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SAGITTER1 LIMITED

Registered Number
06893214
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

SAGITTER1 LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

POTORTI, Stefano

Company Secretary

POTORTI, Stefano

Registered Address

Flat 1 Garnet Court
27 The Drive
Wembley
HA9 9EF

Registered Number

06893214 (England and Wales)
SAGITTER1 LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors446,627110,659
Current asset investments257,424349,155
Cash at bank and on hand13,05252,132
317,103511,946
Creditors amounts falling due within one year5(12,695)(214,441)
Net current assets (liabilities)304,408297,505
Total assets less current liabilities304,408297,505
Net assets304,408297,505
Capital and reserves
Called up share capital100100
Profit and loss account304,308297,405
Shareholders' funds304,408297,505
The financial statements were approved and authorised for issue by the Director on 23 January 2025, and are signed on its behalf by:
POTORTI, Stefano
Director
Registered Company No. 06893214
SAGITTER1 LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The directors have identified material uncertainties related to renewal of service contract with a major customer that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 May 236,2345,95712,191
Disposals(6,234)(5,957)(12,191)
Depreciation and impairment
At 01 May 236,2345,95712,191
On disposals(6,234)(5,957)(12,191)
Net book value
At 30 April 24---
At 30 April 23---
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables18,399316
Other debtors2,135105,662
Prepayments and accrued income26,0934,681
Total46,627110,659
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables151168,402
Bank borrowings and overdrafts7,20236,078
Taxation and social security5,3429,228
Other creditors-733
Total12,695214,441