Sgaro Limited - Limited company - abbreviated - 11.6
Sgaro Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 October 2014 |
| for |
| Sgaro Limited |
| Sgaro Limited (Registered number: 07238433) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 October 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Sgaro Limited |
| Company Information |
| for the Year Ended 31 October 2014 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Sgaro Limited (Registered number: 07238433) |
| Abbreviated Balance Sheet |
| 31 October 2014 |
| 31.10.14 | 31.10.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the director on |
| Sgaro Limited (Registered number: 07238433) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 October 2014 |
| 1. | ACCOUNTING POLICIES |
| Going concern |
| During the year the company incurred a loss before tax of £201,077 (2013:£10,112). At the balance |
| sheet date the company's current liabilities exceeded its total assets by £207,326 (2013:£6,249). This |
| indicates a material uncertainty as to whether the going concern assumption is correct. The company |
| is wholly reliant on the continued support of its director. The director has indicated he will continue to |
| support the company for the next twelve months. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance |
| with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| Additions |
| At 31 October 2014 |
| DEPRECIATION |
| Charge for year |
| At 31 October 2014 |
| NET BOOK VALUE |
| At 31 October 2014 |
| Sgaro Limited (Registered number: 07238433) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 October 2014 |
| 3. | FIXED ASSET INVESTMENTS |
| The company's investments at the Balance Sheet date in the share capital of companies include the |
| following: |
| Associated company |
| Nature of business: |
| % |
| Class of shares: | holding |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.10.14 | 31.10.13 |
| value: | £ | £ |
| Ordinary | £1 |
| 5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| At 1 November 2013 the director's loan account balance was credit balance of £6,815. During the year, |
| the company made a repayment of £670,653 and the director withdrew £57,433. As a result at the end |
| of the year the company owed £620,035. |
| 6. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is the director, Mr G Sgariglia, by virtue of holding 100% of the issued |
| share capital. |