Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Guilherme Dos Santos De Oliveira 13/08/2018 Francisco Guilherme Goncalves Saldanha De Oliveira 21/08/2018 Joaquim Pedro Beirao Freire Torres 21/08/2018 24 September 2024 The principal activity of the company is that of preparing and wholesale and retail selling of pastel de nata. 11512854 2023-12-31 11512854 bus:Director1 2023-12-31 11512854 bus:Director2 2023-12-31 11512854 bus:Director3 2023-12-31 11512854 2022-12-31 11512854 core:CurrentFinancialInstruments 2023-12-31 11512854 core:CurrentFinancialInstruments 2022-12-31 11512854 core:Non-currentFinancialInstruments 2023-12-31 11512854 core:Non-currentFinancialInstruments 2022-12-31 11512854 core:ShareCapital 2023-12-31 11512854 core:ShareCapital 2022-12-31 11512854 core:RetainedEarningsAccumulatedLosses 2023-12-31 11512854 core:RetainedEarningsAccumulatedLosses 2022-12-31 11512854 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 11512854 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 11512854 core:LandBuildings 2022-12-31 11512854 core:FurnitureFittings 2022-12-31 11512854 core:OfficeEquipment 2022-12-31 11512854 core:LandBuildings 2023-12-31 11512854 core:FurnitureFittings 2023-12-31 11512854 core:OfficeEquipment 2023-12-31 11512854 bus:OrdinaryShareClass1 2023-12-31 11512854 2023-01-01 2023-12-31 11512854 bus:FilletedAccounts 2023-01-01 2023-12-31 11512854 bus:SmallEntities 2023-01-01 2023-12-31 11512854 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11512854 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11512854 bus:Director1 2023-01-01 2023-12-31 11512854 bus:Director2 2023-01-01 2023-12-31 11512854 bus:Director3 2023-01-01 2023-12-31 11512854 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-01-01 2023-12-31 11512854 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 11512854 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 11512854 core:FurnitureFittings 2023-01-01 2023-12-31 11512854 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 11512854 2022-01-01 2022-12-31 11512854 core:LandBuildings 2023-01-01 2023-12-31 11512854 core:OfficeEquipment 2023-01-01 2023-12-31 11512854 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 11512854 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11512854 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11512854 (England and Wales)

SANTA NATA LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

SANTA NATA LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SANTA NATA LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
SANTA NATA LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 40,888 47,322
Tangible assets 4 309,867 309,925
350,755 357,247
Current assets
Stocks 5 3,000 1,200
Debtors 6 301,016 216,780
Cash at bank and in hand 236,338 82,890
540,354 300,870
Creditors: amounts falling due within one year 7 ( 88,612) ( 71,571)
Net current assets 451,742 229,299
Total assets less current liabilities 802,497 586,546
Creditors: amounts falling due after more than one year 8 ( 1,075,342) ( 1,076,296)
Net liabilities ( 272,845) ( 489,750)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 272,945 ) ( 489,850 )
Total shareholders' deficit ( 272,845) ( 489,750)

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

Directors' responsibilities:

The financial statements of Santa Nata Ltd (registered number: 11512854) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Francisco Guilherme Goncalves Saldanha De Oliveira
Director

24 September 2024

SANTA NATA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SANTA NATA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Santa Nata Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 10 years straight line
Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Fixtures and fittings 20 % reducing balance
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 26 16

3. Intangible assets

Development costs Total
£ £
Cost
At 01 January 2023 64,339 64,339
At 31 December 2023 64,339 64,339
Accumulated amortisation
At 01 January 2023 17,017 17,017
Charge for the financial year 6,434 6,434
At 31 December 2023 23,451 23,451
Net book value
At 31 December 2023 40,888 40,888
At 31 December 2022 47,322 47,322

4. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2023 90,332 796,823 8,785 895,940
Additions 0 187,636 4,979 192,615
At 31 December 2023 90,332 984,459 13,764 1,088,555
Accumulated depreciation
At 01 January 2023 72,911 507,765 5,339 586,015
Charge for the financial year 15,179 174,741 2,753 192,673
At 31 December 2023 88,090 682,506 8,092 778,688
Net book value
At 31 December 2023 2,242 301,953 5,672 309,867
At 31 December 2022 17,421 289,058 3,446 309,925

5. Stocks

2023 2022
£ £
Stocks 3,000 1,200

6. Debtors

2023 2022
£ £
Trade debtors 125,395 25,804
Other debtors 175,621 190,976
301,016 216,780

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 38,229 28,519
Other taxation and social security 14,241 11,486
Other creditors 36,142 31,566
88,612 71,571

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 1,075,342 1,076,296

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Financial commitments

Other financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,580 1,788

11. Related party transactions

Other related party transactions

2023 2022
£ £
Included within other creditors is a balance owed to the directors. This balance is unsecured and interest free, with no fixed repayment terms. 553,756 554,710