Company Registration No. 02959686 (England and Wales)
SATELLITE ARCHITECTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2016
SATELLITE ARCHITECTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SATELLITE ARCHITECTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
8,462
5,477
Current assets
Debtors
128,188
78,400
128,188
78,400
Creditors: amounts falling due within one year
(135,612)
(77,086)
Net current liabilities/(assets)
(7,424)
1,314
Total assets less current liabilities
1,038
6,791
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
(8,962)
(3,209)
Shareholders' funds
1,038
6,791
For the financial Period ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 31 May 2017
Mr S G Dodd
Director
Company Registration No. 02959686
SATELLITE ARCHITECTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15% Reducing Balance
Computer equipment
15% Reducing Balance
Fixtures, fittings & equipment
15% Reducing Balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
SATELLITE ARCHITECTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2015
44,955
Additions
8,061
At 31 August 2016
53,016
Depreciation
At 1 March 2015
39,478
Charge for the period
5,076
At 31 August 2016
44,554
Net book value
At 31 August 2016
8,462
At 28 February 2015
5,477
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10,000 Ordinary Shares of £1 each
10,000
10,000
4
Related party relationships and transactions
Loans to directors
The following directors had loans during the Period. The movement on these loans are as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Loan
5.00
-
60,763
3,000
-
63,763
-
60,763
3,000
-
63,763