Sardafine Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01206081 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Sardafine Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P J Hughes

SECRETARY:

Mrs J A Richardson

REGISTERED OFFICE:

75 Springfield Road

Chelmsford

Essex

CM2 6JB

REGISTERED NUMBER:

01206081 (England and Wales)

ACCOUNTANTS:

NSO Associates LLP

75 Springfield Road

Chelmsford

Essex

CM2 6JB

FIXED ASSETS

10,811

Tangible assets

4

9,007

CURRENT ASSETS

32,766

Debtors

5

32,423

8,208

Cash at bank and in hand

6,922

40,974

39,345

CREDITORS

6,107

Amounts falling due within one year

6

6,323

34,867

NET CURRENT ASSETS

33,022

45,678

TOTAL ASSETS LESS CURRENT LIABILITIES

42,029

1,140

PROVISIONS FOR LIABILITIES

1,263

44,538

NET ASSETS

40,766

CAPITAL AND RESERVES

6,100

Called up share capital

7

6,100

38,438

Retained earnings

34,666

44,538

SHAREHOLDERS' FUNDS

40,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 16 March 2018 and were signed by:

P J Hughes - Director

1.	STATUTORY INFORMATION

Sardafine 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced work done and services, excluding value added tax and also recognises work carried out

up to, but not invoiced, at the balance sheet date where the company has obtained the right to consideration.

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

-

33% on cost and 15% on reducing balance

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and

liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and

investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right

to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability

simultaneously.

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.

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 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

76,031

DEPRECIATION

At 1 June 2016

65,220

Charge for year

1,804

At 31 May 2017

67,024

NET BOOK VALUE

At 31 May 2017

9,007

At 31 May 2016

10,811

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

4,415

4,519

Other debtors

28,008

28,247

32,423

32,766

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade creditors

2,193

2,172

Taxation and social security

1,085

1,125

Other creditors

3,045

2,810

6,323

6,107

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

6,000

Ordinary

£1

6,000

6,000

100

Ordinary A

£1

100

100

6,100

6,100

8.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements under UK

GAAP were for the year ended 31 May 2016. The date of transition to FRS 102 was 1 June 2015. There are no

transactional adjustments arising from the first time adoption of FRS 102.