Registered number
07294930
SAS Mailing Ltd
Filleted Accounts
31 December 2023
SAS Mailing Ltd
Registered number: 07294930
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 15,292 30,636
Tangible assets 4 92,183 101,085
107,475 131,721
Current assets
Stocks 5,527 4,482
Debtors 5 355,155 363,140
Cash at bank and in hand 142,463 143,304
503,145 510,926
Creditors: amounts falling due within one year 6 (75,486) (54,827)
Net current assets 427,659 456,099
Total assets less current liabilities 535,134 587,820
Creditors: amounts falling due after more than one year 7 (66,737) (70,219)
Net assets 468,397 517,601
Capital and reserves
Called up share capital 100 100
Profit and loss account 468,297 517,501
Shareholders' funds 468,397 517,601
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Shahram Bashiri
Director
Approved by the board on 10 August 2024
SAS Mailing Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Goodwill Over 10 years
Plant and machinery 15% on written down value
Motor Vehicle 25% on written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 153,441
At 31 December 2023 153,441
Amortisation
At 1 January 2023 122,805
Provided during the year 15,344
At 31 December 2023 138,149
Net book value
At 31 December 2023 15,292
At 31 December 2022 30,636
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 118,957 62,253 181,210
At 31 December 2023 118,957 62,253 181,210
Depreciation
At 1 January 2023 46,669 33,456 80,125
Charge for the year 2,922 5,980 8,902
At 31 December 2023 49,591 39,436 89,027
Net book value
At 31 December 2023 69,366 22,817 92,183
At 31 December 2022 72,288 28,797 101,085
5 Debtors 2023 2022
£ £
Other debtors 355,155 363,140
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 8,839 52
Obligations under finance lease and hire purchase contracts 10,938 10,938
Trade creditors 35,465 36,881
Corporation tax 13,045 -
Other taxes and social security costs (13,144) (8,163)
Other creditors 20,343 15,119
75,486 54,827
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 53,257 53,257
Other creditors 13,480 16,962
66,737 70,219
8 Other information
SAS Mailing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Duncan Street
London
N1 8BW
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