2022-08-012023-07-312023-07-31false10294926SAVVYTURE LTD2024-04-0870229iso4217:GBPxbrli:pure102949262022-08-01102949262023-07-31102949262022-08-012023-07-31102949262021-08-01102949262022-07-31102949262021-08-012022-07-3110294926bus:SmallEntities2022-08-012023-07-3110294926bus:AuditExempt-NoAccountantsReport2022-08-012023-07-3110294926bus:FullAccounts2022-08-012023-07-3110294926bus:PrivateLimitedCompanyLtd2022-08-012023-07-3110294926core:WithinOneYear2023-07-3110294926core:AfterOneYear2023-07-3110294926core:WithinOneYear2022-07-3110294926core:AfterOneYear2022-07-3110294926core:ShareCapital2023-07-3110294926core:SharePremium2023-07-3110294926core:RevaluationReserve2023-07-3110294926core:OtherReservesSubtotal2023-07-3110294926core:RetainedEarningsAccumulatedLosses2023-07-3110294926core:ShareCapital2022-07-3110294926core:SharePremium2022-07-3110294926core:RevaluationReserve2022-07-3110294926core:OtherReservesSubtotal2022-07-3110294926core:RetainedEarningsAccumulatedLosses2022-07-3110294926core:LandBuildings2023-07-3110294926core:PlantMachinery2023-07-3110294926core:Vehicles2023-07-3110294926core:FurnitureFittings2023-07-3110294926core:OfficeEquipment2023-07-3110294926core:NetGoodwill2023-07-3110294926core:IntangibleAssetsOtherThanGoodwill2023-07-3110294926core:ListedExchangeTraded2023-07-3110294926core:UnlistedNon-exchangeTraded2023-07-3110294926core:LandBuildings2022-07-3110294926core:PlantMachinery2022-07-3110294926core:Vehicles2022-07-3110294926core:FurnitureFittings2022-07-3110294926core:OfficeEquipment2022-07-3110294926core:NetGoodwill2022-07-3110294926core:IntangibleAssetsOtherThanGoodwill2022-07-3110294926core:ListedExchangeTraded2022-07-3110294926core:UnlistedNon-exchangeTraded2022-07-3110294926core:LandBuildings2022-08-012023-07-3110294926core:PlantMachinery2022-08-012023-07-3110294926core:Vehicles2022-08-012023-07-3110294926core:FurnitureFittings2022-08-012023-07-3110294926core:OfficeEquipment2022-08-012023-07-3110294926core:NetGoodwill2022-08-012023-07-3110294926core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3110294926core:ListedExchangeTraded2022-08-012023-07-3110294926core:UnlistedNon-exchangeTraded2022-08-012023-07-3110294926core:MoreThanFiveYears2022-08-012023-07-3110294926core:Non-currentFinancialInstruments2023-07-3110294926core:Non-currentFinancialInstruments2022-07-3110294926dpl:CostSales2022-08-012023-07-3110294926dpl:DistributionCosts2022-08-012023-07-3110294926core:LandBuildings2022-08-012023-07-3110294926core:PlantMachinery2022-08-012023-07-3110294926core:Vehicles2022-08-012023-07-3110294926core:FurnitureFittings2022-08-012023-07-3110294926core:OfficeEquipment2022-08-012023-07-3110294926dpl:AdministrativeExpenses2022-08-012023-07-3110294926core:NetGoodwill2022-08-012023-07-3110294926core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3110294926dpl:GroupUndertakings2022-08-012023-07-3110294926dpl:ParticipatingInterests2022-08-012023-07-3110294926dpl:GroupUndertakingscore:ListedExchangeTraded2022-08-012023-07-3110294926core:ListedExchangeTraded2022-08-012023-07-3110294926dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-08-012023-07-3110294926core:UnlistedNon-exchangeTraded2022-08-012023-07-3110294926dpl:CostSales2021-08-012022-07-3110294926dpl:DistributionCosts2021-08-012022-07-3110294926core:LandBuildings2021-08-012022-07-3110294926core:PlantMachinery2021-08-012022-07-3110294926core:Vehicles2021-08-012022-07-3110294926core:FurnitureFittings2021-08-012022-07-3110294926core:OfficeEquipment2021-08-012022-07-3110294926dpl:AdministrativeExpenses2021-08-012022-07-3110294926core:NetGoodwill2021-08-012022-07-3110294926core:IntangibleAssetsOtherThanGoodwill2021-08-012022-07-3110294926dpl:GroupUndertakings2021-08-012022-07-3110294926dpl:ParticipatingInterests2021-08-012022-07-3110294926dpl:GroupUndertakingscore:ListedExchangeTraded2021-08-012022-07-3110294926core:ListedExchangeTraded2021-08-012022-07-3110294926dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-08-012022-07-3110294926core:UnlistedNon-exchangeTraded2021-08-012022-07-3110294926core:NetGoodwill2023-07-3110294926core:IntangibleAssetsOtherThanGoodwill2023-07-3110294926core:LandBuildings2023-07-3110294926core:PlantMachinery2023-07-3110294926core:Vehicles2023-07-3110294926core:FurnitureFittings2023-07-3110294926core:OfficeEquipment2023-07-3110294926core:AfterOneYear2023-07-3110294926core:WithinOneYear2023-07-3110294926core:ListedExchangeTraded2023-07-3110294926core:UnlistedNon-exchangeTraded2023-07-3110294926core:ShareCapital2023-07-3110294926core:SharePremium2023-07-3110294926core:RevaluationReserve2023-07-3110294926core:OtherReservesSubtotal2023-07-3110294926core:RetainedEarningsAccumulatedLosses2023-07-3110294926core:NetGoodwill2022-07-3110294926core:IntangibleAssetsOtherThanGoodwill2022-07-3110294926core:LandBuildings2022-07-3110294926core:PlantMachinery2022-07-3110294926core:Vehicles2022-07-3110294926core:FurnitureFittings2022-07-3110294926core:OfficeEquipment2022-07-3110294926core:AfterOneYear2022-07-3110294926core:WithinOneYear2022-07-3110294926core:ListedExc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SAVVYTURE LTD

