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Registration number: 03804540

Sagitta Market Research Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Sagitta Market Research Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Sagitta Market Research Limited

Company Information

Director

TJ Weller

Company secretary

TJ Weller

Registered office

Flat 2 Datchet House
West Parade
Hythe
CT21 6BU

Accountants

Beresfords
Chartered Certified Accountants1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Sagitta Market Research Limited

(Registration number: 03804540)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,545

2,889

Current assets

 

Debtors

5

39,753

19,895

Cash at bank and in hand

 

-

14,810

 

39,753

34,705

Creditors: Amounts falling due within one year

6

(38,936)

(22,745)

Net current assets

 

817

11,960

Total assets less current liabilities

 

4,362

14,849

Creditors: Amounts falling due after more than one year

6

(11,667)

(21,667)

Net liabilities

 

(7,305)

(6,818)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(8,305)

(7,818)

Shareholders' deficit

 

(7,305)

(6,818)

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.

For the financial 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.

These financial statements have been prepared and 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 2 January 2025
 

.........................................
TJ Weller
Company secretary and director

   
     
 

Sagitta Market Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

Sagitta Research Market Limited is a private company, limited by shares, registered in England and Wales. The company’s registered number is 03804540 and registered office address is as follows:

Flat 2 Datchet House
West Parade
Hythe
CT21 6BU

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.

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

Going concern

The financial statements have been prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the company's ability to continue as a going concern.

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

 

Sagitta Market Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for 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.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Government grants

Grants of a revenue nature are recognised in the Profit and Loss Account and Statement of Retained Earnings in the same period as the related expenditure.

Finance income and costs policy

Interest income is recognised in the profit and loss using the effective interest method.

Finance costs are charged to the profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

All borrowing costs are recognised in the profit and loss account in the year in which they are incurred.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. New assets are only capitalised when they exceed £500, otherwise they are included in repairs in the Profit and Loss Account.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Fixtures and fittings

15% reducing balance

 

Sagitta Market Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 21).

 

Sagitta Market Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Office equipment
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 May 2023

2,100

13,264

15,364

Additions

-

1,266

1,266

At 30 April 2024

2,100

14,530

16,630

Depreciation

At 1 May 2023

968

11,507

12,475

Charge for the year

283

327

610

At 30 April 2024

1,251

11,834

13,085

Carrying amount

At 30 April 2024

849

2,696

3,545

At 30 April 2023

1,132

1,757

2,889

5

Debtors

Current

2024
£

2023
£

Trade debtors

36,549

15,797

Prepayments

664

-

Other debtors

2,540

4,098

 

39,753

19,895

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

36,805

15,460

Taxation and social security

 

866

6,060

Accruals and deferred income

 

1,265

1,225

 

38,936

22,745

 

Sagitta Market Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

11,667

21,667

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,667

21,667

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

9,999

Bank overdrafts

11,008

-

Directors current account

15,797

5,461

36,805

15,460