Company Registration No. 03239668 (England and Wales)
SATURN SPRAYING SYSTEMS LTD
Unaudited accounts
for the year ended 30 September 2023
SATURN SPRAYING SYSTEMS LTD
Statement of financial position
as at 30 September 2023
Tangible assets
18,769
21,777
Cash at bank and in hand
892
19
Creditors: amounts falling due within one year
(146,189)
(132,979)
Net current assets
118,704
69,063
Called up share capital
1,000
1,000
Profit and loss account
136,473
89,840
Shareholders' funds
137,473
90,840
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 October 2023 and were signed on its behalf by
Andre Omar Barrett
Director
Company Registration No. 03239668
SATURN SPRAYING SYSTEMS LTD
Notes to the Accounts
for the year ended 30 September 2023
SATURN SPRAYING SYSTEMS LTD is a private company, limited by shares, registered in England and Wales, registration number 03239668. The registered office is Unit 3, 13 Cobham Road, Ferndown Industrial Estate, Wimborne, Dorest, BH21 7PE, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Computer equipment
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
SATURN SPRAYING SYSTEMS LTD
Notes to the Accounts
for the year ended 30 September 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2022
107,197
720
107,917
At 30 September 2023
107,197
1,061
108,258
At 1 October 2022
86,016
124
86,140
Charge for the year
3,177
172
3,349
At 30 September 2023
89,193
296
89,489
At 30 September 2023
18,004
765
18,769
At 30 September 2022
21,181
596
21,777
Amounts falling due within one year
Trade debtors
65,131
115,111
Amounts due from group undertakings etc.
85,500
-
Accrued income and prepayments
13,469
4,360
SATURN SPRAYING SYSTEMS LTD
Notes to the Accounts
for the year ended 30 September 2023
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
18,653
131
Trade creditors
95,340
90,431
Taxes and social security
11,696
4,640
Other creditors
19,300
10,215
Loans from directors
-
21,010
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
The ultimate parent company is Barrett Ventures Ltd. The registered office of the ultimate parent company is 20-22 Wenlock Road, London, N1 7GU
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Average number of employees
During the year the average number of employees was 7 (2022: 6).