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S.A.L. (U.K.) Limited |
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Unaudited Financial Statements |
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for the Year Ended 31st May 2017 |
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REGISTERED NUMBER:
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S.A.L. (U.K.) Limited |
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Unaudited Financial Statements |
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for the Year Ended 31st May 2017 |
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S.A.L. (U.K.) Limited (Registered number: 01950057) |
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Contents of the Financial Statements |
for the Year Ended 31st May 2017 |
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Company Information | 1 |
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Chartered Certified Accountants' Report | 2 |
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Abridged Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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S.A.L. (U.K.) Limited |
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Company Information |
for the Year Ended 31st May 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
71 Lambeth Walk |
London |
SE11 6DX |
Chartered Certified Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
S.A.L. (U.K.) Limited |
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The following reproduces the text of the report prepared for the directors 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 Abridged Income Statement and |
certain other primary statements and the Report of the Directors are not required to be filed with the |
Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
approval the financial statements of S.A.L. (U.K.) Limited for the year ended 31st May 2017 which |
comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the |
company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of S.A.L. (U.K.) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S.A.L. (U.K.) Limited and state those matters that we have agreed to state to the Board of Directors of S.A.L. (U.K.) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that S.A.L. (U.K.) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of S.A.L. (U.K.) Limited. You consider that S.A.L. (U.K.) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of S.A.L. (U.K.) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Certified Accountants |
71 Lambeth Walk |
London |
SE11 6DX |
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Date: ............................................. |
S.A.L. (U.K.) Limited (Registered number: 01950057) |
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Abridged Balance Sheet |
31st May 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
S.A.L. (U.K.) Limited (Registered number: 01950057) |
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Abridged Balance Sheet - continued |
31st May 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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S.A.L. (U.K.) Limited (Registered number: 01950057) |
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Notes to the Financial Statements |
for the Year Ended 31st May 2017 |
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1. | STATUTORY INFORMATION |
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S.A.L. (U.K.) Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Turnover is generated from the ordinary activities of the business and is recognized when the right to |
consideration becomes due. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Stocks |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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S.A.L. (U.K.) Limited (Registered number: 01950057) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st May 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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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. |
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Going concern |
In the directors' assessment of the company's ability to continue as a going concern, there are no |
material uncertainties that may cast significant doubt about the company's ability to continue as a |
going concern. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | PROPERTY, PLANT AND EQUIPMENT |
Totals |
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COST |
At 1st June 2016 |
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Disposals | ( |
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At 31st May 2017 |
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DEPRECIATION |
At 1st June 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st May 2017 |
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NET BOOK VALUE |
At 31st May 2017 |
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At 31st May 2016 |
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S.A.L. (U.K.) Limited (Registered number: 01950057) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st May 2017 |
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6. | LOANS |
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An analysis of the maturity of loans is given below: |
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2017 | 2016 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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8. | RESERVES |
Retained |
earnings |
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At 1st June 2016 |
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Profit for the year |
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At 31st May 2017 |
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9. | RELATED PARTY DISCLOSURES |
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Mr S A Lolavar |
Director & 50% shareholder |
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At the reporting date, the company owed £37,800 (2016: £105,350) to Mr Lolavar. |