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Registered Number: 12755274
England and Wales

 

 

 

SAPPHIRE LEICESTER LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2021

End date: 31 December 2022
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Intangible fixed assets 3 20,000   
Tangible fixed assets 4 18,716   
38,716   
Current assets      
Stocks 9,500   
Debtors 12,470   
Cash at bank and in hand 11,737    2 
33,707    2 
Creditors: amount falling due within one year (21,818)  
Net current assets 11,889    2 
 
Total assets less current liabilities 50,605    2 
Creditors: amount falling due after more than one year (110,237)  
Net liabilities (59,632)   2 
 

Capital and reserves
     
Called up share capital 5 2    2 
Profit and loss account (59,634)  
Shareholder's funds (59,632)   2 
 


For the period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 September 2023 and were signed on its behalf by:


-------------------------------
Premila Avanthi MOGANTAS
Director
1
General Information
SAPPHIRE LEICESTER LTD is a private company, limited by shares, registered in England and Wales, registration number 12755274, registration address 19 Infirmary Square, Leicester, LE1 5WR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
2.

Average number of employees

Average number of employees during the period was 5 (2021 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 August 2021  
Additions 20,000    20,000 
Disposals  
At 31 December 2022 20,000    20,000 
Amortisation
At 01 August 2021  
Charge for period  
On disposals  
At 31 December 2022  
Net book values
At 31 December 2022 20,000    20,000 
At 31 July 2021  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 August 2021  
Additions 23,396    23,396 
Disposals  
At 31 December 2022 23,396    23,396 
Depreciation
At 01 August 2021  
Charge for period 4,680    4,680 
On disposals  
At 31 December 2022 4,680    4,680 
Net book values
Closing balance as at 31 December 2022 18,716    18,716 
Opening balance as at 01 August 2021  


5.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
2 Class A shares of £1.00 each  
 

2