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COMPANY REGISTRATION NUMBER: 04472458
Saverymuttu Limited
Unaudited Financial Statements
30 April 2024
Saverymuttu Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
Saverymuttu Limited
Directors' Report
Year ended 30 April 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 April 2024 .
Directors
The directors who served the company during the year were as follows:
Dr S Saverymuttu
Miss C Habberfield
Mrs R Saverymuttu
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 October 2024 and signed on behalf of the board by:
Dr S Saverymuttu
Mrs R Saverymuttu
Director
Director
Registered office:
c/o The Accounting Centre Ltd
First Floor
736 High Road
North Finchley
London
N12 9QD
Saverymuttu Limited
Statement of Income and Retained Earnings
Year ended 30 April 2024
2024
2023
Note
£
£
Turnover
35,146
29,365
--------
--------
Gross profit
35,146
29,365
Administrative expenses
20,917
27,149
--------
--------
Operating profit
14,229
2,216
Other interest receivable and similar income
34,013
( 2,230)
--------
--------
Profit/(loss) before taxation
6
48,242
( 14)
Tax on profit/(loss)
7,963
3,926
--------
-------
Profit/(loss) for the financial year and total comprehensive income
40,279
( 3,940)
--------
-------
Dividends paid and payable
7
( 50,000)
( 30,000)
Retained earnings at the start of the year
1,552,203
1,586,143
------------
------------
Retained earnings at the end of the year
1,542,482
1,552,203
------------
------------
All the activities of the company are from continuing operations.
Saverymuttu Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Current assets
Debtors: due within one year
8
4,932
3,599
Debtors: due after more than one year
8
345,000
345,000
Investments
9
1,182,603
964,091
Cash at bank and in hand
20,065
246,058
------------
------------
1,552,600
1,558,748
Creditors: amounts falling due within one year
10
10,018
6,445
------------
------------
Net current assets
1,542,582
1,552,303
------------
------------
Total assets less current liabilities
1,542,582
1,552,303
------------
------------
Net assets
1,542,582
1,552,303
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
11
1,542,482
1,552,203
------------
------------
Shareholders funds
1,542,582
1,552,303
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 October 2024 , and are signed on behalf of the board by:
Dr S Saverymuttu
Mrs R Saverymuttu
Director
Director
Company registration number: 04472458
Saverymuttu Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o The Accounting Centre Ltd, First Floor, 736 High Road, North Finchley, London, N12 9QD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:
2024
2023
£
£
Remuneration
6,500
5,500
-------
-------
6. Profit before taxation
Profit before taxation is stated after charging/crediting:
2024
2023
£
£
Fair value adjustments to financial assets measured at fair value through profit or loss
( 5,510)
21,183
-------
--------
This is unrealised gain on investments.
7. Dividends
2024
2023
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
50,000
30,000
--------
--------
8. Debtors
Debtors falling due within one year are as follows:
2024
2023
£
£
Other debtors
4,932
3,599
-------
-------
Debtors falling due after one year are as follows:
2024
2023
£
£
Other debtors
345,000
345,000
---------
---------
Other debtors includes a Long term mortgage of £345,000.
9. Investments
2024
2023
£
£
Other investments
475,345
256,833
Property Investments
707,258
707,258
------------
---------
1,182,603
964,091
------------
---------
10. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,452
1,744
Corporation tax
7,963
3,926
Director loan accounts
603
775
--------
-------
10,018
6,445
--------
-------
11. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
12. Directors' advances, credits and guarantees
The company owed to the directors £603 (2023: £ 775 ) at the reporting date.
13. Related party transactions
The loan of £345,000 was made to Miss Saverymuttu at a market orientated interest rate.
14. Controlling party
The company was under the control of its directors throughout the reporting year.