ACCOUNTS - Final Accounts preparation

Registered number: 09915776

SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2026

SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

REGISTERED NUMBER: 09915776

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	4		839		947
			839		947
Current assets
Debtors: amounts falling due within one year	5	1,547		80,374
Cash at bank and in hand	6	8,338,748		7,553,246
		8,340,295		7,633,620
Creditors: amounts falling due within one year	7	(112,674)		(97,040)
Net current assets			8,227,621		7,536,580
Total assets less current liabilities			8,228,460		7,537,527

Net assets			8,228,460		7,537,527

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SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

REGISTERED NUMBER: 09915776

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Capital and reserves
Market Development Reserves	8		1,000,000		1,430,000
Digital Incentive Scheme Reserves	8		2,800,000		-
Procurement Reserves	8		200,000		200,000
Discontinuance Reserves	8		250,000		250,000
Redistribution Reserves	8		3,000,000		3,620,000
Indemnity Fund	8		250,000		250,000
Projects Reserves	8		100,000		450,000
Accumulated and General Reserves	8		628,460		1,337,527
			8,228,460		7,537,527

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 22 July 2026.

David John Bowles

Director

The notes on pages 4 to 8 form part of these financial statements.

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		SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

		Market Development Reserves	Procurement Reserves	Digital Incentive Scheme Reserves	Redistribution Reserves	Discontinuance Reserves	Indemnity Fund	Projects Reserves	Accumulated and General Reserves	Total equity
		£	£	£	£	£	£	£	£	£
	At 1 April 2024	1,430,000	200,000	-	2,920,000	250,000	250,000	250,000	1,332,190	6,632,190
	Comprehensive income for the year
	Surplus for the year	-	-	-	-	-	-	-	905,337	905,337
	Transfers	-	-	-	700,000	-	-	200,000	(900,000)	-

	At 1 April 2025	1,430,000	200,000	-	3,620,000	250,000	250,000	450,000	1,337,527	7,537,527
	Comprehensive income for the year
	Surplus for the year	-	-	-	-	-	-	-	690,933	690,933
	Transfers	(430,000)	-	2,800,000	(620,000)	-	-	(350,000)	(1,400,000)	-
	At 31 March 2026	1,000,000	200,000	2,800,000	3,000,000	250,000	250,000	100,000	628,460	8,228,460

The notes on pages 4 to 8 form part of these financial statements.

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SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Smaller Authorities' Audit Appointments Limited is a private Company limited by guarantee incorporated in England and Wales with a registered office of Bloomsbury Building, Bloomsbury Way, London, WC1A 2SL.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue recognition

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. 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:

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation.

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SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

-

3 year useful life

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

2.6

Debtors

Short-term debtors are measured at transaction price. Loans receivable are measured initially at fair value, net of transaction costs.

2.7

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.

2.8

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.

3.

Employees

The average monthly number of employees, including the Directors, during the year was as follows:

			2026	2025
			No.	No.

		Employees	7	7

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SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 April 2025	2,843
	Additions	839
	At 31 March 2026	3,682
	Depreciation
	At 1 April 2025	1,896
	Charge for the year on owned assets	947
	At 31 March 2026	2,843
	Net book value
	At 31 March 2026	839

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SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

5.

Debtors

					2026	2025
					£	£


	Trade debtors	(875)	78,071
	Prepayments and accrued income	2,422	2,303
		1,547	80,374

6.	Cash and cash equivalents
					2026	2025
					£	£

	Cash at bank and in hand	8,338,748	7,553,246
		8,338,748	7,553,246

7.	Creditors: Amounts falling due within one year
					2026	2025
					£	£

	Trade creditors	41,210	5,621
	Other taxation and social security	63,491	84,492
	Other creditors	1,223	177
	Accruals and deferred income	6,750	6,750
		112,674	97,040

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SMALLER AUTHORITIES' AUDIT APPOINTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

8.

Reserves

Market Development Reserves

To support contract procurement & award for next 5-year contract.

Procurement Reserves

For costs associated with the next 5-yearly audit contracts procurement process to commence in 2027.

Digital Incentive Scheme Reserves

To fund the agreed tiered digital incentive scheme in Autumn 2027.

Redistribution Reserves

To be shared with or redistributed to Smaller Authorities via projects and other schemes.

Discontinuance Reserves

To cover costs if SAAA is wound up or its Articles are significantly amended.

Indemnity Fund

To cover unrecoverable auditor costs and indemnify audit firms for legal expenses.

Projects Reserves

To support strategic projects when unexpected circumstances arise, e.g. a change in legislation or Proper Practices. Routine and planned project expenditure will be funded by the revenue budget.

Accumulated and General Reserves

For contingencies and to provide financial strength (guideline: 2-12 months of net revenue expenditure)

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2026 was unqualified.

The audit report was signed on 22 July 2026 by Stephen Sampson (Senior Statutory Auditor) on behalf of Milton Avis LLP.

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