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COMPANY REGISTRATION NUMBER: 06933232
SAWS DIRECT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
SAWS DIRECT LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Debtors
5
103,150
75,043
Cash at bank and in hand
328,694
246,583
---------
---------
431,844
321,626
CREDITORS: amounts falling due within one year
6
107,793
29,381
---------
---------
NET CURRENT ASSETS
324,051
292,245
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
324,051
292,245
---------
---------
NET ASSETS
324,051
292,245
---------
---------
CAPITAL AND RESERVES
Called up share capital
50
50
Capital redemption reserve
50
50
Profit and loss account
323,951
292,145
---------
---------
SHAREHOLDERS FUNDS
324,051
292,245
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SAWS DIRECT LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 27 March 2024 , and are signed on behalf of the board by:
Mr P R Crick
Director
Company registration number: 06933232
SAWS DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 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 1 Kings Court, Kettering Parkway, Kettering, NN15 6WJ. The company trades out of 15 Telford Way, Kettering, Northamptonshire, NN16 8UN.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. TANGIBLE ASSETS
Equipment
£
Cost
At 1 January 2023 and 31 December 2023
624
----
Depreciation
At 1 January 2023 and 31 December 2023
624
----
Carrying amount
At 31 December 2023
----
At 31 December 2022
----
5. DEBTORS
2023
2022
£
£
Trade debtors
87,483
25,986
Other debtors
15,667
49,057
---------
--------
103,150
75,043
---------
--------
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
94,640
10,132
Corporation tax
9,173
18,199
Social security and other taxes
2,930
Other creditors
1,050
1,050
---------
--------
107,793
29,381
---------
--------