3 2015-10-31 uk-gaap-cd-bus:Director3 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 iso4217:GBP shares

Registered Number 06312340

THE SALT SELLER LTD

Abbreviated Accounts

31 October 2015

THE SALT SELLER LTD Registered Number 06312340

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	15,000	15,000
Tangible assets	3	542	723
		15,542	15,723
Current assets
Stocks		20,000	31,690
Debtors		2,447	14,252
Cash at bank and in hand		75	75
		22,522	46,017
Creditors: amounts falling due within one year		(5,924)	(11,501)
Net current assets (liabilities)		16,598	34,516
Total assets less current liabilities		32,140	50,239
Creditors: amounts falling due after more than one year		(57,528)	(58,968)
Total net assets (liabilities)		(25,388)	(8,729)
Capital and reserves
Called up share capital	4	1	1
Profit and loss account		(25,389)	(8,730)
Shareholders' funds		(25,388)	(8,729)

For the year ending 31 October 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 5 September 2016

And signed on their behalf by:
L Smith, Director

THE SALT SELLER LTD Registered Number 06312340

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT. The total turnover of the company for the year has been derived from its principal activities.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures & Fittings 25% straight line

Other accounting policies
Going Concern
We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. This support is required as the company has net liabilities of £25,388. We believe no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. In assessing going concern, we have paid particular attention to a period of not less than one year from the date of approval of the financial statements.

Stocks
Stocks are stated at the lower of cost and net realisable value. In determining the cost of raw materials, consumables and goods purchased for resale, the weighted average purchase price is used. For work in progress and finished goods cost is taken as production cost, which includes an appropriate proportion of attributable overheads.

Taxation
The charge for taxation is based on the loss for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes.
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as otherwise required by FRS 19.

2Intangible fixed assets

	£
Cost
At 1 November 2014	15,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	15,000
Amortisation
At 1 November 2014	-
Charge for the year	-
On disposals	-
At 31 October 2015	-
Net book values
At 31 October 2015	15,000
At 31 October 2014	15,000

3Tangible fixed assets

	£
Cost
At 1 November 2014	1,883
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	1,883
Depreciation
At 1 November 2014	1,160
Charge for the year	181
On disposals	-
At 31 October 2015	1,341
Net book values
At 31 October 2015	542
At 31 October 2014	723

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1 Ordinary shares of £1 each	1	1

5Transactions with directors

Name of director receiving advance or credit:	L Lenni
Description of the transaction:	DLA
Balance at 1 November 2014:	-
Advances or credits made:	£ 742
Advances or credits repaid:	-
Balance at 31 October 2015:	£ 742

There was no interest charged on this balance and there is no term for repayment.