Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-301trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-10-01No description of principal activity1falsefalse 10947170 2023-10-01 2024-09-30 10947170 2022-10-01 2023-09-30 10947170 2024-09-30 10947170 2023-09-30 10947170 c:Director1 2023-10-01 2024-09-30 10947170 d:CurrentFinancialInstruments 2024-09-30 10947170 d:CurrentFinancialInstruments 2023-09-30 10947170 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 10947170 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 10947170 d:ShareCapital 2024-09-30 10947170 d:ShareCapital 2023-09-30 10947170 d:RevaluationReserve 2024-09-30 10947170 d:RevaluationReserve 2023-09-30 10947170 d:OtherMiscellaneousReserve 2024-09-30 10947170 d:OtherMiscellaneousReserve 2023-09-30 10947170 d:RetainedEarningsAccumulatedLosses 2024-09-30 10947170 d:RetainedEarningsAccumulatedLosses 2023-09-30 10947170 c:OrdinaryShareClass1 2023-10-01 2024-09-30 10947170 c:OrdinaryShareClass1 2024-09-30 10947170 c:OrdinaryShareClass1 2023-09-30 10947170 c:FRS102 2023-10-01 2024-09-30 10947170 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 10947170 c:FullAccounts 2023-10-01 2024-09-30 10947170 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10947170 6 2023-10-01 2024-09-30 10947170 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10947170










SAVITAR LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
SAVITAR LIMITED
REGISTERED NUMBER: 10947170

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
21,784,355
21,784,355

  
21,784,355
21,784,355

Current assets
  

Debtors: amounts falling due within one year
 5 
2,000,000
-

Cash at bank and in hand
 6 
62,912
77,369

  
2,062,912
77,369

Creditors: amounts falling due within one year
 7 
(3,200)
(3,200)

Net current assets
  
 
 
2,059,712
 
 
74,169

Total assets less current liabilities
  
23,844,067
21,858,524

  

Net assets
  
23,844,067
21,858,524


Capital and reserves
  

Called up share capital 
 8 
11,000,000
9,000,000

Revaluation reserve
  
490,390
490,390

Capital contribution
  
12,433,417
12,433,417

Profit and loss account
  
(79,740)
(65,283)

  
23,844,067
21,858,524


Page 1

 
SAVITAR LIMITED
REGISTERED NUMBER: 10947170
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S J Blackmore
Director

Date: 29 April 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SAVITAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Savitar Limited is a private company, limited by shares, incorporated in England and Wales, registration number 10947170. The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.

The financial statements are prepared in £ sterling, the functional currency, rounded to the nearest £1. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Valuation of investments

Investments in classic cars, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
SAVITAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 4

 
SAVITAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees



The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Classic Cars

£



Valuation


At 1 October 2023
21,784,355



At 30 September 2024
21,784,355




If the Classic Cars had been accounted for under the historic cost accounting rules, the cars would have been held at £21,293,965 (2023: £21,293,965).


5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
2,000,000
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
62,912
77,369


Page 5

 
SAVITAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
3,200
3,200



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



11,000,000 (2023 - 9,000,000) 1 shares of £1.00 each
11,000,000
9,000,000


During the year, 2,000,000 Ordinary shares were issued at £1 per share, and were fully paid up after the year end date.


9.


Related party transactions

The company has taken advantage of the exemption available of Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with any wholly owned subsidiaries of Dragonfly Invest S.C.A..


10.


Controlling party

The immediate parent company is Dragonfly Invest S.C.A. which holds 100% of the share capital. Dragonfly Invest S.C.A. is an entity incorporated in Luxembourg.                           The ultimate controlling party is Carayes S.à r.l., an entity incorporated in Luxembourg. Consolidated financial statements for the group are not prepared. 

 
Page 6