Company Registration No. 12587919 (England and Wales)
Sapha Limited
Unaudited financial statements
For the year ended 31 May 2023
Pages for filing with registrar
SAPHA LIMITED
Sapha Limited
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
SAPHA LIMITED
Sapha Limited
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,199
1,019
Current assets
Debtors
4
75,497
43,815
Cash at bank and in hand
301,516
165,350
377,013
209,165
Creditors: amounts falling due within one year
5
(155,391)
(127,744)
Net current assets
221,622
81,421
Net assets
223,821
82,440
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
223,721
82,340
Total equity
223,821
82,440
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 year 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 her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year 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 11 January 2024
Mrs S Koya
Director
Company registration number 12587919 (England and Wales)
SAPHA LIMITED
Sapha Limited
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2021
100
5,781
5,881
Year ended 31 May 2022:
Profit and total comprehensive income
-
126,559
126,559
Dividends
-
(50,000)
(50,000)
Balance at 31 May 2022
100
82,340
82,440
Year ended 31 May 2023:
Profit and total comprehensive income
-
191,381
191,381
Dividends
-
(50,000)
(50,000)
Balance at 31 May 2023
100
223,721
223,821
SAPHA LIMITED
Sapha Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information
Sapha Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.
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
Turnover
Turnover represents amounts receivable for legal services net of VAT.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.
1.3
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:
Plant and equipment
33% Straight Line
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.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
SAPHA LIMITED
Sapha Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 June 2022
2,032
2,032
Additions
1,173
1,329
2,502
At 31 May 2023
3,205
1,329
4,534
Depreciation and impairment
At 1 June 2022
1,013
1,013
Depreciation charged in the year
1,012
310
1,322
At 31 May 2023
2,025
310
2,335
Carrying amount
At 31 May 2023
1,180
1,019
2,199
At 31 May 2022
1,019
1,019
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
63,791
35,038
Other debtors
11,706
8,777
75,497
43,815
SAPHA LIMITED
Sapha Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
48,716
30,808
Other taxation and social security
46,130
34,940
Other creditors
60,545
61,996
155,391
127,744
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Related party transactions
During the year, dividends of £50,000 (2022: £50,000) were paid to the director