Saviz Ltd 09399223 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Sales agents for food & wine products Digita Accounts Production Advanced 6.30.9574.0 true true 09399223 2023-02-01 2024-01-31 09399223 2024-01-31 09399223 bus:OrdinaryShareClass1 2024-01-31 09399223 core:RetainedEarningsAccumulatedLosses 2024-01-31 09399223 core:ShareCapital 2024-01-31 09399223 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-01-31 09399223 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-01-31 09399223 core:CurrentFinancialInstruments 2024-01-31 09399223 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 09399223 core:Non-currentFinancialInstruments 2024-01-31 09399223 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 09399223 core:OfficeEquipment 2024-01-31 09399223 bus:SmallEntities 2023-02-01 2024-01-31 09399223 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09399223 bus:FilletedAccounts 2023-02-01 2024-01-31 09399223 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09399223 bus:RegisteredOffice 2023-02-01 2024-01-31 09399223 bus:Director1 2023-02-01 2024-01-31 09399223 bus:Director2 2023-02-01 2024-01-31 09399223 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 09399223 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09399223 core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 09399223 core:ShareCapital 2023-02-01 2024-01-31 09399223 core:OfficeEquipment 2023-02-01 2024-01-31 09399223 core:PlantMachinery 2023-02-01 2024-01-31 09399223 core:UKTax 2023-02-01 2024-01-31 09399223 countries:UnitedKingdom 2023-02-01 2024-01-31 09399223 2023-01-31 09399223 core:RetainedEarningsAccumulatedLosses 2023-01-31 09399223 core:ShareCapital 2023-01-31 09399223 core:OfficeEquipment 2023-01-31 09399223 2022-02-01 2023-01-31 09399223 2023-01-31 09399223 bus:OrdinaryShareClass1 2023-01-31 09399223 core:CurrentFinancialInstruments 2023-01-31 09399223 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 09399223 core:Non-currentFinancialInstruments 2023-01-31 09399223 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 09399223 core:OfficeEquipment 2023-01-31 09399223 core:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 09399223 core:ShareCapital 2022-02-01 2023-01-31 09399223 core:UKTax 2022-02-01 2023-01-31 09399223 2022-01-31 09399223 core:RetainedEarningsAccumulatedLosses 2022-01-31 09399223 core:ShareCapital 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09399223

Saviz Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Saviz Ltd

Company Information

Directors

Ms Sabrina Sasso

Mr Vito Izzo

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

Saviz Ltd

(Registration number: 09399223)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

86

1

Other financial assets

6

37,194

-

 

37,280

1

Current assets

 

Debtors

7

7,510

29,887

Cash at bank and in hand

 

49,463

101,736

 

56,973

131,623

Creditors: Amounts falling due within one year

8

(30,867)

(77,045)

Net current assets

 

26,106

54,578

Total assets less current liabilities

 

63,386

54,579

Creditors: Amounts falling due after more than one year

8

(12,469)

(16,331)

Net assets

 

50,917

38,248

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

50,817

38,148

Shareholders' funds

 

50,917

38,248

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

Directors' 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 directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................
Mr Vito Izzo
Director

 

Saviz Ltd

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Retained earnings
£

Total
£

At 1 February 2023

100

38,148

38,248

Profit for the year

-

46,669

46,669

Dividends

-

(34,000)

(34,000)

At 31 January 2024

100

50,817

50,917

Share capital
£

Retained earnings
£

Total
£

At 1 February 2022

100

12,932

13,032

Profit for the year

-

65,216

65,216

Dividends

-

(40,000)

(40,000)

At 31 January 2023

100

38,148

38,248

 

Saviz Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD
United Kingdom

These financial statements were authorised for issue by the Board on 21 October 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Computer Equipment

33% of cost

 

Saviz Ltd

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

12,553

16,405

 

Saviz Ltd

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

5

Tangible assets

Computer equipment
£

Total
£

Cost or valuation

At 1 February 2023

500

500

Additions

128

128

At 31 January 2024

628

628

Depreciation

At 1 February 2023

499

499

Charge for the year

43

43

At 31 January 2024

542

542

Carrying amount

At 31 January 2024

86

86

At 31 January 2023

1

1

6

Other financial assets (current and non-current)

Investments held with financial institutions
£

Unlisted investments
£

Total
£

Non-current financial assets

Cost or valuation

Fair value adjustments

(3,224)

-

(3,224)

Additions

10,665

29,753

40,418

At 31 January 2024

7,441

29,753

37,194

Impairment

Carrying amount

At 31 January 2024

7,441

29,753

37,194

7

Debtors

Current

2024
£

2023
£

Trade debtors

7,510

29,887

 

7,510

29,887

 

Saviz Ltd

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,900

3,020

Directors current accounts

12,179

33,150

Corporation tax

12,553

16,405

Other taxation

4,235

24,470

30,867

77,045

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

12,469

16,331

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,469

16,331

11

Dividends

2024

2023

£

£

Final dividend of £340.00 (2023 - £400.00) per ordinary share

34,000

40,000

 

 

13 Ultimate controlling party

The ultimate controlling party is Vito Izzio who owns 60% of the share capital of the company.