Company Registration No. 13419948 (England and Wales)
SASSAN LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
SASSAN LTD
COMPANY INFORMATION
Director
Mr Sassan Mokhtarzadeh
Company number
13419948
Registered office
HW Fisher LLP
Acre House
11-15 William Road
London
NW1 3ER
United Kingdom
Accountants
HW Fisher LLP
Acre House
11-15 William Road
London
NW1 3ER
United Kingdom
SASSAN LTD
CONTENTS
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 4
SASSAN LTD
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 MAY 2023
- 1 -

The director presents his annual report and financial statements for the period ended 31 May 2023.

Principal activities

The company was incorporated on 25 May 2021. The company was dormant until 17 January 2023.

 

The principal activity of the company is the sale of fine art.

Director

The director who held office during the period and up to the date of signature of the financial statements was as follows:

Mr Sassan Mokhtarzadeh
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr Sassan Mokhtarzadeh
Director
5 September 2023
SASSAN LTD
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
-
0
1
Cash at bank and in hand
89
-
0
89
1
Creditors: amounts falling due within one year
4
(2,398)
-
0
Net current (liabilities)/assets
(2,309)
1
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(2,310)
-
0
Total equity
(2,309)
1

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 5 September 2023
Mr Sassan Mokhtarzadeh
Director
Company Registration No. 13419948
SASSAN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

Sassan Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, NW1 3ER.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The validity of this assumption is on the basis of that the company will continue to be supported by the parent company. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.4
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

SASSAN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.6

Comparative Figures

The accounts relate to the period ended 31 March 2023. The comparative figures are related to the period from 25 May 2021 (date of incorporation) to 31 May 2022.

2
Employees

There were no employees during current and previous period.

3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
0
1
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,475
-
0
Accruals
923
-
0
2,398
-
0
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
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