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Company Registration No. 08836327 (England and Wales)
Saigates Limited Unaudited accounts for the year ended 29 February 2024
Saigates Limited Unaudited accounts Contents
Page
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Saigates Limited Company Information for the year ended 29 February 2024
Director
Sagar Sunilkumar Patel
Company Number
08836327 (England and Wales)
Registered Office
98 High Street Wednesfield Wolverhampton WV11 1SZ England
Accountants
Capital Talks LLP Accountants & Tax consultants 310D - EW Sterling House Langston Road Loughton IG10 3TS
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Saigates Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
226 
576 
Current assets
Inventories
213,136 
128,533 
Debtors
13,361 
33,054 
Cash at bank and in hand
4,896 
10,703 
231,393 
172,290 
Creditors: amounts falling due within one year
(145,848)
(122,823)
Net current assets
85,545 
49,467 
Total assets less current liabilities
85,771 
50,043 
Creditors: amounts falling due after more than one year
(38,086)
(20,103)
Net assets
47,685 
29,940 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
47,585 
29,840 
Shareholders' funds
47,685 
29,940 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 September 2024 and were signed on its behalf by
Sagar Sunilkumar Patel Director Company Registration No. 08836327
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Saigates Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Saigates Limited is a private company, limited by shares, registered in England and Wales, registration number 08836327. The registered office is 98 High Street, Wednesfield, Wolverhampton, WV11 1SZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33 on straight line method.
Fixtures & fittings
33.33 on straight line method.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
818 
406 
1,224 
Additions
58 
- 
58 
At 29 February 2024
876 
406 
1,282 
Depreciation
At 1 March 2023
546 
102 
648 
Charge for the year
273 
135 
408 
At 29 February 2024
819 
237 
1,056 
Net book value
At 29 February 2024
57 
169 
226 
At 28 February 2023
272 
304 
576 
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Saigates Limited Notes to the Accounts for the year ended 29 February 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,981 
27,554 
Other debtors
7,380 
5,500 
13,361 
33,054 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
2,607 
816 
Trade creditors
14,949 
5,076 
Taxes and social security
2,815 
- 
Other creditors
3,855 
- 
Loans from directors
120,542 
116,931 
Accruals
1,080 
- 
145,848 
122,823 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
38,086 
20,103 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Loans to directors
At 28 February 2024 the company owed £120,542.49/- to director as a result of loans made to the company. The loans are unsecured and interest free. The Director controls the company as a result of controlling directly 100% of the issued share capital.
10
Average number of employees
During the year the average number of employees was 7 (2023: 5).
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