Company Registration No. 11764218 (England and Wales)
SRA PRODUCTS LTD
Unaudited accounts
for the year ended 31 January 2023
SRA PRODUCTS LTD
Unaudited accounts
Contents
SRA PRODUCTS LTD
Company Information
for the year ended 31 January 2023
Directors
Steven Raymond Alday
Raymond Charles Alday
Gemma Dodd
Company Number
11764218 (England and Wales)
Registered Office
175A PARK ROAD
HARTLEPOOL
TS26 9JA
UNITED KINGDOM
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
SRA PRODUCTS LTD
Statement of financial position
as at 31 January 2023
Tangible assets
6,357
6,634
Inventories
166,392
115,250
Cash at bank and in hand
86,469
56,189
Creditors: amounts falling due within one year
(212,232)
(125,403)
Net current assets
111,303
46,030
Total assets less current liabilities
117,660
52,664
Creditors: amounts falling due after more than one year
(35,185)
(46,296)
Called up share capital
100
100
Profit and loss account
82,375
6,268
Shareholders' funds
82,475
6,368
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by
Steven Raymond Alday
Director
Company Registration No. 11764218
SRA PRODUCTS LTD
Notes to the Accounts
for the year ended 31 January 2023
SRA PRODUCTS LTD is a private company, limited by shares, registered in England and Wales, registration number 11764218. The registered office is 175A PARK ROAD, HARTLEPOOL, TS26 9JA, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
£277 Depreciation charged each year
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date
to the total estimated contract costs.
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
SRA PRODUCTS LTD
Notes to the Accounts
for the year ended 31 January 2023
5
Tangible fixed assets
Plant & machinery
Investments in subsidiaries, associates and joint ventures are measured at cost less any
accumulated impairment losses. Listed investments are measured at fair value. Unlisted
investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Amounts falling due within one year
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,556
-
Trade creditors
84,271
23,064
Taxes and social security
17,871
(341)
Loans from directors
78,628
106,101
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognized at transaction price net of any transaction costs and subsequently measured at amortized cost determined using the effective interest method.
SRA PRODUCTS LTD
Notes to the Accounts
for the year ended 31 January 2023
9
Creditors: amounts falling due after more than one year
2023
2022
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation
at the reporting date as a result of a past event, it is probable that economic benefit will be
transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Contributions to defined contribution plans are expensed in the period to which they relate
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors current account
(106,101)
29,201
1,728
(78,628)
(106,101)
29,201
1,728
(78,628)
13
Average number of employees
During the year the average number of employees was 3 (2022: 2).