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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021 |
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SAE-TECH LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021 |
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FOR |
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SAE-TECH LIMITED |
SAE-TECH LIMITED (REGISTERED NUMBER: 03669634) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 November 2021 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SAE-TECH LIMITED |
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COMPANY INFORMATION |
For The Year Ended 30 November 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
1 Carnegie Road |
Newbury |
Berkshire |
RG14 5DJ |
SAE-TECH LIMITED (REGISTERED NUMBER: 03669634) |
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ABRIDGED BALANCE SHEET |
30 November 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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SAE-TECH LIMITED (REGISTERED NUMBER: 03669634) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 November 2021 |
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1. | STATUTORY INFORMATION |
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Sae-tech Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03669634 and its registered office address is Unit 6, The Old Farm Buildings, Standen Manor Estate, Hungerford, Berkshire, RG17 0RB. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Overall risk to operations |
In common with many other companies, the outbreak of COVID-19 in the UK and the measures being taken to control its spread, have had an impact on the business with a drop in sales. The company has made use of the furlough scheme throughout the year. The company has still managed to remain profitable and the impact is therefore not considered to have been significant. |
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Following the year end, there have been no substantial developments that would affect the company's ability to trade profitably. The Company has therefore determined that there are no post balance sheet events and accordingly, the financial position as at, and results of the operations for, the year ended 30 November 2021 have not been adjusted to reflect their impact. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
SAE-TECH LIMITED (REGISTERED NUMBER: 03669634) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Government grants |
During the year the company was entitled to receive government grants under the Coronavirus Job Retention Scheme (CJRS). The revenue receipt is accounted for in the financial statements on the accrual basis over the same period as the related staff costs for which it compensates. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 December 2020 |
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Additions |
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Disposals | ( |
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At 30 November 2021 |
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DEPRECIATION |
At 1 December 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 November 2021 |
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NET BOOK VALUE |
At 30 November 2021 |
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At 30 November 2020 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | 1 |
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6. | OTHER FINANCIAL COMMITMENTS |
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At 30 November 2021, the company had total commitments under non-cancellable operating leases over the remaining life of those lease of £2,400 (2020 £6,000). |
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7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 November 2021 and 30 November 2020: |
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2021 | 2020 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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