Get Savvy Group Limited 31/12/2020 iXBRL
Get Savvy Group Limited 31/12/2020 iXBRL
Company registration number:
05340060
Contents
Directors and other information
Accountant's report
Abridged statement of financial position
Notes to the financial statements
Directors and other information
Director |
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Company number |
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Registered office |
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Accountant |
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Accountants Advice Limited | ||
29 Temple Lane | ||
Copmanthorpe | ||
YO23 3TB | ||
Chartered accountant's report to the director on the preparation of the
unaudited statutory financial statements of Get Savvy Group Limited
Year ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Get Savvy Group Limited for the year ended 31 December 2020 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Get Savvy Group Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Get Savvy Group Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Get Savvy Group Limited and its director as a body for my work or for this report.
It is your duty to ensure that Get Savvy Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Get Savvy Group Limited. You consider that Get Savvy Group Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Get Savvy Group Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
ACA
Accountants Advice Limited
29 Temple Lane
Copmanthorpe
YO23 3TB
11 June 2021
Abridged statement of financial position
31 December 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Investments | 6 |
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Current assets | |||||||||
Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 9 |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholder funds |
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Director's responsibilities:
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The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
11 June 2021
, and are signed on behalf of the board by:
Director
Company registration number:
05340060
Notes to the financial statements
Year ended 31 December 2020
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 15-17 High Court Lane, The Calls, Leeds, LS2 7EU.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Operating leases
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property | - |
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Plant and machinery | - |
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Fittings fixtures and equipment | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Hire purchase and finance leases
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2019:
9
).
5.
Tangible assets
£ | ||
Cost | ||
At 1 January 2020 |
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Additions |
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Disposals |
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At 31 December 2020 |
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Depreciation | ||
At 1 January 2020 |
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Charge for the year |
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Disposals |
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At 31 December 2020 |
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Carrying amount | ||
At 31 December 2020 |
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At 31 December 2019 |
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6.
Investments
£ | ||
Cost | ||
At 1 January 2020 and 31 December 2020 |
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Impairment | ||
At 1 January 2020 and 31 December 2020 | - | |
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Carrying amount | ||
At 31 December 2020 |
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At 31 December 2019 |
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7.
Debtors
Debtors include amounts of £- (2019: £-) falling due after more than one year.
8.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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9.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Other creditors |
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10.
Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company: | |||||
2020 | |||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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2019 | |||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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11.
Controlling party
The company is under the control of the director.
12.
Operating lease commitments
At the reporting end date the company had outstanding commmitments for future minimum lease payments under non-cancellable operating leases of £54,167 (2019:£173,784)