Company Registration No. 12559772 (England and Wales)
Salinity Solutions Ltd
Unaudited accounts
for the year ended 30 June 2023
Salinity Solutions Ltd
Unaudited accounts
Contents
Salinity Solutions Ltd
Company Information
for the year ended 30 June 2023
Directors
Timothy Naughton
Richard Bruges
Wayne Hickling
Stephen Dunn
Company Number
12559772 (England and Wales)
Registered Office
Silverstream House
45 Fitzroy Street
London
W1T 6EB
Accountants
SA Ledgers Ltd
57 Canbury Park Road
Kingston
KT2 6LQ
Salinity Solutions Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
5,424
1,827
Cash at bank and in hand
188,782
114,583
Creditors: amounts falling due within one year
(62,890)
(31,421)
Net current assets
138,341
87,271
Called up share capital
174
149
Share premium
1,565,037
842,610
Profit and loss account
(1,421,446)
(753,661)
Shareholders' funds
143,765
89,098
For the year ending 30 June 2023 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.
The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by
Richard Bruges
Director
Company Registration No. 12559772
Salinity Solutions Ltd
Notes to the Accounts
for the year ended 30 June 2023
Salinity Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 12559772. The registered office is Silverstream House, 45 Fitzroy Street, London, W1T 6EB.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The directors of Salinity Solutions Ltd in preparing the Accounts for the Period ending 30th June 2022 considered the Company to be carrying on business as a Going Concern, in accordance within the provisions under FRS 102 Section 1A.
When preparing financial statements, In assessing whether the going concern assumption is appropriate, management had taken into account all available information about the future, which was at least, but is not limited to, twelve months from the date when the financial statements were authorised for issue.
In dealing with areas of uncertainty and when management is aware, in making its assessment of material uncertainties relating to events or conditions that cast significant doubt upon the entity’s ability to continue as a going concern, the entity shall disclose those uncertainties. No such disclosures were considered necessary in preparing the Financial Statements.
The directors are able to conclude that no material uncertainties that may cast significant doubt about the company’s ability to continue as a going concern exist at the date of signing.
Expenditure on research and development is written off in the year in which it is incurred.
Salinity Solutions Ltd
Notes to the Accounts
for the year ended 30 June 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2022
-
2,248
2,248
Additions
1,500
3,773
5,273
At 30 June 2023
1,500
6,021
7,521
Charge for the year
125
1,551
1,676
At 30 June 2023
125
1,972
2,097
At 30 June 2023
1,375
4,049
5,424
At 30 June 2022
-
1,827
1,827
Amounts falling due within one year
Accrued income and prepayments
4,315
1,089
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
26,541
18,371
Taxes and social security
18,097
11,537
Other creditors
6,502
1,513
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Average number of employees
During the year the average number of employees was 6 (2022: 6).