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REGISTERED NUMBER: 07390207 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Satellite Agency Ltd

Satellite Agency Ltd (Registered number: 07390207)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Satellite Agency Ltd

Company Information
for the year ended 30 September 2024







DIRECTORS: Ms B Rosenthal
J Gray





REGISTERED OFFICE: 7 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 07390207 (England and Wales)





ACCOUNTANTS: FWD Accounts Limited
7 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR

Satellite Agency Ltd (Registered number: 07390207)

Statement of Financial Position
30 September 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 793 806
Investment property 4 1,070,040 1,070,040
1,070,833 1,070,846

CURRENT ASSETS
Debtors 5 409 -
Cash at bank 372,738 281,629
373,147 281,629
CREDITORS
Amounts falling due within one year 6 272,272 246,541
NET CURRENT ASSETS 100,875 35,088
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,171,708

1,105,934

PROVISIONS FOR LIABILITIES 6,001 6,003
NET ASSETS 1,165,707 1,099,931

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 24,940 24,940
Retained earnings 1,140,667 1,074,891
SHAREHOLDERS' FUNDS 1,165,707 1,099,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Satellite Agency Ltd (Registered number: 07390207)

Statement of Financial Position - continued
30 September 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:




Ms B Rosenthal - Director



J Gray - Director


Satellite Agency Ltd (Registered number: 07390207)

Notes to the Financial Statements
for the year ended 30 September 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Satellite Agency Ltd (Registered number: 07390207)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


3. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 October 2023 11,000 3,013 2,221 16,234
Additions - 149 58 207
At 30 September 2024 11,000 3,162 2,279 16,441
DEPRECIATION
At 1 October 2023 11,000 2,295 2,133 15,428
Charge for year - 174 46 220
At 30 September 2024 11,000 2,469 2,179 15,648
NET BOOK VALUE
At 30 September 2024 - 693 100 793
At 30 September 2023 - 718 88 806

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 1,070,040
NET BOOK VALUE
At 30 September 2024 1,070,040
At 30 September 2023 1,070,040

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2020 30,790

** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
INVESTMENT PROPERTY

'COST' ACCOUNT TOTAL
Cost/valuation b/f 1,070,040
1,070,040

CLIENT SCREEN TOTAL = -


As at 30/09/2023 the directors considered fair value of value of investment property held to be £1,070,040

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
VAT 409 -

Satellite Agency Ltd (Registered number: 07390207)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade creditors 650 650
Tax 39,936 45,662
VAT - 727
Other creditors 1,850 -
Directors' loan accounts 229,836 199,502
272,272 246,541

7. RESERVES
Fair
value
reserve
£   
At 1 October 2023
and 30 September 2024 24,940

8. ULTIMATE CONTROLLING PARTY

Mr J Gray and Ms B Rosenthal are deemed to be joint controlling parties by virtue of their equal shareholding