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Registration number: 11895520

Sapphire Dust Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 29 February 2024

 

Sapphire Dust Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Sapphire Dust Limited

Company Information

Director

Dr D Mukherjee

Registered office

5 Parkwood Road
Isleworth
TW7 5HE

 

Sapphire Dust Limited

(Registration number: 11895520)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

43,002

39,710

Tangible assets

5

185

247

 

43,187

39,957

Current assets

 

Debtors

6

-

4,860

Cash at bank and in hand

 

-

314

 

-

5,174

Creditors: Amounts falling due within one year

7

(87,032)

(77,000)

Net current liabilities

 

(87,032)

(71,826)

Total assets less current liabilities

 

(43,845)

(31,869)

Creditors: Amounts falling due after more than one year

7

(145,169)

(148,251)

Net liabilities

 

(189,014)

(180,120)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(189,114)

(180,220)

Shareholders' deficit

 

(189,014)

(180,120)

For the financial period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Sapphire Dust Limited

(Registration number: 11895520)
Balance Sheet as at 29 February 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 March 2024
 

.........................................
Dr D Mukherjee
Director

 

Sapphire Dust Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Parkwood Road
Isleworth
TW7 5HE

These financial statements were authorised for issue by the director on 4 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Sapphire Dust Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

4% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Sapphire Dust Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Sapphire Dust Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Sapphire Dust Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2023

42,493

42,493

Additions internally developed

5,200

5,200

At 29 February 2024

47,693

47,693

Amortisation

At 1 April 2023

2,783

2,783

Amortisation charge

1,908

1,908

At 29 February 2024

4,691

4,691

Carrying amount

At 29 February 2024

43,002

43,002

At 31 March 2023

39,710

39,710

 

Sapphire Dust Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

1,250

1,250

At 29 February 2024

1,250

1,250

Depreciation

At 1 April 2023

1,003

1,003

Charge for the period

62

62

At 29 February 2024

1,065

1,065

Carrying amount

At 29 February 2024

185

185

At 31 March 2023

247

247

6

Debtors

Current

2024
£

2023
£

Other debtors

-

4,860

 

-

4,860

7

Creditors

Creditors: amounts falling due within one year

 

Sapphire Dust Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

32

-

Accruals and deferred income

 

3,000

2,000

Other creditors

 

84,000

75,000

 

87,032

77,000

 

Sapphire Dust Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

145,169

148,251

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

10,000

100

10,000

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

45,169

48,251

Other borrowings

100,000

100,000

145,169

148,251

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

32

-