SAITHY LIMITED - Accounts

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Registered Number: 12470834

England and Wales

SAITHY LIMITED

Abridged Accounts

Period of accounts

Start date: 01 March 2021

End date: 28 February 2022

SAITHY LIMITED
Contents Page
For the year ended 28 February 2022

Statement of financial position	1
Notes to the financial statements	2

SAITHY LIMITED
Statement of Financial Position
As at 28 February 2022

	2022 £	2021 £
Fixed assets
Tangible fixed assets	1,481	1,742
	1,481	1,742
Current assets
Stocks	1,250	1,450
Cash at bank and in hand	1,085	349
	2,335	1,799
Creditors: amount falling due within one year	(4,977)	(854)
Net current liabilities	(2,642)	945

Total assets less current liabilities	(1,161)	2,687
Net liabilities	(1,161)	2,687

Capital and reserves
Called up share capital	1	1
Profit and loss account	(1,162)	2,686
Shareholder's funds	(1,161)	2,687

For the accounting year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the director on 16 November 2022 and were signed by:

--------------------------------
Jesmin Rahman
Director

SAITHY LIMITED
Notes to the Abridged Financial Statements
For the year ended 28 February 2022

General Information

SAITHY LIMITED is a private company, limited by shares, registered in England and wales, registration number 12470834, registration address Ground Floor, 48 White Horse Road, London, E1 0ND

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Cost of sales

Cost of sales comprises the invoiced value of goods and services realised by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and Fittings

15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Staff Costs

	2022	2021

Average number of employees during the year	Number	Number
Administration	1	1
Sales	1	1
	2	2

3.	Average number of employees Average number of employees during the year was 2 (2021 : 2).

Tangible fixed assets

Cost or valuation	Fixtures and Fittings	Total
	£	£
At 01 March 2021	2,050	2,050
Additions	-	-
Disposals	-	-
At 28 February 2022	2,050	2,050
Depreciation
At 01 March 2021	308	308
Charge for year	261	261
On disposals	-	-
At 28 February 2022	569	569
Net book values
Closing balance as at 28 February 2022	1,481	1,481
Opening balance as at 01 March 2021	1,742	1,742