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REGISTERED NUMBER: 09457256 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SASSO AUTOMOTIVE LIMITED

SASSO AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09457256)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SASSO AUTOMOTIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: S N Ciuffetelli
M Ciuffetelli





REGISTERED OFFICE: Bentley Hall
Bentley
Beverley
East Yorkshire
HU17 8PP





REGISTERED NUMBER: 09457256 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

SASSO AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09457256)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 889,962 890,439

CURRENT ASSETS
Stocks 557,685 216,110
Debtors 5 199,785 180,003
Cash at bank 6,705 224,586
764,175 620,699
CREDITORS
Amounts falling due within one year 6 1,364,363 1,302,807
NET CURRENT LIABILITIES (600,188 ) (682,108 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,774

208,331

CREDITORS
Amounts falling due after more than one
year

7

(14,167

)

(24,167

)

PROVISIONS FOR LIABILITIES (70,357 ) -
NET ASSETS 205,250 184,164

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 8 233,926 288,910
Retained earnings (28,677 ) (104,747 )
205,250 184,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SASSO AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09457256)

BALANCE SHEET - continued
29 FEBRUARY 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





M Ciuffetelli - Director


SASSO AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09457256)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Sasso Automotive Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover has been derived from sales of motor vehicles and commission from motor vehicle brokerage.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SASSO AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09457256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 804,950 119,776 924,726
Additions 9,620 3,361 12,981
At 29 February 2024 814,570 123,137 937,707
DEPRECIATION
At 1 March 2023 - 34,287 34,287
Charge for year 16,921 13,458 30,379
Revaluation adjustments (16,921 ) - (16,921 )
At 29 February 2024 - 47,745 47,745
NET BOOK VALUE
At 29 February 2024 814,570 75,392 889,962
At 28 February 2023 804,950 85,489 890,439

Cost or valuation at 29 February 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 288,910 - 288,910
Cost 525,660 123,137 648,797
814,570 123,137 937,707

If land and buildings had not been revalued they would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 525,660 461,090

Land and buildings were valued on a fair value basis on 29 February 2024 by the Director, M Ciuffetelli .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 5,964 17,493
Amounts owed by associates 193,604 58,135
Other debtors 217 104,375
199,785 180,003

SASSO AUTOMOTIVE LIMITED (REGISTERED NUMBER: 09457256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 106,830 225,540
Amounts owed to associates 325,802 383,655
Taxation and social security 31,924 3,515
Other creditors 889,807 680,097
1,364,363 1,302,807

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 14,167 24,167

8. RESERVES
Revaluation
reserve
£   
At 1 March 2023 288,910
Buildings revaluation (54,984 )

At 29 February 2024 233,926

9. RELATED PARTY DISCLOSURES

At the year end the company owed the director, M Ciuffetelli £888,309 (2023 - £677,097), this loan is not interest bearing and there are no formal terms of repayment.

At the year end the company owed two other companies under common control a total of £132,198 (2023 - £325,521). These loans are not interest bearing and there are no formal terms of repayment.