COMPANY REGISTRATION NUMBER:
11971788
Sablet Investments Limited
|
|
Filleted Unaudited Financial Statements
|
|
Sablet Investments Limited
|
|
Statement of Financial Position
|
|
30 June 2022
Fixed assets
Investments
|
4
|
2,174,438
|
2,676,101
|
|
|
|
|
Current assets
Cash at bank and in hand
|
85,908
|
83,902
|
|
|
|
Creditors: amounts falling due within one year
|
5
|
2,243,670
|
2,527,890
|
|
------------
|
------------
|
Net current liabilities
|
2,157,762
|
2,443,988
|
|
------------
|
------------
|
Total assets less current liabilities
|
16,676
|
232,113
|
|
--------
|
---------
|
Net assets
|
16,676
|
232,113
|
|
--------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
300
|
300
|
Profit and loss account
|
16,376
|
231,813
|
|
--------
|
---------
|
Shareholders funds
|
16,676
|
232,113
|
|
--------
|
---------
|
|
|
|
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2022 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 year 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 financial statements were approved by the
board of directors
and authorised for issue on
7 March 2023
, and are signed on behalf of the board by:
PC Percival
|
E Percival
|
Director
|
Director
|
|
|
Company registration number:
11971788
Sablet Investments Limited
|
|
Notes to the Financial Statements
|
|
Year ended 30 June 2022
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents income earned on investments held. Dividends are recognised in the period in which they are received. Interest is recognised on an accruals basis.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Investments
|
Other investments other than loans
|
|
£
|
Cost
|
|
At 1 July 2021
|
2,676,101
|
Additions
|
643,525
|
Disposals
|
(
894,498)
|
Revaluations
|
(
250,690)
|
|
------------
|
At 30 June 2022
|
2,174,438
|
|
------------
|
Impairment
|
|
At 1 July 2021 and 30 June 2022
|
–
|
|
------------
|
|
|
Carrying amount
|
|
At 30 June 2022
|
2,174,438
|
|
------------
|
At 30 June 2021
|
2,676,101
|
|
------------
|
|
|
5.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Other creditors
|
2,243,670
|
2,527,890
|
|
------------
|
------------
|
|
|
|
6.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
|
2,174,438
|
2,767,101
|
|
------------
|
------------
|
|
|
|
7.
Prior period errors
The prior period error corrects the creditor position.
8.
Directors' advances, credits and guarantees
At the period end the company owed the directors £14,900 (2021: £14,900). The loan is interest free and repayable on demand.
9.
Related party transactions
Included within other creditors is a shareholder loan amounting to £2,221,450 (2021: restated £2,506,450). The loan is on interest free terms and is repayable on demand.