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Registered Number: 07903824
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 May 2024

for

SATEC SERVICE LIMITED

Directors G L Davies
F W Wells
A R Davies
T J Davies
Registered Number 07903824
Registered Office Unit 24 Van Alloys Industrial Estate Busgrove Lane
Stoke Row
Henley-on-Thames
Oxfordshire
RG9 5QB
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
Secretary F W Wells
1
Director's report and financial statements
The directors present  their annual report and the financial statements for the year ended 31 May 2024
Principal activities
The principal activity of the company in the year under review was that of water collection, treatment and supply.
Directors

The directors who have held office during the whole of the year were as follows:
G L Davies
F W Wells
A R Davies
T J Davies
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
F W Wells
Director

Date approved: 20 February 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 50,000    50,000 
Tangible fixed assets 4 76,871    61,469 
126,871    111,469 
Current assets      
Stocks 5 312,359    304,900 
Debtors 6 273,415    514,591 
Cash at bank and in hand 131,952    67,856 
717,726    887,347 
Creditors: amount falling due within one year 7 (147,214)   (408,211)
Net current assets 570,512    479,136 
 
Total assets less current liabilities 697,383    590,605 
Net assets 697,383    590,605 
 

Capital and reserves
     
Called up share capital 10,000    10,000 
Profit and loss account 687,383    580,605 
Shareholders' funds 697,383    590,605 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 February 2025 and were signed on its behalf by:


-------------------------------
F W Wells
Director
3
General Information
Satec Service Limited is a private company, limited by shares, registered in England and Wales, registration number 07903824, registration address Unit 24 Van Alloys Industrial Estate Busgrove Lane, Stoke Row, Henley-on-Thames, Oxfordshire, RG9 5QB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
2.

Average number of employees

Average number of employees during the year was 18 (2023 : 17).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 June 2023 50,000    50,000 
Additions  
Disposals  
At 31 May 2024 50,000    50,000 
Net book values
At 31 May 2024 50,000    50,000 
At 31 May 2023 50,000    50,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 June 2023 33,000    217,459    6,499    256,958 
Additions   47,417      47,417 
Disposals   (11,032)     (11,032)
At 31 May 2024 33,000    253,844    6,499    293,343 
Depreciation
At 01 June 2023 33,000    156,406    6,083    195,489 
Charge for year   31,599    416    32,015 
On disposals   (11,032)     (11,032)
At 31 May 2024 33,000    176,973    6,499    216,472 
Net book values
Closing balance as at 31 May 2024   76,871      76,871 
Opening balance as at 01 June 2023   61,053    416    61,469 


5.

Stocks

2024
£
  2023
£
Work in Progress 135,000    135,000 
Stocks 177,359    169,900 
312,359    304,900 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 196,996    485,852 
Other Debtors 76,419    28,739 
273,415    514,591 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 33,826    213,500 
Bank Loans & Overdrafts 25,833    35,833 
Taxation and Social Security 34,417    52,174 
Other Creditors 53,138    106,704 
147,214    408,211 

4