Company registration number 04691268 (England and Wales)
SASHY & SASHY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
SASHY & SASHY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SASHY & SASHY LTD (REGISTERED NUMBER: 04691268)
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1
Current assets
Stocks
-
3,000
Debtors
4
107,589
60,455
Cash at bank and in hand
363,312
175,685
470,901
239,140
Creditors: amounts falling due within one year
5
(157,697)
(137,577)
Net current assets
313,204
101,563
Net assets
313,204
101,564
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
312,204
100,564
Total equity
313,204
101,564
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 by the board of directors and authorised for issue on 13 November 2023 and are signed on its behalf by:
Mrs Carol Pugh
Director
SASHY & SASHY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information
Sashy & Sashy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Churchdown Chambers, Bordyke, Tonbridge, Kent, TN9 1NR.
1.1
Reporting period
The accounts have been prepared for the period 6th April 2022 to 31st August 2023.
1.2
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25 % Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
SASHY & SASHY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 3 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 6 April 2022 and 31 August 2023
3,343
Depreciation and impairment
At 6 April 2022
3,342
Depreciation charged in the Period
1
At 31 August 2023
3,343
Carrying amount
At 31 August 2023
At 5 April 2022
1
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,589
10,455
Other debtors
100,000
50,000
107,589
60,455
SASHY & SASHY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
49,114
Trade creditors
8,948
Taxation and social security
98,316
38,481
Other creditors
50,433
49,982
157,697
137,577
6
Related party transactions
Last year, a loan of £50,000 was made to a company owned by a party related to Mr and Mrs Pugh. The balance at 31 March 2022 was £50,000. The loan was repaid in full by 26 April 2022.
At 31 August 2023, the company owes £32,010 (2022 £26,010) to Victoria Joinery Limited, a related company. Mr and Mrs Pugh are directors of both companies.