Company registration number SC335076 (Scotland)
SAVENDIE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SAVENDIE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
SAVENDIE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
204
484
Investments
4
117,960
118,778
118,164
119,262
Current assets
Debtors
21,259
2,376
Cash at bank and in hand
90,007
108,751
111,266
111,127
Creditors: amounts falling due within one year
(27,516)
(32,927)
Net current assets
83,750
78,200
Total assets less current liabilities
201,914
197,462
Provisions for liabilities
(4,508)
(4,712)
Net assets
197,406
192,750
Capital and reserves
Called up share capital
2
2
Fair Value Reserve
14,727
15,545
Distributable profit and loss reserves
182,677
177,203
Total equity
197,406
192,750

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SAVENDIE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 19 August 2024
Mrs S Duffield
Director
Company Registration No. SC335076
SAVENDIE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Fair Value Reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
2
12,946
161,065
174,013
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
2,599
52,138
54,737
Dividends
-
-
(36,000)
(36,000)
Balance at 31 March 2023
2
15,545
177,203
192,750
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
(818)
41,474
40,656
Dividends
-
-
(36,000)
(36,000)
Balance at 31 March 2024
2
14,727
182,677
197,406
SAVENDIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Savendie Limited is a private company limited by shares incorporated in Scotland. The registered office is 197 Queen Victoria Drive, Glasgow, United Kingdom, G14 9BP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office Equipment
33%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SAVENDIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

1.7

Listed investments    

Listed investments are accounted for at market value annually.

 

The aggregate surplus or deficit arising on any change in market value is reported through the income statement and subsequently transferred to the fair value reserve except where a deficit is deemed to represent a permanent diminution in value, in which case it remains as a deduction within the distributable profit and loss reserves,

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Office Equipment
£
Cost
At 1 April 2023 and 31 March 2024
840
Depreciation and impairment
At 1 April 2023
356
Depreciation charged in the year
280
At 31 March 2024
636
Carrying amount
At 31 March 2024
204
At 31 March 2023
484
SAVENDIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
117,960
118,778
Fixed asset investments revalued

Valuation of the listed investments as at 31 March 2024 is represented by the above figure.

Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
118,778
Valuation changes
(818)
At 31 March 2024
117,960
Carrying amount
At 31 March 2024
117,960
At 31 March 2023
118,778
5
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Amounts owed to directors
13,741
13,275

The loans are unsecured, interest free and have no fixed terms of repayment.

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