Sarthe Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07595659 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SARTHE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I B S Kathuria

G R Spiller

REGISTERED OFFICE:

Equinox House

Clifton Park

Shipton Road

York

Yorkshire

YO30 5PA

REGISTERED NUMBER:

07595659 (England and Wales)

ACCOUNTANTS:

Fortus North Limited

Equinox House

Clifton Park, Shipton Road

York

Yorkshire

YO30 5PA

FIXED ASSETS

Investment property

4

3,300,000

3,605,000

CURRENT ASSETS

Debtors

5

111,690

129,459

Cash at bank and in hand

459,955

367,063

571,645

496,522

CREDITORS

Amounts falling due within one year

6

130,947

114,764

NET CURRENT ASSETS

440,698

381,758

TOTAL ASSETS LESS CURRENT LIABILITIES

3,740,698

3,986,758

CREDITORS

Amounts falling due after more than one year

7

(1,250,152

)

(1,308,220

)

PROVISIONS FOR LIABILITIES

(378,671

)

(345,740

)

NET ASSETS

2,111,875

2,332,798

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

2,111,869

2,332,792

2,111,875

2,332,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:

G R Spiller - Director

I B S Kathuria - Director

1.	STATUTORY INFORMATION

Sarthe 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the amounts recoverable for property rental services.

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.

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 2 (2022 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2022

3,605,000

Revaluations

(305,000

)

At 31 May 2023

3,300,000

NET BOOK VALUE

At 31 May 2023

3,300,000

At 31 May 2022

3,605,000

Fair value at 31 May 2023 is represented by:

£

Valuation in 2022

3,605,000

Valuation in 2023

(305,000

)

3,300,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

111,690

129,459

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

57,529

47,885

Taxation and social security

51,388

51,256

Other creditors

22,030

15,623

130,947

114,764

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

1,250,152

1,308,220

Included within creditors due within one year and more than one year is a bank loans amounting to £1,307,681 (2022: £1,356,105) which is secured by a debenture being a fixed and floating change over all the company assets.