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Registration number: 06537386

Savanta Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

Savanta Limited

Contents

Accountants' Report

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Savanta Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Savanta Limited for the year ended 31 March 2024 as set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Savanta Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Savanta Limited and state those matters that we have agreed to state to the Board of Directors of Savanta Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Savanta Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Savanta Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Savanta Limited. You consider that Savanta Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Savanta Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

image-name


Stewart & Co Accountants LLP
Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

27 June 2024

 

Savanta Limited

(Registration number: 06537386)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

710

1,956

Current assets

 

Debtors

5

16,560

19,998

Cash at bank and in hand

 

715,250

632,741

 

731,810

652,739

Creditors: Amounts falling due within one year

6

(51,056)

(39,155)

Net current assets

 

680,754

613,584

Total assets less current liabilities

 

681,464

615,540

Provisions for liabilities

(135)

(372)

Net assets

 

681,329

615,168

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

681,229

615,068

Shareholders' funds

 

681,329

615,168

For the financial year ending 31 March 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 year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 27 June 2024
 

.........................................
Mr D A Murphy
Director

 

Savanta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Savanta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fittings, fixtures and equipment

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

3

Staff numbers

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

 

Savanta Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

At 1 April 2023

7,632

7,632

At 31 March 2024

7,632

7,632

Depreciation

At 1 April 2023

5,676

5,676

Charge for the year

1,246

1,246

At 31 March 2024

6,922

6,922

Carrying amount

At 31 March 2024

710

710

At 31 March 2023

1,956

1,956

5

Debtors

2024
£

2023
£

Trade debtors

15,272

19,285

Prepayments

1,288

713

16,560

19,998

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

48,152

33,489

Accruals and deferred income

2,823

2,585

Other creditors

81

3,081

51,056

39,155