Company Registration No. 08672776 (England and Wales)
ST LISAJ LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021
PAGES FOR FILING WITH REGISTRAR
ST LISAJ LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
ST LISAJ LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2021
28 February 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
34,606
45,575
Investments
5
107
77
34,713
45,652
Current assets
Debtors
8
105,946
109,912
Cash at bank and in hand
21,059
26,933
127,005
136,845
Creditors: amounts falling due within one year
9
(37,494)
(50,480)
Net current assets
89,511
86,365
Total assets less current liabilities
124,224
132,017
Creditors: amounts falling due after more than one year
10
(47,500)
(42,847)
Net assets
76,724
89,170
Capital and reserves
Called up share capital
12
100
100
Profit and loss reserves
76,624
89,070
Total equity
76,724
89,170
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 28 February 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.
ST LISAJ LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2021
28 February 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 February 2022 and are signed on its behalf by:
I M Fitzpatrick
Director
Company Registration No. 08672776
ST LISAJ LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 March 2019
100
(7,111)
(7,011)
Year ended 28 February 2020:
Profit and total comprehensive income for the year
-
105,181
105,181
Dividends
-
(9,000)
(9,000)
Balance at 28 February 2020
100
89,070
89,170
Year ended 28 February 2021:
Profit and total comprehensive income for the year
-
10,554
10,554
Dividends
-
(23,000)
(23,000)
Balance at 28 February 2021
100
76,624
76,724
ST LISAJ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 4 -
1
Accounting policies
Company information
St Lisaj Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered
office and business
address
is
Suite 4, 123 Stratford Road, Shirley, Solihull, B90 3ND.
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
pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The
financial statements
present information about the company as an individual entity and not about its group
. In addition, any transactions with group members have not been disclosed as related party transactions.
1.2
Going concern
The directors haven given due consideration to the business and the impact of the COVID-19 viral pandemic on the ability to continue to trade; and is mindful that this is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the company's trade, customers, suppliers and wider economy. However, due to the service nature of the business, type of clients and the ability to move with ease to home working, the anticipated impact is not considered to change the trade position.
true
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Hence
the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.4
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:
Computer equipment
33% Reducing balance
Motor vehicles
25% Reducing balance
ST LISAJ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments
Interests in subsidiaries
and
associates 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
.
1.6
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss.
1.7
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include cash in hand
.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments
.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
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
.
1.11
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
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
Leases
, including lease purchase and hire purchase,
are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
ST LISAJ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 6 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant
effect on amounts recognised in the financial statements.
Other debtors recoverability
Included in other debtors as material balances with connected companies. The directors have reviewed these balances and given due consideration to the need for any impairment, and based on the current position considers no further provision is required.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
4
ST LISAJ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 7 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 29 February 2020
92,525
Additions
673
At 28 February 2021
93,198
Depreciation and impairment
At 29 February 2020
46,950
Depreciation charged in the year
11,642
At 28 February 2021
58,592
Carrying amount
At 28 February 2021
34,606
At 28 February 2020
45,575
5
Shares in associates and group undertakings
2021
2020
£
£
Investments
107
77
Movements in shares in associates and group undertakings
Shares in group undertakings
£
Cost or valuation
At 29 February 2020
77
Additions
31
Disposals
(1)
At 28 February 2021
107
Carrying amount
At 28 February 2021
107
At 28 February 2020
77
6
Subsidiaries
Details of the company's subsidiaries at 28 February 2021 are as follows:
ST LISAJ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
6
Subsidiaries
(Continued)
- 8 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Employee Retention Services Limited
England and Wales
Ordinary
50.00
-
Grey Eclipse Holdings Limited
England and Wales
Ordinary
50.00
-
Grey Eclipse Limited
England and Wales
Ordinary
-
50.00
Grey Eclipse Support Limited
England and Wales
Ordinary
-
50.00
7
Associates
Details of the company's associates at 28 February 2021 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Total Recall Business Services Limited
England and Wales
Ordinary
30.00
Maltby Services Limited
England and Wales
Ordinary
45.00
Ripley Associates Limited
England and Wales
Ordinary
30.00
8
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
105,946
109,912
Included in other debtors are amounts which may not be recovered within one year of £
66,240
(2020 - £
55,317
).
9
Creditors: amounts falling due within one year
2021
2020
£
£
Taxation and social security
6,012
6,496
Other creditors
31,482
43,984
37,494
50,480
The aggregate amount of other creditors, for which security has been given amounted to £
nil
(2020 - £9,600).
ST LISAJ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 9 -
10
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
47,500
-
Obligations under finance leases
-
42,847
47,500
42,847
The aggregate amount of creditors for which security has been given amounted to £
nil
(2020 - £
42,847
).
ST LISAJ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 10 -
11
Deferred taxation
Deferred tax is not recognised in respect of
a net estimated
deferred tax asset
of
£
51,978
(2020 - £
50,970
)
as it is not probable that th
is
will be recovered
in the next twelve months.
12
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 10p each
10
10
1
1
Ordinary B shares of £1 each
99
99
99
99
109
109
100
100
13
Related party transactions
Transactions with related parties
Other information
Included in debtors, is £
42,817
(2020 - £
42,817
) owed to the company by Blackstar Golf Limited, a company connected by the director I M Fitzatrick. There are no formal terms and conditions attached to the advance, and the amount may not be recoverable within one year.
14
Director's transactions
Included in creditors due within one year, is an amount of £
22,106
(2020 - £
29,458
) owed to I M Fitzpatrick, director.
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false
17 February 2022
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