Saffron Trading Limited - Accounts to registrar (filleted) - small 18.2

SAFFRON TRADING LIMITED

Financial Statements

for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

M Manguette

Secretary:

Lee Associates (Secretaries) Limited

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

02912158 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

3,557

4,448

Current assets

Stocks

15,755

27,014

Debtors

5

3,144

7,932

18,899

34,946

Creditors

Amounts falling due within one year

6

31,620

42,714

Net current liabilities

(12,721

)

(7,768

)

Total assets less current liabilities

(9,164

)

(3,320

)

Creditors

Amounts falling due after more than one year

7

18,700

18,700

Net liabilities

(27,864

)

(22,020

)

Capital and reserves

Called up share capital

8

100

100

Retained earnings

9

(27,964

)

(22,120

)

Shareholders' funds

(27,864

)

(22,020

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 11 October 2019 and were signed by:

M Manguette - Director

1.	Statutory information

Saffron Trading Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for sale of jewellery net of VAT.

Sales are recognised when legal title of the goods are transferred to the customers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Fixtures and fittings -

20% on reducing balance

Office equipment -

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Going concern

The company meets its day to day working capital requirements through the support of the director of the

company. On this basis, the director considers it appropriate to prepare the financial statements on the going

concern basis.

3.	Employees and directors

The average number of employees during the year was 1 (2018 - 1 ) .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 April 2018

and 31 March 2019

41,003

4,199

45,202

Depreciation

At 1 April 2018

36,564

4,190

40,754

Charge for year

888

3

891

At 31 March 2019

37,452

4,193

41,645

Net book value

At 31 March 2019

3,551

6

3,557

At 31 March 2018

4,439

9

4,448

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Other debtors

3,144

7,932

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank overdraft

5,292

7,419

Trade creditors

3,347

7,659

Taxation and social security

6,287

2,248

Other creditors

16,694

25,388

31,620

42,714

7.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Other creditors

18,700

18,700

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

9.

Reserves

Retained

earnings

£

At 1 April 2018

(22,120

)

Deficit for the year

(5,844

)

At 31 March 2019

(27,964

)

10.	Related party disclosures

At the balance sheet date included within other creditors amounts falling due within one year owed is £13,120

(2018 - £21,314) owed to the director M Manguette and £18,700 (2018 - £18,700) included in other creditors

falling due after more than one year.

11.

Control

The company is controlled by M Manguette by virtue of her directorship and majority shareholding.