REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
SATRIALE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
SATRIALE LIMITED |
SATRIALE LIMITED (REGISTERED NUMBER: 09783328) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SATRIALE LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 March 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
SATRIALE LIMITED (REGISTERED NUMBER: 09783328) |
BALANCE SHEET |
31 March 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his 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. |
SATRIALE LIMITED (REGISTERED NUMBER: 09783328) |
BALANCE SHEET - continued |
31 March 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SATRIALE LIMITED (REGISTERED NUMBER: 09783328) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2022 |
1. | STATUTORY INFORMATION |
Satriale Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling (£) which is also the functional currency of the company and rounded to the nearest £. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Rental income |
The company's income derives from the rental income receivable from residential properties. Income is recognised from amounts due for the period less any void periods. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment properties are valued on an open market valuation basis, conducted annually by the directors of the company. These values are supported by periodic external market valuations. |
Stocks |
There is no sales contract in place at the balance sheet date for the disposal of development property. |
In accordance with FRS 102, the company recognizes inventories at the lower of cost and estimated selling price less costs to complete and sell. The company includes in the cost of inventories all costs of purchase, conversion and other costs incurred in bringing the inventories to their present location and condition. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
SATRIALE LIMITED (REGISTERED NUMBER: 09783328) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
2. | ACCOUNTING POLICIES - continued |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 March 2022 |
DEPRECIATION |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
SATRIALE LIMITED (REGISTERED NUMBER: 09783328) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2022 | 2021 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 176,962 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of the exemption available under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" not to disclose transactions entered into between two or more members of a group on the basis that any subsidiary undertakings which is party to the transaction is a wholly owned subsidiary undertaking within the group. |
10. | ULTIMATE PARENT COMPANY |
The company is a wholly owned subsidiary undertaking of Satriale Holdings Limited, a company registered in England and Wales. |