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Company Registration No. 09410509 (England and Wales)
Setai Ltd Unaudited accounts for the year ended 31 January 2024
Setai Ltd Unaudited accounts Contents
Page
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Setai Ltd Company Information for the year ended 31 January 2024
Director
Ms M D Costa
Company Number
09410509 (England and Wales)
Registered Office
Create Business Hub 5 Rayleigh Road Hutton Brentwood Essex CM13 1AB England
Accountants
Kaushik Khiroya, AFA LMK ACCOUNTING LTD THE GATEHOUSE GATEHOUSE WAY AYLESBURY HP19 8DB
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Setai Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
78,176 
911 
Current assets
Inventories
18,700 
- 
Cash at bank and in hand
474 
432 
19,174 
432 
Creditors: amounts falling due within one year
(87,242)
(21,446)
Net current liabilities
(68,068)
(21,014)
Total assets less current liabilities
10,108 
(20,103)
Creditors: amounts falling due after more than one year
(35,243)
(35,859)
Net liabilities
(25,135)
(55,962)
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
(25,138)
(55,965)
Shareholders' funds
(25,135)
(55,962)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 January 2025 and were signed on its behalf by
Ms M D Costa Director Company Registration No. 09410509
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Setai Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Setai Ltd is a private company, limited by shares, registered in England and Wales, registration number 09410509. The registered office is Create Business Hub, 5 Rayleigh Road, Hutton, Brentwood, Essex, CM13 1AB, England.
2
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Setai Ltd Notes to the Accounts for the year ended 31 January 2024
Going concern
These financial statements have been prepared on the assumption that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continuing support of the director and sharesholders of the company. If the were unable to continue in existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet values of assets to their recoverable amounts, to reclassify fixed assets as current assets and to provide for further liabilities which might arise.
3
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 February 2023
2,158 
Additions
84,317 
At 31 January 2024
86,475 
Depreciation
At 1 February 2023
1,247 
Charge for the year
7,052 
At 31 January 2024
8,299 
Net book value
At 31 January 2024
78,176 
At 31 January 2023
911 
4
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
85,082 
14,794 
Loans from directors
- 
4,132 
Accruals
2,160 
2,520 
87,242 
21,446 
5
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
35,243 
35,859 
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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