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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
Page
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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
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SRA PRODUCTS LTD Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,357 
6,634 
Current assets
Inventories
166,392 
115,250 
Debtors
70,674 
(6)
Cash at bank and in hand
86,469 
56,189 
323,535 
171,433 
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)
Net assets
82,475 
6,368 
Capital and reserves
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
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SRA PRODUCTS LTD Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
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).
Presentation currency
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
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.
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SRA PRODUCTS LTD Notes to the Accounts for the year ended 31 January 2023
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 February 2022
7,465 
At 31 January 2023
7,465 
Depreciation
At 1 February 2022
831 
Charge for the year
277 
At 31 January 2023
1,108 
Net book value
At 31 January 2023
6,357 
At 31 January 2022
6,634 
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.
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
70,333 
(6)
Other debtors
341 
- 
70,674 
(6)
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,556 
- 
VAT
25,021 
(3,421)
Trade creditors
84,271 
23,064 
Taxes and social security
17,871 
(341)
Loans from directors
78,628 
106,101 
Accruals
885 
- 
212,232 
125,403 
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.
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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 
£ 
£ 
Bank loans
35,185 
46,296 
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.
11
Pension commitments
Contributions to defined contribution plans are expensed in the period to which they relate
12
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Steven Raymond Alday
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).
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