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Registered Number: 07903824
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 May 2023

for

SATEC SERVICE LIMITED

Directors G L Davies
F W Wells
A R Davies
T J Davies
Registered Number 07903824
Registered Office Unit 5 Wokingham Comm Centre
Molly Millars Lane
Wokingham
Berkshire
RG41 2RF
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
Secretary F W Wells
1
Director's report and financial statements
The directors present  their annual report and the financial statements for the year ended 31 May 2023
Principal activities
The principal activity of the company in the year under review was that of water collection, treatment and supply.
Directors

The directors who have held office during the whole of the year were as follows:
G L Davies
F W Wells
A R Davies
T J Davies
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
F W Wells
Director

Date approved: 21 February 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 50,000    50,000 
Tangible fixed assets 4 61,469    99,408 
111,469    149,408 
Current assets      
Stocks 5 304,900    255,234 
Debtors 6 514,591    357,709 
Cash at bank and in hand 67,856    35,367 
887,347    648,310 
Creditors: amount falling due within one year 7 (408,211)   (290,640)
Net current assets 479,136    357,670 
 
Total assets less current liabilities 590,605    507,078 
Net assets 590,605    507,078 
 

Capital and reserves
     
Called up share capital 10,000    10,000 
Profit and loss account 580,605    497,078 
Shareholder's funds 590,605    507,078 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 21 February 2024 and were signed on its behalf by:


-------------------------------
F W Wells
Director
3
General Information
Satec Service Limited is a private company, limited by shares, registered in England and Wales, registration number 07903824, registration address Unit 5 Wokingham Comm Centre, Molly Millars Lane, Wokingham, Berkshire, RG41 2RF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
2.

Average number of employees

Average number of employees during the year was 17 (2022 : 17).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 June 2022 50,000    50,000 
Additions  
Disposals  
At 31 May 2023 50,000    50,000 
Amortisation
At 01 June 2022  
Charge for year  
On disposals  
At 31 May 2023  
Net book values
At 31 May 2023 50,000    50,000 
At 31 May 2022 50,000    50,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 June 2022 33,000    259,144    6,499    298,643 
Additions      
Disposals   (41,685)     (41,685)
At 31 May 2023 33,000    217,459    6,499    256,958 
Depreciation
At 01 June 2022 33,000    160,652    5,583    199,235 
Charge for year   37,439    500    37,939 
On disposals   (41,685)     (41,685)
At 31 May 2023 33,000    156,406    6,083    195,489 
Net book values
Closing balance as at 31 May 2023   61,053    416    61,469 
Opening balance as at 01 June 2022   98,492    916    99,408 


5.

Stocks

2023
£
  2022
£
Work in Progress 135,000    85,000 
Stocks 169,900    170,234 
304,900    255,234 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 485,852    292,983 
Other Debtors 28,739    64,726 
514,591    357,709 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 213,500    32,152 
Bank Loans & Overdrafts 35,833    45,833 
Taxation and Social Security 52,174    40,140 
Other Creditors 106,704    172,515 
408,211    290,640 

4