Sgaro Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07238433 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

Sgaro Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Giorgio Sgariglia

Mr Gianni Paolo Sgariglia

REGISTERED OFFICE:

1st Floor

314 Regents Park Road

Finchley

London

N3 2LT

REGISTERED NUMBER:

07238433 (England and Wales)

ACCOUNTANTS:

Wolfson Associates Limited

1st Floor

314 Regents Park Road

Finchley

London

N3 2LT

CURRENT ASSETS

Debtors

4

546,267

200,633

Cash at bank

5,644

670,746

551,911

871,379

CREDITORS

Amounts falling due within one year

5

1

197,703

NET CURRENT ASSETS

551,910

673,676

TOTAL ASSETS LESS CURRENT LIABILITIES

551,910

673,676

ACCRUALS AND DEFERRED INCOME

5,000

5,702

NET ASSETS

546,910

667,974

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

546,610

667,674

SHAREHOLDERS' FUNDS

546,910

667,974

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

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

The directors acknowledge their 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 Board of Directors on 18 January 2020 and were signed on its behalf by:

Mr Giorgio Sgariglia - Director

1.	STATUTORY INFORMATION

Sgaro 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

As the company sold its operation, no depreciation provided for the year.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 15 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Other debtors

398,276

200,633

Directors' current accounts

131,000

-

Tax

16,960

-

VAT

31

-

546,267

200,633

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade creditors

1

-

Tax

-

183,945

Social security and other taxes

-

(527

)

VAT

-

14,282

Other creditors

-

3

1

197,703

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 1 November 2018 the directors' loan account balance had a credit balance of £Nil. During the year,

the director withdrew £131,000 from the company. As a result at the end of the year the directors owed

£131,000 to the company.

7.	RELATED PARTY DISCLOSURES

The company was owed £396,587 [2018 : £200,633] to a connected company, Oaktone Limited, a

company registered in England and Wales.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Mr G Sgariglia, by virtue of holding 60% of the issued

share capital.