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

REGISTERED NUMBER: 03503682 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

Saschem Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Director:

RDG Bigmore

Registered office:

Unit 2, Foley Works

Foley Trading Estate

Hereford

HR1 2SF

Registered number:

03503682 (England and Wales)

FIXED ASSETS

Tangible assets

5

477

953

CURRENT ASSETS

Debtors

3,502

53,235

Cash at bank

36,040

75,631

39,542

128,866

CREDITORS

Amounts falling due within one year

40,016

141,493

NET CURRENT LIABILITIES

(474

)

(12,627

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3

(11,674

)

PROVISIONS FOR LIABILITIES

91

181

NET LIABILITIES

(88

)

(11,855

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(188

)

(11,955

)

SHAREHOLDERS' FUNDS

(88

)

(11,855

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2020 and were signed by:

RDG Bigmore - Director

1.	STATUTORY INFORMATION

Saschem 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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

Plant and equipment

-

20% on cost

Fixtures and fittings

-

20% on cost

Office equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the average rate of exchange

for the accounting year . Exchange differences are taken into account in arriving at the operating result 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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement.

They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

Cost

At 1 February 2019

and 31 January 2020

21,152

Depreciation

At 1 February 2019

20,199

Charge for year

476

At 31 January 2020

20,675

Net book value

At 31 January 2020

477

At 31 January 2019

953

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100