Satellite Aerial Trade Supplies Limited - Accounts to registrar (filleted) - small 18.2

Satellite Aerial Trade Supplies Limited - Accounts to registrar (filleted) - small 18.2


IRIS Accounts Productionv21.1.0.652SC525675director1.4.1931.3.2031.3.20falsetruefalsefalsetruefalseOrdinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5256752019-03-31SC5256752020-03-31SC5256752019-04-012020-03-31SC5256752018-02-28SC5256752018-03-012019-03-31SC5256752019-03-31SC525675ns16:Scotland2019-04-012020-03-31SC525675ns15:PoundSterling2019-04-012020-03-31SC525675ns11:Director12019-04-012020-03-31SC525675ns11:PrivateLimitedCompanyLtd2019-04-012020-03-31SC525675ns11:SmallEntities2019-04-012020-03-31SC525675ns11:AuditExempt-NoAccountantsReport2019-04-012020-03-31SC525675ns11:SmallCompaniesRegimeForDirectorsReport2019-04-012020-03-31SC525675ns11:SmallCompaniesRegimeForAccounts2019-04-012020-03-31SC525675ns11:FullAccounts2019-04-012020-03-31SC525675ns11:OrdinaryShareClass12019-04-012020-03-31SC525675ns11:CompanySecretary12019-04-012020-03-31SC525675ns11:RegisteredOffice2019-04-012020-03-31SC525675ns6:CurrentFinancialInstruments2020-03-31SC525675ns6:CurrentFinancialInstruments2019-03-31SC525675ns6:ShareCapital2020-03-31SC525675ns6:ShareCapital2019-03-31SC525675ns6:RetainedEarningsAccumulatedLosses2020-03-31SC525675ns6:RetainedEarningsAccumulatedLosses2019-03-31SC525675ns6:PlantMachinery2019-04-012020-03-31SC525675ns6:PlantMachinery2020-03-31SC525675ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-03-31SC525675ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-03-31SC525675ns11:OrdinaryShareClass12020-03-31SC525675ns6:RetainedEarningsAccumulatedLosses2019-04-012020-03-31SC525675ns11:Director112019-03-31SC525675ns11:Director112018-02-28SC525675ns11:Director112019-04-012020-03-31SC525675ns11:Director112018-03-012019-03-31SC525675ns11:Director112020-03-31SC525675ns11:Director112019-03-31
















Unaudited Financial Statements for the Year Ended 31 March 2020

for

Satellite Aerial Trade Supplies Limited

Satellite Aerial Trade Supplies Limited (Registered number: SC525675)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Satellite Aerial Trade Supplies Limited

Company Information
for the Year Ended 31 March 2020







DIRECTOR: G Shacklock





SECRETARY:





REGISTERED OFFICE: Unit 22
Imex Business Park
Loanhead
Edinburgh
EH20 9LZ





REGISTERED NUMBER: SC525675(Scotland)





ACCOUNTANTS: D & A Pearston Ltd
Chartered Accountants
73 Stirling Business Centre
Wellgreen Place
Stirling
FK8 2DZ

Satellite Aerial Trade Supplies Limited (Registered number: SC525675)

Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,746 -

CURRENT ASSETS
Stocks 78,000 -
Debtors 5 24,799 100
Cash at bank 14,879 -
117,678 100
CREDITORS
Amounts falling due within one year 6 232,474 -
NET CURRENT (LIABILITIES)/ASSETS (114,796 ) 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

(79,050

)

100

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 (79,150 ) -
SHAREHOLDERS' FUNDS (79,050 ) 100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 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 7 June 2021and were signed by:





G Shacklock- Director


Satellite Aerial Trade Supplies Limited (Registered number: SC525675)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

Satellite Aerial Trade Supplies Limited is a private company, limited by shares, registered in Scotland. 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.

The trading deficit is funded by director's loan. The director has indicated his willingness to continue to fund the business and is confident that the company has sufficient funds to meet its obligations as they fall due. The director is confident that the business will soon be profitable and therefore considers that it is appropriate that the accounts be prepared on a going concern basis.

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 etc - 25% on reducing balance and 15% 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.

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.

Satellite Aerial Trade Supplies Limited (Registered number: SC525675)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1(2019 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 41,496
At 31 March 2020 41,496
DEPRECIATION
Charge for year 5,750
At 31 March 2020 5,750
NET BOOK VALUE
At 31 March 2020 35,746

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade debtors 14,763 -
Other debtors 10,036 100
24,799 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade creditors 30,369 -
Taxation and social security 1,722 -
Other creditors 200,383 -
232,474 -

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.20 31.3.19
value: £    £   
100 Ordinary £1 100 100

Satellite Aerial Trade Supplies Limited (Registered number: SC525675)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

8. RESERVES
Retained
earnings
£   

Deficit for the year (79,150 )
At 31 March 2020 (79,150 )

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2020 and the period ended 31 March 2019:

31.3.20 31.3.19
£    £   
G Shacklock
Balance outstanding at start of year - -
Amounts repaid (190,309 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (190,309 ) -

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Shacklock.