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Registered number: 06642990









SATHC PRODUCTS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 27 OCTOBER 2024

 
SATHC PRODUCTS LIMITED
REGISTERED NUMBER: 06642990

STATEMENT OF FINANCIAL POSITION
AS AT 27 OCTOBER 2024

27 October
29 October
2024
2023
Note
£
£

  

Current assets
  

Stocks
  
651,330
731,289

Creditors: amounts falling due within one year
 4 
(433,259)
(561,989)

Net current assets
  
 
 
218,071
 
 
169,300

  

Net assets
  
218,071
169,300


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
217,971
169,200

  
218,071
169,300


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 income and retained earnings 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 on 9 July 2025.




N J Georgevic
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
SATHC PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 OCTOBER 2024

1.


General information

SATHC Products Limited is a limited liability company, incorporated in the United Kingdom, registered at and trading from Scrivens House, 60 Islington Row Middleway, Edgbaston, Birmingham, B15 1PH.  

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 company's functional and presentational currency is GBP, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company shows net assets at the reporting date of £218,071 (2023: £169,300). Existing funding facilities, forecasts and projections indicate that the company has adequate resources to continue with some level of activity from a minimal to full levels.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Based on the above, the directors consider it appropriate to continue adopting the going concern basis in preparing its financial statements.
In making their assessment of going concern, the directors have considered information for a period of at least twelve months from the date the financial statements were authorised for issue.

Page 2

 
SATHC PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

The company sells spectacles and related products. Revenue on these transactions is recognised in
the period at the point of sale.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties.

  
2.6

Creditors

Short-term creditors are measured at the transaction price. 

  
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Page 3

 
SATHC PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 OCTOBER 2024

2.Accounting policies (continued)

  
2.8

Accounting date

Accounts are drawn up for periods of 52 weeks (and, where necessary, 53 weeks) ending on the last
Sunday in October.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2023 - 2).


4.


Creditors: Amounts falling due within one year

27 October
29 October
2024
2023
£
£

Amounts owed to group undertakings
430,277
560,372

Other taxation and social security
2,982
1,617

433,259
561,989



5.


Related party transactions

The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with group companies on the grounds that the company is a wholly owned subsidiary.
The immediate and ultimate parent company is Seamap Limited, a company under the control of N J and
M A Georgevic, directors of the company. Consolidated financial statements are prepared by Seamap Limited, whose registered office address is Scrivens House, 60 Islington Row Middleway, Edgbaston, Birmingham, England, B15 1PH.


6.


Auditors' information

The auditors' report on the financial statements for the period ended 27 October 2024 was unqualified.

The audit report was signed on 29 July 2025 by Richard Paul (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

 
Page 4