Saddle Up Ltd. - Accounts to registrar (filleted) - small 18.2
Saddle Up Ltd. - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2018 |
| FOR |
| SADDLE UP LTD. |
| SADDLE UP LTD. (REGISTERED NUMBER: SC281999) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SADDLE UP LTD. |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| AFM House |
| 6 Crofthead Road |
| Prestwick |
| Ayrshire |
| KA9 1HW |
| SADDLE UP LTD. (REGISTERED NUMBER: SC281999) |
| BALANCE SHEET |
| 31ST MARCH 2018 |
| 31.3.18 | 31.3.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| 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 | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 | 124,668 | 118,090 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| 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 |
| SADDLE UP LTD. (REGISTERED NUMBER: SC281999) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Saddle Up Ltd. is a |
| registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
| tax and other sales taxes. |
| During the year Ms Ashley Whyte, Director, suffered an accident which resulted in an inability to work. This consequently |
| impacted on sales volume which is evident in the reduction in turnover, 2018: £214,992 (2017: £233,424). |
| Tangible fixed assets |
| Fixtures and fittings | - |
| 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 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SADDLE UP LTD. (REGISTERED NUMBER: SC281999) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st April 2017 |
| and 31st March 2018 |
| DEPRECIATION |
| At 1st April 2017 |
| Charge for year |
| At 31st March 2018 |
| NET BOOK VALUE |
| At 31st March 2018 |
| At 31st March 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1st April 2017 |
| and 31st March 2018 |
| DEPRECIATION |
| At 1st April 2017 |
| Charge for year |
| At 31st March 2018 |
| NET BOOK VALUE |
| At 31st March 2018 |
| At 31st March 2017 |
| 5. | STOCKS |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| SADDLE UP LTD. (REGISTERED NUMBER: SC281999) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT |
| Other creditors |
| Directors' loan accounts |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Hire purchase contracts |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Deferred tax |
| Deferred |
| tax |
| £ |
| Balance at 1st April 2017 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31st March 2018 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1st April 2017 |
| Profit for the year |
| Dividends | ( |
) |
| At 31st March 2018 |
| 12. | RELATED PARTY DISCLOSURES |
| At 31st March 2018 the company owed Miss Ashley Whyte, Director £98,894 (2017: £101,975) .The loan is interest free |
| and has no fixed date for repayment. |
| SADDLE UP LTD. (REGISTERED NUMBER: SC281999) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2018 |
| 13. | ULTIMATE CONTROLLING PARTY |
| Saddle Up Limited was under the ultimate control of Miss Ashley Whyte, Director for the whole of the year to 31st March |
| 2018. |