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Registration number: 04630769

Saratosa Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2022

 

Saratosa Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Saratosa Limited

Company Information

Directors

Mr Simon Morris

Mr Stephen Coulter Wilson

Registered office

66 Milner Road
Caterham
Surrey
CR3 6JR

Accountants

David A Budgeon BA(Hons) FCCA
Chartered Certified Accountant
66 Milner Road
Caterham
Surrey
CR3 6JR

 

Saratosa Limited

(Registration number: 04630769)
Abridged Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

19,748

30,812

Current assets

 

Stocks

5

975

750

Debtors

6

10,899

10,962

Cash at bank and in hand

 

3,820

25,357

 

15,694

37,069

Prepayments and accrued income

 

867

-

Creditors: Amounts falling due within one year

(21,292)

(36,464)

Net current (liabilities)/assets

 

(4,731)

605

Total assets less current liabilities

 

15,017

31,417

Creditors: Amounts falling due after more than one year

(41,650)

(49,743)

Accruals and deferred income

 

(1,762)

(1,016)

Net liabilities

 

(28,395)

(19,342)

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

(29,395)

(20,342)

Shareholders' deficit

 

(28,395)

(19,342)

For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Saratosa Limited

(Registration number: 04630769)
Abridged Balance Sheet as at 31 January 2022

Approved and authorised by the Board on 18 August 2022 and signed on its behalf by:
 

.........................................

Mr Simon Morris

Director

 

Saratosa Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
66 Milner Road
Caterham
Surrey
CR3 6JR
United Kingdom

The principal place of business is:
45 Corio House
12 The Grange
London
SE1 3GU

These financial statements were authorised for issue by the Board on 18 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Saratosa Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% or 25% straight line as appropriate

Fixtures and fittings

10% or 20% straight line as appropriate

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Saratosa Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2021 - 5).

 

Saratosa Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2021

170,482

170,482

Additions

866

866

At 31 January 2022

171,348

171,348

Depreciation

At 1 February 2021

139,670

139,670

Charge for the year

11,930

11,930

At 31 January 2022

151,600

151,600

Carrying amount

At 31 January 2022

19,748

19,748

At 31 January 2021

30,812

30,812

5

Stocks

2022
£

2021
£

Raw materials and consumables

975

750

6

Debtors

Debtors includes £Nil (2021 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         
 

Saratosa Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

8

Dividends

   

2022

 

2021

   

£

 

£

Interim dividend of £Nil (2021 - £57.00) per ordinary share

 

-

 

57,000