Satin Design Limited - Accounts to registrar (filleted) - small 18.1
Satin Design Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| FOR |
| SATIN DESIGN LIMITED |
| SATIN DESIGN LIMITED (REGISTERED NUMBER: 05849644) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SATIN DESIGN LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 24 Bedford Row |
| London |
| WC1R 4TQ |
| SATIN DESIGN LIMITED (REGISTERED NUMBER: 05849644) |
| BALANCE SHEET |
| 30 JUNE 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS | 14 |
| 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. |
| SATIN DESIGN LIMITED (REGISTERED NUMBER: 05849644) |
| BALANCE SHEET - continued |
| 30 JUNE 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| SATIN DESIGN LIMITED (REGISTERED NUMBER: 05849644) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 1. | STATUTORY INFORMATION |
| Satin Design Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with applicable Accounting Standards in the United |
| Kingdom. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Short leasehold | - |
| Fixtures, fittings and equipment | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, |
| 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. |
| SATIN DESIGN LIMITED (REGISTERED NUMBER: 05849644) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| fittings |
| Short | and | Motor |
| leasehold | equipment | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2017 |
| DEPRECIATION |
| At 1 July 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| SATIN DESIGN LIMITED (REGISTERED NUMBER: 05849644) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under finance leases are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| Additions |
| At 30 June 2017 |
| DEPRECIATION |
| Charge for year |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| 5. | STOCKS |
| 2017 | 2016 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Amounts due from related company | 58,458 | 37,118 |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other taxation | 152,409 | 147,007 |
| Other creditors |
| Advanced Deposits | - | 50,441 |
| Directors' current accounts | 35,685 | 41,001 |
| Accruals and deferred income |
| SATIN DESIGN LIMITED (REGISTERED NUMBER: 05849644) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Finance leases |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| 10. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 3,030 | 3,017 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2016 |
| Provided during year |
| Balance at 30 June 2017 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 July 2016 |
| Profit for the year |
| At 30 June 2017 |
| SATIN DESIGN LIMITED (REGISTERED NUMBER: 05849644) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 13. | RELATED PARTY DISCLOSURES |
| F Nagree and Z Sardar are also directors of Freeman Ventures Limited. At the balance sheet date the amounts |
| due from the related company was £58,458. (2016 £37118). |
| 14. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
| 2017 | 2016 |
| £ | £ |
| Profit for the financial year |
| Dividends | ( |
) |
| Opening shareholders funds |
| Net addition to shareholders' funds | 79,638 | 67,811 |
| Opening shareholders' funds | 114,273 | 46,462 |
| Closing shareholders' funds | 193,911 | 114,273 |
| 15. | FIRST YEAR ADOPTION |
| The Company has adopted FRS 102 1A for the year ended 30 June 2017 and there are no transitional adjustment |
| arising due the FRS 102 1A adoption. |