1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10201835 2022-06-01 2023-05-31 10201835 2023-05-31 10201835 2022-05-31 10201835 2021-06-01 2022-05-31 10201835 2022-05-31 10201835 2021-05-31 10201835 bus:RegisteredOffice 2022-06-01 2023-05-31 10201835 bus:LeadAgentIfApplicable 2022-06-01 2023-05-31 10201835 bus:Director1 2022-06-01 2023-05-31 10201835 core:WithinOneYear 2023-05-31 10201835 core:WithinOneYear 2022-05-31 10201835 core:ShareCapital 2023-05-31 10201835 core:ShareCapital 2022-05-31 10201835 core:CapitalRedemptionReserve 2023-05-31 10201835 core:RetainedEarningsAccumulatedLosses 2023-05-31 10201835 core:RetainedEarningsAccumulatedLosses 2022-05-31 10201835 bus:SmallEntities 2022-06-01 2023-05-31 10201835 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10201835 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 10201835 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10201835 bus:FullAccounts 2022-06-01 2023-05-31
COMPANY REGISTRATION NUMBER: 10201835
SATORI ART GROUP LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 May 2023
SATORI ART GROUP LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
SATORI ART GROUP LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
Mrs A Mollof Tollis
Registered office
Lynton House
7-12 Tavistock Sqaure
London
UK
WC1H 9BQ
Accountants
TC BSG Valentine Limited
Accountants
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
SATORI ART GROUP LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Stocks
120,271
101,675
Debtors
5
448,348
272
Cash at bank and in hand
180,427
305,316
---------
---------
749,046
407,263
CREDITORS: amounts falling due within one year
6
( 486,583)
( 33,078)
---------
---------
NET CURRENT ASSETS
262,463
374,185
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
262,463
374,185
---------
---------
NET ASSETS
262,463
374,185
---------
---------
CAPITAL AND RESERVES
Called up share capital
500
1,000
Capital redemption reserve
500
Profit and loss account
261,463
373,185
---------
---------
SHAREHOLDERS FUNDS
262,463
374,185
---------
---------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 February 2024 , and are signed on behalf of the board by:
Mrs A Mollof Tollis
Director
Company registration number: 10201835
SATORI ART GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Sqaure, London, WC1H 9BQ, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Debtors
2023
2022
£
£
Trade debtors
442,144
Other debtors
6,204
272
---------
----
448,348
272
---------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
432,963
Corporation tax
37,180
16,586
Social security and other taxes
98
Other creditors
16,342
16,492
---------
--------
486,583
33,078
---------
--------