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REGISTERED NUMBER: 03830444 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st December 2019

for

Salmon Properties Ltd

Salmon Properties Ltd (Registered number: 03830444)






Contents of the Financial Statements
for the Year Ended 31st December 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Salmon Properties Ltd

Company Information
for the Year Ended 31st December 2019







DIRECTORS: A Harper
K P Stoodley





SECRETARY: C Mernin





REGISTERED OFFICE: 2nd Floor
Prince Frederick House
35-39 Maddox Street
London
W1S 2PP





REGISTERED NUMBER: 03830444 (England and Wales)





ACCOUNTANTS: Meyer Williams
Chartered Accountants
Stag House
Old London Road
Hertford
Hertfordshire
SG13 7LA

Salmon Properties Ltd (Registered number: 03830444)

Balance Sheet
31st December 2019

31.12.19 31.12.18
Notes £    £   
CURRENT ASSETS
Stocks - 2,591,516
Debtors 4 468 243,933
Cash at bank 424,325 6,539
424,793 2,841,988
CREDITORS
Amounts falling due within one year 5 426,020 2,632,147
NET CURRENT (LIABILITIES)/ASSETS (1,227 ) 209,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,227

)

209,841

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,228 ) 209,840
SHAREHOLDERS' FUNDS (1,227 ) 209,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 27th August 2020 and were
signed on its behalf by:




K P Stoodley - Director



A Harper - Director


Salmon Properties Ltd (Registered number: 03830444)

Notes to the Financial Statements
for the Year Ended 31st December 2019

1. STATUTORY INFORMATION

Salmon Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered
number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (March 2018) and
the Companies Act 2006, under the historical cost convention.

The company has adopted the exemption available as a qualifying entity to take advantage of the reduced disclosure regime.

Going Concern
At the year end, the company's total liabilities exceeded its assets. However as the company continues to have the financial
support of its parent and ultimate parent company the going concern basis is still appropriate.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly
owned subsidiaries within the group.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect
the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses
during the year. The nature of estimation means that actual outcomes could differ from those estimates. The following
judgements have had a significant effect on amounts recognised in the financial statements:

The directors have made key assumptions regarding the stage of completion, future costs to complete and recoverability of
costs on some contracts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable on development contracts, excluding
discounts, rebates, value added tax and other sales taxes.

Concerted effort continues to be made to identify development opportunities and the Directors expect a significant increase in
bid success rate in future years.

Stocks
Work in progress is valued at direct cost less amounts transferred to the profit and loss account in respect of work carried out,
less foreseeable losses and payments on account. Where the outcome of a long term contract can be estimated reliably,
revenue and costs are recognised by reference to the stage of completion. Where the outcome of a long term contract cannot
be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that it is probable will be
recoverable. When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised
as an expense immediately.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


Salmon Properties Ltd (Registered number: 03830444)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2019

2. 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.

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.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement
constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a
market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any
impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term highly liquid investments that mature in no
more than three months from the date of acquisition and that are readily convertible to known amounts of cash with
insignificant risk of change in value.

Creditors
Basic short term financial liabilities, including trade and other creditors, loans from third parties and loans from related
parties, are initially recognised at transaction price. Other financial liabilities, including bank loans, are measured initially at
fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future
payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or
receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the
undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a
short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business
terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the
financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a
market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income
statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying
amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial
asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate
determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's
carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset
if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and
settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 2 ).

Salmon Properties Ltd (Registered number: 03830444)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2019

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Other debtors 468 243,933

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade creditors - 9,842
Amounts owed to group undertakings - 2,344,500
Corporation tax - 46,470
Accruals and deferred income 426,020 231,335
426,020 2,632,147

6. PARENT COMPANY AND ULTIMATE PARENT COMPANY

The ultimate parent company is Salmon Property Limited and the parent company is Salmon Developments Limited, both of
whose whose registered office is 2nd Floor, Prince Frederick House, 35-39 Maddox Street London W1S 2PP.