SAS Special Projects Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07066556 (England and Wales)

Financial Statements for the Year Ended 30 November 2018

for

SAS Special Projects Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mr G Jennings

Mr J B Jennings

REGISTERED OFFICE:

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

REGISTERED NUMBER:

07066556 (England and Wales)

ACCOUNTANTS:

Nordens

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

FIXED ASSETS

Tangible assets

4

120,322

151,990

CURRENT ASSETS

Stocks

5,294

7,350

Debtors

5

430,956

376,549

Cash at bank and in hand

237,677

306,401

673,927

690,300

CREDITORS

Amounts falling due within one year

6

497,088

619,702

NET CURRENT ASSETS

176,839

70,598

TOTAL ASSETS LESS CURRENT LIABILITIES

297,161

222,588

CREDITORS

Amounts falling due after more than one year

7

6,887

5,376

NET ASSETS

290,274

217,212

CAPITAL AND RESERVES

Called up share capital

51

51

Retained earnings

8

290,223

217,161

290,274

217,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 24 June 2019 and were signed on its behalf by:

Mr J B Jennings - Director

Mr G Jennings - Director

1.	STATUTORY INFORMATION

SAS Special Projects 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2017

97,195

1,595

189,702

238

288,730

Additions

3,850

-

8,594

-

12,444

Disposals

-

-

(7,950

)

-

(7,950

)

At 30 November 2018

101,045

1,595

190,346

238

293,224

DEPRECIATION

At 1 December 2017

34,886

1,269

100,359

226

136,740

Charge for year

10,274

49

25,836

3

36,162

At 30 November 2018

45,160

1,318

126,195

229

172,902

NET BOOK VALUE

At 30 November 2018

55,885

277

64,151

9

120,322

At 30 November 2017

62,309

326

89,343

12

151,990

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade debtors

430,956

376,549

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Bank loans and overdrafts

10,624

-

Hire purchase contracts

11,022

11,022

Trade creditors

199,456

282,976

Taxation and social security

124,295

113,714

Other creditors

151,691

211,990

497,088

619,702

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.18

30.11.17

£

£

Hire purchase contracts

6,887

5,376

8.

RESERVES

Retained

earnings

£

At 1 December 2017

217,161

Profit for the year

78,062

Dividends

(5,000

)

At 30 November 2018

290,223

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 (2017 - £30,000) were paid to the directors .

The Directors, Mr G Jennings and Mr J B Jennings are considered to be key management personnel.

Mr G Jennings was paid a salary of £19,224 (2017 - £19,224) and J B Jennings was paid a salary of £46,250

(2017 - £32,500) during the year.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of SAS Special Projects Limited for the year ended 30 November 2018 which comprise the

Income Statement, Statement of Financial Position and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of SAS Special Projects Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SAS Special Projects Limited and state those matters that we have agreed to state to the Board of Directors of SAS Special Projects Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAS Special Projects Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SAS Special Projects Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SAS Special Projects Limited. You consider that SAS Special Projects Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SAS Special Projects Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Nordens

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

Date: .............................................