Registered Number
10294926
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

SAVVYTURE LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

OWOLABI, Oluwabunmi Omoyeni
OWOLABI, Tolulope Abiodun

Registered Address

47 Westgate
Wakefield
WF1 1BW

Registered Number

10294926 (England and Wales)
SAVVYTURE LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets629,93235,214
Tangible assets7115,077138,747
145,009173,961
Current assets
Stocks94,1146,834
Debtors1075,10871,035
Cash at bank and on hand1,4086
80,63077,875
Creditors amounts falling due within one year11(368,550)(295,831)
Net current assets (liabilities)(287,920)(217,956)
Total assets less current liabilities(142,911)(43,995)
Creditors amounts falling due after one year12(74,217)(86,678)
Net assets(217,128)(130,673)
Capital and reserves
Called up share capital100100
Profit and loss account(217,228)(130,773)
Shareholders' funds(217,128)(130,673)
The financial statements were approved and authorised for issue by the Board of Directors on 8 April 2024, and are signed on its behalf by:
OWOLABI, Oluwabunmi Omoyeni
Director
OWOLABI, Tolulope Abiodun
Director

Registered Company No. 10294926
SAVVYTURE LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
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).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings25
Plant and machinery15
Fixtures and fittings25
Office Equipment25
Intangible assets policy
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill is amortised for 15 years with reducing balance.
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year1210
6.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 August 2262,88962,889
At 31 July 2362,88962,889
Amortisation and impairment
At 01 August 2227,67527,675
Charge for year5,2825,282
At 31 July 2332,95732,957
Net book value
At 31 July 2329,93229,932
At 31 July 2235,21435,214
7.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 August 2283,066200,7905,3353,747292,938
Additions--880-880
At 31 July 2383,066200,7906,2153,747293,818
Depreciation and impairment
At 01 August 2250,41497,8773,4812,419154,191
Charge for year8,16315,43761833224,550
At 31 July 2358,577113,3144,0992,751178,741
Net book value
At 31 July 2324,48987,4762,116996115,077
At 31 July 2232,652102,9131,8541,328138,747
8.Directors advances, credits and guarantees
Included in other creditors is an amount of £159,965 (2022: £153,590) relates to director's loan account Mr T A Owolabi and Mrs O O Owolabi.
9.Stocks

2023

2022

££
Raw materials and consumables4,1146,834
Total4,1146,834
10.Debtors

2023

2022

££
Other debtors63,06551,851
Prepayments and accrued income12,04319,184
Total75,10871,035
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables78,32227,018
Bank borrowings and overdrafts70,39967,654
Taxation and social security38,09120,246
Other creditors172,184162,848
Accrued liabilities and deferred income9,55418,065
Total368,550295,831
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts74,21786,678
Total74,21786,678
13.Provisions for liabilities