Registered Number 03114488
SALISTON LIMITED
Abbreviated Accounts
31 March 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 4 |
( |
( |
Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings - 20% reducing balance
Equipment - 25% reducing balance
Other accounting policies
In accordance with Statement of Standard Accounting Practice No. 19, the company's property is held for long-term investment and is included in the Balance Sheet at it's open market value. The surplus or deficit on revaluation of such property is transferred to the investment property revaluation reserve. The leasehold property is not amortised.
This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the Accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Amortisation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or qualified.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Financial instruments
Financial instruments 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.
Investments
Investments are included at cost less amounts written off. Profits and losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.
Investment income
Investment income comprises dividends and interest and is accounted for on a receivable basis.
£ | |
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Cost | |
At 1 April 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2016 |
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Depreciation | |
At 1 April 2015 |
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Charge for the year |
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On disposals |
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At 31 March 2016 |
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Net book values | |
At 31 March 2016 | 7,354,385 |
At 31 March 2015 | 7,356,694 |
3
Fixed assets Investments
At 1 April 2015 £322,607
Provision for diminution in value £8,486
Net Book Value
At 31 March 2016 £314,121
At 31 March 2015 £322,607
2016
£ |
2015
£ |
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Secured Debts |
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Instalment debts due after 5 years |
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