Saffron New Homes Ltd. - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06678101 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2018

for

Saffron New Homes Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Sandhu

REGISTERED OFFICE:

White Rose House

5 Walnut Grove

Cotgrave

Nottingham

Nottinghamshire

NG12 3AU

REGISTERED NUMBER:

06678101 (England and Wales)

ACCOUNTANTS:

Fouette Accountancy Solutions Limited

White Rose House

5 Walnut Grove

Cotgrave

Nottingham

NG12 3AU

CURRENT ASSETS

Debtors

4

201

1,224

Cash at bank

11,699

8,376

11,900

9,600

CREDITORS

Amounts falling due within one year

5

5,713

5,558

NET CURRENT ASSETS

6,187

4,042

TOTAL ASSETS LESS CURRENT LIABILITIES

6,187

4,042

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

6,185

4,040

SHAREHOLDERS' FUNDS

6,187

4,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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 29 April 2019 and were signed by:

S Sandhu - Director

1.	STATUTORY INFORMATION

Saffron New Homes Ltd. 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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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 1 (2017 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

-

1,027

Prepayments and accrued income

201

197

201

1,224

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Tax

503

976

Other creditors

300

-

Directors' loan accounts

4,790

4,582

Accrued expenses

120

-

5,713

5,558

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There was £12,900 (2017: £6,750) paid to S Sandhu in the year for rent of the property that he owns,

which the company rents out. There were no amounts outstanding at the year end (2017: £nil) in relation

to this rent.

7.	RELATED PARTY DISCLOSURES

In the year there were transactions between the company and S Sandhu, the director and shareholder. At

the year end the amount outstanding in relation to these transactions was £4,790 (2017: £4,582).

8.	ULTIMATE CONTROLLING PARTY

The controlling party is S Sandhu.