0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,758,924 907,295 1,012,027 262,378 1,916,570 1,916,570 1,758,924 xbrli:pure xbrli:shares iso4217:GBP 13522685 2023-04-01 2024-03-31 13522685 2024-03-31 13522685 2023-03-31 13522685 2022-04-01 2023-03-31 13522685 2023-03-31 13522685 2022-03-31 13522685 bus:Director2 2023-04-01 2024-03-31 13522685 core:WithinOneYear 2024-03-31 13522685 core:WithinOneYear 2023-03-31 13522685 core:ShareCapital 2024-03-31 13522685 core:ShareCapital 2023-03-31 13522685 core:RetainedEarningsAccumulatedLosses 2024-03-31 13522685 core:RetainedEarningsAccumulatedLosses 2023-03-31 13522685 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 13522685 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 13522685 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-03-31 13522685 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 13522685 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 13522685 core:Non-currentFinancialInstruments 2024-03-31 13522685 core:Non-currentFinancialInstruments 2023-03-31 13522685 bus:Director1 2023-04-01 2024-03-31 13522685 bus:SmallEntities 2023-04-01 2024-03-31 13522685 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13522685 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13522685 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13522685 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 13522685
SAGE INVESTING LTD
Filleted Unaudited Financial Statements
31 March 2024
SAGE INVESTING LTD
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
1,916,570
1,758,924
Current assets
Cash at bank and in hand
5,453
12,741
Creditors: amounts falling due within one year
5
2,012,201
2,006,151
------------
------------
Net current liabilities
2,006,748
1,993,410
------------
------------
Total assets less current liabilities
( 90,178)
( 234,486)
--------
---------
Net liabilities
( 90,178)
( 234,486)
--------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 90,278)
( 234,586)
--------
---------
Shareholders deficit
( 90,178)
( 234,486)
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 December 2024 , and are signed on behalf of the board by:
Mr S Denton
Director
Company registration number: 13522685
SAGE INVESTING LTD
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents income earned on investments held. Dividends are recognised in the period in which they are received. Interest is recognised on an accruals basis.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Other investments other than loans
£
Cost
At 1 April 2023
1,758,924
Additions
907,295
Disposals
( 1,012,027)
Revaluations
262,378
------------
At 31 March 2024
1,916,570
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
1,916,570
------------
At 31 March 2023
1,758,924
------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,200,000
1,200,000
Other creditors
812,201
806,151
------------
------------
2,012,201
2,006,151
------------
------------
6. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
1,916,570
1,758,925
------------
------------
7. Directors' advances, credits and guarantees
At the year end, the company owed the director £799,900 (2023: £799,900).