Saphire Group UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11563185 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

SAPHIRE GROUP UK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K M Collett

Mr S D Rogers

SECRETARY:

Ms S C Aggrey

REGISTERED OFFICE:

Unit 24 Blackworth Industrial estate

Highworth

Wiltshire

SN6 7NA

REGISTERED NUMBER:

11563185 (England and Wales)

ACCOUNTANTS:

Haines Watts Cirencester Limited

Old Station House

Station Approach

Newport Street

Swindon

Wiltshire

SN1 3DU

FIXED ASSETS

Intangible assets

4

29,400

33,600

Tangible assets

5

22,783

47,003

52,183

80,603

CURRENT ASSETS

Stocks

21,946

5,113

Debtors

6

242,344

228,482

Cash at bank

1,405

5,890

265,695

239,485

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

428,537

237,917

NET CURRENT (LIABILITIES)/ASSETS

(162,842

)

1,568

TOTAL ASSETS LESS CURRENT LIABILITIES

(110,659

)

82,171

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

8

40,020

76,566

NET (LIABILITIES)/ASSETS

(150,679

)

5,605

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(150,689

)

5,595

(150,679

)

5,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2022 and were signed on its behalf by:

Mrs K M Collett - Director

1.	STATUTORY INFORMATION

Saphire Group UK 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.	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.

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.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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 machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks & work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Costs include all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. An element of profit is included where the outcome of the project may reasonably be determined.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2020

and 30 November 2021

42,000

AMORTISATION

At 1 December 2020

8,400

Charge for year

4,200

At 30 November 2021

12,600

NET BOOK VALUE

At 30 November 2021

29,400

At 30 November 2020

33,600

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 December 2020

5,917

4,916

58,480

69,313

Additions

1,124

1,237

5,995

8,356

Disposals

-

-

(35,995

)

(35,995

)

At 30 November 2021

7,041

6,153

28,480

41,674

DEPRECIATION

At 1 December 2020

1,823

1,651

18,836

22,310

Charge for year

961

832

3,787

5,580

Eliminated on disposal

-

-

(8,999

)

(8,999

)

At 30 November 2021

2,784

2,483

13,624

18,891

NET BOOK VALUE

At 30 November 2021

4,257

3,670

14,856

22,783

At 30 November 2020

4,094

3,265

39,644

47,003

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/21

30/11/20

£

£

Trade debtors

119,897

122,084

Other debtors

122,447

106,398

242,344

228,482

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/21

30/11/20

£

£

Bank loans and overdrafts

9,596

3,923

Hire purchase contracts (see note 9)

4,078

7,674

Trade creditors

231,191

70,997

Taxation and social security

107,523

96,645

Other creditors

76,149

58,678

428,537

237,917

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/11/21

30/11/20

£

£

Bank loans

36,481

46,077

Hire purchase contracts (see note 9)

3,539

30,489

40,020

76,566

30/11/21

30/11/20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due in more than 5

years

-

6,161

-

6,161

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30/11/21

30/11/20

£

£

Net obligations repayable:

Within one year

4,078

7,674

Between one and five years

3,539

30,489

7,617

38,163

Non-cancellable

operating leases

30/11/21

30/11/20

£

£

Within one year

4,500

4,500

Between one and five years

18,000

18,000

In more than five years

7,500

12,000

30,000

34,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

30/11/21

30/11/20

£

£

Hire purchase contracts

7,617

-

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2021 and 30 November 2020:

30/11/21

30/11/20

£

£

Mrs K M Collett

Balance outstanding at start of year

(16,708

)

(16,708

)

Amounts advanced

50,159

-

Amounts repaid

(15,436

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,015

(16,708

)