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Registered Number: 12755274
England and Wales

 

 

 

SAPPHIRE LEICESTER LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 20,000    20,000 
Tangible fixed assets 4 14,973    18,716 
34,973    38,716 
Current assets      
Stocks 25,250    9,500 
Debtors 17,112    12,470 
Cash at bank and in hand 7,530    11,737 
49,892    33,707 
Creditors: amount falling due within one year (63,781)   (21,818)
Net current assets (13,889)   11,889 
 
Total assets less current liabilities 21,084    50,605 
Creditors: amount falling due after more than one year (114,962)   (110,237)
Provisions for liabilities (539)  
Net assets (94,417)   (59,632)
 

Capital and reserves
     
Called up share capital 5 2    2 
Profit and loss account (94,419)   (59,634)
Shareholders' funds (94,417)   (59,632)
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 19 September 2024 and were signed by:


-------------------------------
Vheshman Guna SEELAN
Director
1
General Information
SAPPHIRE LEICESTER LTD is a private company, limited by shares, registered in England and Wales, registration number 12755274, registration address 19 Infirmary Square, Leicester, LE1 5WR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 5).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 20,000    20,000 
Additions  
Disposals  
At 31 December 2023 20,000    20,000 
Net book values
At 31 December 2023 20,000    20,000 
At 31 December 2022 20,000    20,000 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 January 2023 23,396    23,396 
Additions  
Disposals  
At 31 December 2023 23,396    23,396 
Depreciation
At 01 January 2023 4,680    4,680 
Charge for year 3,743    3,743 
On disposals  
At 31 December 2023 8,423    8,423 
Net book values
Closing balance as at 31 December 2023 14,973    14,973 
Opening balance as at 01 January 2023 18,716    18,716 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Class A shares of £1.00 each  
 

2