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

REGISTERED NUMBER: 09112952 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

FOR

SAFFRON WEAVER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E C Hunter Smart

C Olsen

REGISTERED OFFICE:

19 Newman Lane

Alton

Hampshire

GU34 2QW

REGISTERED NUMBER:

09112952 (England and Wales)

ACCOUNTANTS:

Landers Accountants Ltd

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS

FIXED ASSETS

Investments

4

2,236,705

2,236,705

Investment property

5

4,434,330

-

6,671,035

2,236,705

CURRENT ASSETS

Debtors

6

1,255

100

Cash at bank

1,501,704

2,309,785

1,502,959

2,309,885

CREDITORS

Amounts falling due within one year

7

380,631

161,467

NET CURRENT ASSETS

1,122,328

2,148,418

TOTAL ASSETS LESS CURRENT LIABILITIES

7,793,363

4,385,123

CREDITORS

Amounts falling due after more than one year

8

2,640,600

-

NET ASSETS

5,152,763

4,385,123

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,152,663

4,385,023

SHAREHOLDERS' FUNDS

5,152,763

4,385,123

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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 and authorised for issue by the Board of Directors and authorised for issue on 15 March 2021 and were signed on its behalf by:

C Olsen - Director

E C Hunter Smart - Director

1.	STATUTORY INFORMATION

Saffron Weaver Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address is 19 Newman Lane, Alton, Hampshire, GU34 2QW.

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.

Preparation of consolidated financial statements

The financial statements contain information about Saffron Weaver Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 September 2019

and 31 August 2020

2,236,705

NET BOOK VALUE

At 31 August 2020

2,236,705

At 31 August 2019

2,236,705

1900 shares are held at a value of £1 each.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

4,434,330

At 31 August 2020

4,434,330

NET BOOK VALUE

At 31 August 2020

4,434,330

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Other debtors

1,255

100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans and overdrafts

195,600

-

Amounts owed to group undertakings

184,156

161,467

Other creditors

875

-

380,631

161,467

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans

2,640,600

-