S.A.A. STAFFORDSHIRE LIMITED - Accounts to registrar (filleted) - small 18.2

S.A.A. STAFFORDSHIRE LIMITED - Accounts to registrar (filleted) - small 18.2

S.A.A. STAFFORDSHIRE LIMITED - Company Information

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REGISTERED NUMBER: 05685307 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

S.A.A. STAFFORDSHIRE LIMITED
S.A.A. STAFFORDSHIRE LIMITED (REGISTERED NUMBER: 05685307)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 4


S.A.A. STAFFORDSHIRE LIMITED (REGISTERED NUMBER: 05685307)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2019

31.12.19 31.12.18
Notes £    £   
FIXED ASSETS
Investment property 3 832,977 832,977

CURRENT ASSETS
Debtors 4 93,617 43,196
Cash at bank 117,373 79,171
210,990 122,367
CREDITORS
Amounts falling due within one year 5 (533,590 ) (474,585 )
NET CURRENT LIABILITIES (322,600 ) (352,218 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
510,377
480,759

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 510,277 480,659
510,377 480,759

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2020
and were signed on its behalf by:





A J Adams - Director


The notes form part of these financial statements

Page 1
S.A.A. STAFFORDSHIRE LIMITED (REGISTERED NUMBER: 05685307)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019


1. STATUTORY INFORMATION

S.A.A. STAFFORDSHIRE LIMITED is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address are as below:

Registered number: 05685307

Registered office: Chez Nous
Clewlows Bank
Stockton Brook
Stoke on Trent
Staffordshire
ST9 9LN

The principal activity of the company continued to be that of an investment property company.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. These estimates and judgements are continually
reviewed and are based on experience and other factors, including expectations of future events that
are believed to be reasonable under the circumstances.

Investment properties

The open market value of the investment properties has been determined by the directors, based on
their experience of the market and the selling price of similar properties.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents
amounts receivable for goods supplied and services rendered, stated net of discounts and of Value
Added Tax.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly
attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value
are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of
investment property, it shall be transferred to tangible assets and treated as such until it is expected
that fair value will be reliably measurable on an on-going basis.

Page 2 continued...
S.A.A. STAFFORDSHIRE LIMITED (REGISTERED NUMBER: 05685307)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the
contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement
constitutes a financing transaction, where it is recognised at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets are either assessed
individually or grouped on the basis of similar credit risk characteristics.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of
Income and Retained Earnings, except to the extent that it relates to items recognised in other
comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been
enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods
different from those in which they are recognised in financial statements. Deferred tax is measured
using tax rates and laws that have been enacted or substantively enacted by the year end and that are
expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. INVESTMENT PROPERTY
Total
£   
COST
At 1 January 2019
and 31 December 2019 832,977
NET BOOK VALUE
At 31 December 2019 832,977
At 31 December 2018 832,977

Page 3 continued...
S.A.A. STAFFORDSHIRE LIMITED (REGISTERED NUMBER: 05685307)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade debtors 43,878 31,482
Other debtors 100 100
Directors' loan accounts 47,966 10,000
Prepayments 1,673 1,614
93,617 43,196

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade creditors 130,000 130,000
Tax 12,028 8,056
VAT 1,898 1,685
Directors' loan accounts 17,535 19,569
Accruals and deferred income 372,129 315,275
533,590 474,585

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2019
and 31 December 2018:

31.12.19 31.12.18
£    £   
A J Adams
Balance outstanding at start of year (2,034 ) (2,034 )
Amounts advanced 50,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,966 (2,034 )

R A Adams
Balance outstanding at start of year 10,000 30,000
Amounts advanced - 10,000
Amounts repaid (10,000 ) (30,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,000

The above directors had interest free loans during the year with no fixed repayment terms.

By virtue of the loan accounts, a liability to taxation exists under section 455 of CTA 2010 in the sum of
£15,589 which will be repaid or discharged when the loans are repaid. It is anticipated that the loans
will be repaid within 9 months of the year end and so no provision for the taxation has been made.

7. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.

Page 4