COMPANY REGISTRATION NUMBER:
11726696
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SAT Financial Solutions Ltd |
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Filleted Unaudited Financial Statements |
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SAT Financial Solutions Ltd |
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Period from 1 April 2024 to 5 April 2025
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Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements |
1 |
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Statement of financial position |
2 |
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Notes to the financial statements |
3 |
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SAT Financial Solutions Ltd |
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Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
SAT Financial Solutions Ltd |
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Period from 1 April 2024 to 5 April 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SAT Financial Solutions Ltd for the period ended 5 April 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of SAT Financial Solutions Ltd. Our work has been undertaken solely to prepare for your approval the financial statements of SAT Financial Solutions Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAT Financial Solutions Ltd and its director for our work or for this report.
It is your duty to ensure that SAT Financial Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SAT Financial Solutions Ltd. You consider that SAT Financial Solutions Ltd is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of SAT Financial Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
WALTER HUNTER & CO LIMITED
Chartered accountants
24 Bridge Street
Newport
South Wales
NP20 4SF
15 July 2025
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SAT Financial Solutions Ltd |
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Statement of Financial Position |
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5 April 2025
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5 Apr 25 |
31 Mar 24 |
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Note |
£ |
£ |
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Current assets
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Cash at bank and in hand |
19,860 |
18,665 |
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Creditors: amounts falling due within one year |
5 |
19,859 |
18,011 |
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-------- |
-------- |
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Net current assets |
1 |
654 |
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---- |
---- |
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Total assets less current liabilities |
1 |
654 |
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---- |
---- |
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Net assets |
1 |
654 |
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---- |
---- |
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Capital and reserves
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Called up share capital |
1 |
1 |
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Profit and loss account |
– |
653 |
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---- |
---- |
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Shareholders funds |
1 |
654 |
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---- |
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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 period ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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The director acknowledges his 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
15 July 2025
, and are signed on behalf of the board by:
Company registration number:
11726696
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SAT Financial Solutions Ltd |
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Notes to the Financial Statements |
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Period from 1 April 2024 to 5 April 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 28 College Road, Caerleon, Newport, NP18 3SP.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. 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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
(2024:
1
).
5.
Creditors:
amounts falling due within one year
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5 Apr 25 |
31 Mar 24 |
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£ |
£ |
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Corporation tax |
5,006 |
6,358 |
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Other creditors |
14,853 |
11,653 |
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-------- |
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19,859 |
18,011 |
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-------- |
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6.
Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
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5 Apr 25 |
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Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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Mr S A Thomas |
(
10,477) |
(
10,089) |
7,211 |
(
13,355) |
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-------- |
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------- |
-------- |
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31 Mar 24 |
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Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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Mr S A Thomas |
(
7,031) |
(
11,069) |
7,623 |
(
10,477) |
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