Caseware UK (AP4) 2022.0.179 2022.0.179 2024-03-312024-03-312023-04-01falseInformation technology consultancy activities1218truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08826207 2023-04-01 2024-03-31 08826207 2022-04-01 2023-03-31 08826207 2024-03-31 08826207 2023-03-31 08826207 c:Director1 2023-04-01 2024-03-31 08826207 d:PlantMachinery 2023-04-01 2024-03-31 08826207 d:PlantMachinery 2024-03-31 08826207 d:PlantMachinery 2023-03-31 08826207 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08826207 d:OfficeEquipment 2023-04-01 2024-03-31 08826207 d:ComputerEquipment 2023-04-01 2024-03-31 08826207 d:CurrentFinancialInstruments 2024-03-31 08826207 d:CurrentFinancialInstruments 2023-03-31 08826207 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08826207 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08826207 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08826207 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08826207 d:ShareCapital 2024-03-31 08826207 d:ShareCapital 2023-03-31 08826207 d:SharePremium 2024-03-31 08826207 d:SharePremium 2023-03-31 08826207 d:RetainedEarningsAccumulatedLosses 2024-03-31 08826207 d:RetainedEarningsAccumulatedLosses 2023-03-31 08826207 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08826207 c:OrdinaryShareClass1 2024-03-31 08826207 c:OrdinaryShareClass1 2023-03-31 08826207 c:FRS102 2023-04-01 2024-03-31 08826207 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08826207 c:FullAccounts 2023-04-01 2024-03-31 08826207 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08826207 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08826207









SATAVIA LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SATAVIA LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
SATAVIA LTD
REGISTERED NUMBER: 08826207

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
6,128
37,565

  
6,128
37,565

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
307,533
183,969

Cash at bank and in hand
  
11,953
66,807

  
319,486
250,776

Creditors: amounts falling due within one year
 6 
(165,521)
(145,271)

NET CURRENT ASSETS
  
 
 
153,965
 
 
105,505

TOTAL ASSETS LESS CURRENT LIABILITIES
  
160,093
143,070

Creditors: amounts falling due after more than one year
  
(1,799,416)
(1,563,915)

  

NET LIABILITIES
  
(1,639,323)
(1,420,845)


CAPITAL AND RESERVES
  

Called up share capital 
 7 
129
129

Share premium account
  
987,339
987,339

Profit and loss account
  
(2,626,791)
(2,408,313)

  
(1,639,323)
(1,420,845)


Page 1

 
SATAVIA LTD
REGISTERED NUMBER: 08826207
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Dr A J Durant
Director

Date: 23 April 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SATAVIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Satavia Ltd is a private Company limited by shares and incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge CB1 2LA.  

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

GOING CONCERN

Although the Company continues to make a loss, the director has a reasonable expectation that the Company will receive support from new and existing shareholders, and therefore has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on a going concern basis.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of consultancy services supplied during the year, exclusive of Value Added Tax and trade discounts.  Turnover is recognised as the fair value of the consideration received or receivable and is recognised in the period in which the services are supplied.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
SATAVIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

DEBTORS

Short term debtors are measured at transaction price, less any impairment.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences.  Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
SATAVIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.10

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

GRANT INCOME

Grant income is recognised in the Profit and Loss Account as the related expenditure is incurred.

 
2.13

RESEARCH AND DEVELOPMENT

Research and development expenditure is recognised in the Profit and Loss Account in the period in which it is incurred.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 12 (2023 - 18).

Page 5

 
SATAVIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


TANGIBLE FIXED ASSETS





Office and computer equipment

£



COST OR VALUATION


At 1 April 2023
71,349


Additions
982


Disposals
(42,298)



At 31 March 2024

30,033



DEPRECIATION


At 1 April 2023
33,784


Charge for the year on owned assets
11,819


Disposals
(20,315)


On revalued assets
(1,383)



At 31 March 2024

23,905



NET BOOK VALUE



At 31 March 2024
6,128



At 31 March 2023
37,565


5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
69,353
-

Other debtors
177,465
155,816

Prepayments and accrued income
60,715
28,153

307,533
183,969


Page 6

 
SATAVIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
32,203
31,497

Trade creditors
99,073
32,624

Other taxation and social security
24,465
30,613

Other creditors
915
13,656

Accruals and deferred income
8,865
36,881

165,521
145,271


IIncluded in bank loans is a loan of £32,203 (2023 - £31,497) which was drawn down in July 2020. Interest is charged at 2.5% per annum.
Other creditors include contributions of £Nil (2023 - £7,483) payable to the Company's defined contribution pension scheme at the balance sheet date.


7.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,293,600 (2023 - 1,290,000) Ordinary shares of £0.0001 each
129
129


 
Page 7