Satya Life Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04708976 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2020

for

Satya Life Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Claudia Agha

SECRETARY:

Sandra Agha

REGISTERED OFFICE:

1st Floor

21 Victory Road

Surbiton

Surrey

KT6 4JZ

REGISTERED NUMBER:

04708976 (England and Wales)

FIXED ASSETS

Tangible assets

4

100

133

CURRENT ASSETS

Stocks

68,865

68,865

Debtors

5

24,718

78,978

Cash at bank and in hand

21,293

(417

)

114,876

147,426

CREDITORS

Amounts falling due within one year

6

(56,197

)

(125,296

)

NET CURRENT ASSETS

58,679

22,130

TOTAL ASSETS LESS CURRENT LIABILITIES

58,779

22,263

CREDITORS

Amounts falling due after more than one year

7

(50,000

)

(1,588

)

NET ASSETS

8,779

20,675

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

(11,221

)

675

SHAREHOLDERS' FUNDS

8,779

20,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 24 May 2021 and were signed by:

Claudia Agha - Director

1.	STATUTORY INFORMATION

Satya Life 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 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 or, if held under a finance lease, over the lease term, whichever is shorter.

Plant & machinery etc - 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2019

and 31 August 2020

8,091

DEPRECIATION

At 1 September 2019

7,958

Charge for year

33

At 31 August 2020

7,991

NET BOOK VALUE

At 31 August 2020

100

At 31 August 2019

133

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade debtors

1,209

34,556

Other debtors

23,509

44,422

24,718

78,978

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans and overdrafts

499

6,804

Trade creditors

17,095

67,282

Taxation and social security

38,603

51,210

56,197

125,296

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans

50,000

1,588

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2020 and 31 August 2019:

31.8.20

31.8.19

£

£

Claudia Agha

Balance outstanding at start of year

23,329

30,633

Amounts advanced

60,122

-

Amounts repaid

(67,535

)

(7,304

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,916

23,329

The overdrawn directors loan account is shown in Note 7 under the heading of "other debtor".

9.	ULTIMATE CONTROLLING PARTY

The company is under the control of Ms C Agha by virtue of her shareholding.