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REGISTERED NUMBER: 10967228 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Sardonyx Ltd

Sardonyx Ltd (Registered number: 10967228)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sardonyx Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr O A Afonja
Mr T B Olaewe
Rev A L Adebiyi
Mr A Omotesho





SECRETARY: Mrs K O Afonja





REGISTERED OFFICE: 1st Floor
27 Shirwell Crescent
Furzton Lake
MILTON KEYNES
Buckinghamshire
MK4 1GA





REGISTERED NUMBER: 10967228 (England and Wales)





ACCOUNTANTS: Sherwoods Ltd
Chartered Certified Accountants
1st Floor
27 Shirwell Crescent
Furzton Lake
Milton Keynes
Buckinghamshire
MK4 1GA

Sardonyx Ltd (Registered number: 10967228)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £   
CURRENT ASSETS
Stocks - 210,084
Cash at bank 118,122 9,707
118,122 219,791
CREDITORS
Amounts falling due within one year 4 109,903 100,732
NET CURRENT ASSETS 8,219 119,059
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,219

119,059

CREDITORS
Amounts falling due after more than one
year

5

-

(137,915

)

ACCRUALS AND DEFERRED INCOME (929 ) (1,156 )
NET ASSETS/(LIABILITIES) 7,290 (20,012 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,190 (20,112 )
7,290 (20,012 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Sardonyx Ltd (Registered number: 10967228)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





Mr O A Afonja - Director


Sardonyx Ltd (Registered number: 10967228)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Sardonyx Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 10,003 832
Other creditors 99,900 99,900
109,903 100,732

Sardonyx Ltd (Registered number: 10967228)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 137,915

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 137,915

6. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Other loan - 137,915

The loan was secured against the property to which it related, and by a personal guarantee from all four directors. It was repaid in full during the period.