SAVE THE KING LTD

Company limited by guarantee

Company Registration Number:
11597140 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

SAVE THE KING LTD

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

SAVE THE KING LTD

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Mr M Magbagbeola
C D H Clarke
J Olufawo
T Magbagbeola
M I Magbagbeola


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 January 2025

And signed on behalf of the board by:
Name: Mr M Magbagbeola
Status: Director

SAVE THE KING LTD

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 19,349 14,067
Cost of sales: ( 8,387 ) ( 8,217 )
Gross profit(or loss): 10,962 5,850
Operating profit(or loss): 10,962 5,850
Profit(or loss) before tax: 10,962 5,850
Profit(or loss) for the financial year: 10,962 5,850

SAVE THE KING LTD

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 544 734
Total fixed assets: 544 734
Current assets
Debtors: 4 798 556
Cash at bank and in hand: 47,951 36,802
Total current assets: 48,749 37,358
Creditors: amounts falling due within one year: 5 ( 1,140 ) ( 901 )
Net current assets (liabilities): 47,609 36,457
Total assets less current liabilities: 48,153 37,191
Total net assets (liabilities): 48,153 37,191
Members' funds
Profit and loss account: 48,153 37,191
Total members' funds: 48,153 37,191

The notes form part of these financial statements

SAVE THE KING LTD

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 30 January 2025
and signed on behalf of the board by:

Name: Mr M Magbagbeola
Status: Director

The notes form part of these financial statements

SAVE THE KING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 25% Reducing Balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

SAVE THE KING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

SAVE THE KING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 1,502 1,502
Additions 407 407
Disposals
Revaluations
Transfers
At 31 March 2024 1,909 1,909
Depreciation
At 1 April 2023 768 768
Charge for year 597 597
On disposals
Other adjustments
At 31 March 2024 1,365 1,365
Net book value
At 31 March 2024 544 544
At 31 March 2023 734 734

SAVE THE KING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Other debtors 798 556
Total 798 556

SAVE THE KING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 180 181
Accruals and deferred income 960 720
Total 1,140 901