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Registration number: 11052872

Savannah Harvest Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Savannah Harvest Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Savannah Harvest Ltd

Company Information

Director

Mr Khumbulani Nkala

Company secretary

Mr Khumbulani Nkala

Registered office

Unit 13481 13 Freeland Park
Wareham Road
Poole
BH16 6FA

Accountants

K & N Accounting Ltd
60 Windsor Avenue
London
South West London
SW19 2RR

 

Savannah Harvest Ltd

(Registration number: 11052872)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

55,196

1,244

Current assets

 

Debtors

5

65,480

41,833

Cash at bank and in hand

 

8,843

3,190

 

74,323

45,023

Creditors: Amounts falling due within one year

6

(201,329)

(468,239)

Net current liabilities

 

(127,006)

(423,216)

Net liabilities

 

(71,810)

(421,972)

Capital and reserves

 

Called up share capital

7

547,216

1

Retained earnings

(619,026)

(421,973)

Shareholders' deficit

 

(71,810)

(421,972)

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.

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 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2024
 

.........................................
Mr Khumbulani Nkala
Company secretary and director

 

Savannah Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Unit 13481 13 Freeland Park
Wareham Road
Poole
BH16 6FA
England

These financial statements were authorised for issue by the director on 30 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 consideration received or receivable for the sale of goods and 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.

 

Savannah Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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

Office Equipment

33% Straighline

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.

 

Savannah Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 27 (2022 - 23).

 

Savannah Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 January 2023

5,847

28,541

-

2,700

Additions

-

46,941

-

-

At 31 December 2023

5,847

75,482

-

2,700

Depreciation

At 1 January 2023

1,969

7,135

-

675

Charge for the year

1,547

17,001

-

506

At 31 December 2023

3,516

24,136

-

1,181

Carrying amount

At 31 December 2023

2,331

51,346

-

1,519

At 31 December 2022

6,354

-

(7,135)

2,025

Total
£

Cost or valuation

At 1 January 2023

37,088

Additions

46,941

At 31 December 2023

84,029

Depreciation

At 1 January 2023

9,779

Charge for the year

19,054

At 31 December 2023

28,833

Carrying amount

At 31 December 2023

55,196

At 31 December 2022

1,244

5

Debtors

Current

2023
£

2022
£

Trade debtors

7,975

-

Prepayments

381

-

Other debtors

57,124

41,833

 

65,480

41,833

 

Savannah Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

14,286

468,239

Taxation and social security

 

32,825

-

Other creditors

 

154,218

-

 

201,329

468,239

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 (2022 - £0.01) each

547,219

547,219

100

1

       

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

14,286

468,239