Accounts filed on 31-03-2017


Registered number: 06744840






Saietta Group Limited


ACCOUNTS

FOR THE YEAR ENDED 31/03/2017
























Prepared By:
Dovey Accountancy Services Limited
Chartered Certified Accountants
Heyford Park House
Heyford Park
Upper Heyford
Bicester
OX25 5HD


ACCOUNTS
FOR THE YEAR ENDED 31/03/2017





DIRECTORS
L Marazzi
D Rytikov (resigned 25/05/2017)
O Pak
V Shegai
Y Bakry
M Taylor
J Wynn (appointed 13/06/2017, resigned 19/07/2017)


REGISTERED OFFICE
Building 210
Heyford Park
Upper Heyford
Oxfordshire
OX25 5HE


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 06744840



ACCOUNTANTS
Dovey Accountancy Services Limited
Chartered Certified Accountants
Heyford Park House
Heyford Park
Upper Heyford
Bicester
OX25 5HD


ACCOUNTS
FOR THEYEARENDED31/03/2017



CONTENTS



		Page

Directors' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31/03/2017

			2017		2016
	Notes		£		£

FIXED ASSETS
Intangible assets	2		7,962		8,094
Tangible assets	3		349,176		319,197

			357,138		327,291

CURRENT ASSETS
Stock		79,585		30,000
Debtors	5	883,726		295,730
Cash at bank and in hand		142,268		19,848
		1,105,579		345,578
CREDITORS: Amounts falling due within one year	6	759,212		921,299
NET CURRENT ASSETS / (LIABILITIES)			346,367		(575,721)
TOTAL ASSETS LESS CURRENT LIABILITIES			703,505		(248,430)


CREDITORS: Amounts falling due after more than one year	7		905		-

NET ASSETS / (LIABILITIES)			702,600		(248,430)

CAPITAL AND RESERVES

Called up share capital	9		1,367		1,178
Share premium account	10		4,522,758		2,712,261
Profit and loss account			(3,821,525)		(2,961,869)
SHAREHOLDERS' FUNDS			702,600		(248,430)

For the year ending 31/03/2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 13/12/2017 and signed on their behalf by



.............................
M Taylor
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short Leasehold Properties		straight line 20%
Plant and Machinery		reducing balance 25%
Fixtures and Fittings		reducing balance 15%
Motor Cars		straight line 25%




1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1d. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.




2. INTANGIBLE FIXED ASSETS


	Patents	Total
	£	£
Cost
At 01/04/2016	14,343	14,343
Additions	1,335	1,335
At 31/03/2017	15,678	15,678
Depreciation
At 01/04/2016	6,249	6,249
For the year	1,467	1,467
At 31/03/2017	7,716	7,716
Net Book Amounts
At 31/03/2017	7,962	7,962
At 31/03/2016	8,094	8,094
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write-off the cost in equal annual instalments over their estimated useful life of 10 years.




5. DEBTORS	2017	2016
	£	£
Amounts falling due within one year
Trade debtors	61,157	58,782
VAT	13,774	14,198
Other debtors	776,494	197,654
Prepayments and accrued income	32,301	25,096
	883,726	295,730




6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2017	2016
	£	£
PAYE control	35,234	105,115
Salaries and wages control	7,773	43,191
Directors current account	349,839	309,662
Loans	153,126	161,290
Credit card	171	562
Hire purchase	28,500	10,572
Trade creditors	67,501	124,012
Other creditors	4,867	9,957
Pension schemes	3,313	-
Accruals and deferred income	108,888	156,938
	759,212	921,299




7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2017	2016
	£	£
Hire purchase >1yr	905	-
	905	-




8. EMPLOYEES

	2017	2016
	No.	No.
Average number of employees: Management and Administration	9	7
Average number of employees: Production and Sales	23	19
	32	26




9. SHARE CAPITAL	2017	2016
	£	£
Allotted, issued and fully paid:
13,672,077 Class 1 shares of £0.0001 each	1367	1178
	1,367	1,178

New shares issued during period:
1,896,958 Class 1 shares of £0.0001 each	189	71
	189	1,178




11. CONTROLLING PARTY
The company's ultimate controlling party is Mr L Marazzi, a director of the company.




12. RELATED PARTY TRANSACTIONS
Mr L Marazzi, a director of the company, was owed the sum of £349,839 (2016: £309,661). This is included within creditors due within one year.