Company Registration No. 04339503 (England and Wales)
SARASTRO HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
SARASTRO HOLDINGS LIMITED
COMPANY INFORMATION
Directors
J J Scott
H H Scott-Lyon
H T Scott-Lyon
R H Scott
C S Lyon
J L Hoare
Company number
04339503
Registered office
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
Accountants
Harwood Hutton Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
SARASTRO HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
SARASTRO HOLDINGS LIMITED
BALANCE SHEET
AS AT 30 APRIL 2021
30 April 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,881
Investment properties
4
6,110,500
6,110,500
Investments
5
1,028,229
1,027,099
7,142,610
7,137,599
Current assets
Debtors
6
113,408
91,348
Cash at bank and in hand
88,649
202,057
91,348
Creditors: amounts falling due within one year
7
(6,264,959)
(6,146,059)
Net current liabilities
(6,062,902)
(6,054,711)
Net assets
1,079,708
1,082,888
Capital and reserves
Called up share capital
8
28,229
27,100
Profit and loss reserves
1,051,479
1,055,788
Total equity
1,079,708
1,082,888
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 January 2022 and are signed on its behalf by:
J J Scott
Director
Company Registration No. 04339503
SARASTRO HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2021
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2019
27,100
1,039,175
1,066,275
Year ended 30 April 2020:
Profit and total comprehensive income for the year
-
189,193
189,193
Dividends
-
(172,580)
(172,580)
Balance at 30 April 2020
27,100
1,055,788
1,082,888
Year ended 30 April 2021:
Profit and total comprehensive income for the year
-
141,686
141,686
Issue of share capital
8
1,129
-
1,129
Dividends
-
(145,995)
(145,995)
Balance at 30 April 2021
28,229
1,051,479
1,079,708
SARASTRO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 3 -
1
Accounting policies
Company information
Sarastro Holdings Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue arises from the rental of the company's investment properties net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries
are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
SARASTRO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
1.7
Taxation
The tax expense represents the sum of the tax currently payable
and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
SARASTRO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 5 -
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred
. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
6
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2020
Additions
5,175
At 30 April 2021
5,175
Depreciation and impairment
At 1 May 2020
Depreciation charged in the year
1,294
At 30 April 2021
1,294
Carrying amount
At 30 April 2021
3,881
At 30 April 2020
SARASTRO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 6 -
4
Investment property
2021
£
Fair value
At 1 May 2020 and 30 April 2021
6,110,500
The directors believe that there has been no significant change to the fair value of the property from its historical cost. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
1,028,229
1,027,099
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 May 2020
1,027,099
Additions
1,130
At 30 April 2021
1,028,229
Carrying amount
At 30 April 2021
1,028,229
At 30 April 2020
1,027,099
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
28,878
Other debtors
551
28,878
551
Deferred tax asset
84,530
90,797
113,408
91,348
SARASTRO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 7 -
7
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
6,205,045
6,143,554
Corporation tax
17,342
Other taxation and social security
11,208
Other creditors
31,364
2,505
6,264,959
6,146,059
8
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
28,229
27,100
28,229
27,100
9
Related party transactions
The company has taken advantage of the exemption allowed under Section 33.1A of FRS 102 not to disclose transactions with other wholly owned members of the group.