Included within Debtors are the following loans to directors:

The average number of persons, including directors, employed by the company during the year was as follows:

It was identified that certain costs had been incorrectly capitalised as intangible assets in prior years. The error has been corrected retrospectively in accordance with FRS 105 by restating the comparative amounts for the prior period presented, as it was practicable to do so.

The effect of these restatement on the prior year is summarised below:

• Intangible assets. Carrying amount at the prior period end decreased by £23,342. This adjustment reflects the correction of amounts that were previously capitalised but should have been recognised as expense and resulted in a reduction in profit before tax of £23,342.

• Taxation. Following recalculation of the prior-year tax position, the company is due a repayment of corporation tax of £6,186; accordingly, prior tax payables have been reduced and a current tax receivable recognised, increasing profit after tax by £6,186.

The combined effect of the above adjustments is a decrease in profit after tax for the prior year of £17,156.

In addition to the above restatements, the following reclassifications of prior-period items have been made to better reflect their nature:

• Shares in a subsidiary of £50 previously recognised within current assets have been reclassified as non-current assets (Investment in subsidiaries).

• Bank charges and commissions of £381 previously presented within Interest payable and similar expenses have been reclassified as Administrative expenses.

These restatements are presentational only and do not affect the recognition or measurement of any items, and have no impact on the profit or net assets reported for the prior period.

Sarah Kay Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Wroxton Court, Wroxton, Banbury, OX15 6QT.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime', and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true