SAP Compliance Limited - Period Ending 2020-04-30

SAP Compliance Limited

Contents

Statement of financial position	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

SAP Compliance Limited

(Registration number: 09543014)
Statement of financial position as at 30 April 2020

	Note	2020 £	2019 £
Current assets
Debtors	4	77,464	66,545
Cash at bank and in hand		1,626	62
		79,090	66,607
Creditors: Amounts falling due within one year	5	(78,465)	(65,693)
Net assets		625	914
Capital and reserves
Called up share capital	6	100	100
Profit and loss account		525	814
Total equity		625	914

For the financial year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

SAP Compliance Limited

(Registration number: 09543014)
Statement of financial position as at 30 April 2020

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income statement has been taken.

Approved and authorised by the director on 27 January 2021
 

......................................... Mr S R Hewitt Director

SAP Compliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
South Lodge
Roffey Park
Forest Road
Horsham
West Sussex
RH12 4TD

These financial statements were authorised for issue by the director on 27 January 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

SAP Compliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2019 - 1).

4

Debtors

	2020 £	2019 £
Trade debtors	14,976	10,646
Other debtors	62,488	55,899
	77,464	66,545

SAP Compliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020

5

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Trade creditors	3,040	-
Taxation and social security	73,125	61,393
Accruals and deferred income	2,300	4,300
	78,465	65,693

6	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

7	Related party transactions

Transactions with directors

2020	At 1 May 2019 £	Advances to directors £	At 30 April 2020 £
Mr S R Hewitt
Director loan at 2.5% interest per annum	42,188	6,861	49,049

SAP Compliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020

2019	At 1 May 2018 £	Repayments by director £	At 30 April 2019 £
Mr S R Hewitt
Director loan at 2.5% interest per annum	56,959	(14,771)	42,188