Company Registration No. 13708348 (England and Wales)
Satius Ltd
Unaudited accounts
for the year ended 31 October 2023
Satius Ltd
Unaudited accounts
Contents
Satius Ltd
Company Information
for the year ended 31 October 2023
Directors
Peter Fishenden
Elena Zaria
Company Number
13708348 (England and Wales)
Registered Office
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Accountants
Micro Filer Ltd
International House
64 Nile Street
London
N1 7SR
Satius Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
18,811
25,706
Inventories
400,650
239,383
Cash at bank and in hand
5,461
15,526
Creditors: amounts falling due within one year
(493,180)
(302,766)
Net current liabilities
(82,446)
(44,607)
Net liabilities
(63,635)
(18,901)
Called up share capital
100
100
Profit and loss account
(63,735)
(19,001)
Shareholders' funds
(63,635)
(18,901)
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by
Peter Fishenden
Director
Company Registration No. 13708348
Satius Ltd
Notes to the Accounts
for the year ended 31 October 2023
Satius Ltd is a private company, limited by shares, registered in England and Wales, registration number 13708348. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion. At each reporting date, stocks are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the Income Statement.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Satius Ltd
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
-
25,706
-
25,706
Additions
1,500
500
509
2,509
At 31 October 2023
1,500
26,206
509
28,215
Charge for the year
500
8,735
169
9,404
At 31 October 2023
500
8,735
169
9,404
At 31 October 2023
1,000
17,471
340
18,811
At 31 October 2022
-
25,706
-
25,706
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Loans from directors
476,911
289,807
Creditors due within one year include amounts owed to the director of £476,911 (2022 £289,807).
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).