SANGAMA LIMITED Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 05083220

SANGAMA LIMITED

Filleted Unaudited Financial Statements

31 March 2021

SANGAMA LIMITED

Statement of Financial Position

31 March 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	4		1,121,890	–

Current assets

Cash at bank and in hand	132,906		232,955

Creditors: amounts falling due within one year	5	764,005		233,772
		---------		---------
Net current liabilities			631,099	817
			------------	----
Total assets less current liabilities			490,791	( 817)

Creditors: amounts falling due after more than one year	6	500,000	–
		---------	----
Net liabilities		( 9,209)	( 817)
		---------	----

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 9,309)	( 917)
	-------	----
Shareholders deficit	( 9,209)	( 817)
	-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2021 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SANGAMA LIMITED

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 3 December 2021 , and are signed on behalf of the board by:

Mrs G Ganeshamoorthy
Director

Company registration number: 05083220

SANGAMA LIMITED

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Otley Drive, Ilford, IG2 6SL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

As disclosed in the Statement of Financial Position on page 3, the company has a deficit of net assets. Of the creditors, £763,392 is owed to the director who has confirmed that no repayment would be demanded at least for the next twelve months. The director has considered the trading requirements of the company for the period exceeding twelve months from the date of this report. Having regard to the above therefore, it is the opinion of the director that the accounts be prepared on the going concern basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

4. Tangible assets

	Freehold property
	£
Cost
At 1 April 2020	–
Additions	1,121,890
	------------
At 31 March 2021	1,121,890
	------------
Depreciation
At 1 April 2020 and 31 March 2021	–
	------------
Carrying amount
At 31 March 2021	1,121,890
	------------
At 31 March 2020	–
	------------

5. Creditors: amounts falling due within one year

	2021	2020
	£	£
Other creditors	764,005	233,772
	---------	---------

6. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	500,000	–
	---------	----

Bank loans are secured by fixed and floating charges over the company's assets and negative pledge.