1 February 2022 false No description of principal activity Taxfiler 2023.9.1 SC617908business:PrivateLimitedCompanyLtd2022-02-012023-01-31 SC6179082022-01-31 SC6179082022-02-012023-01-31 SC617908business:AuditExemptWithAccountantsReport2022-02-012023-01-31 SC617908business:FilletedAccounts2022-02-012023-01-31 SC6179082023-01-31 SC617908business:Director12022-02-012023-01-31 SC617908business:RegisteredOffice2022-02-012023-01-31 SC6179082022-01-31 SC617908core:WithinOneYear2023-01-31 SC617908core:WithinOneYear2022-01-31 SC617908core:AfterOneYear2023-01-31 SC617908core:AfterOneYear2022-01-31 SC617908core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 SC617908core:ShareCapitalcore:PreviouslyStatedAmount2022-01-31 SC617908core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 SC617908core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-01-31 SC617908core:PreviouslyStatedAmount2023-01-31 SC617908core:PreviouslyStatedAmount2022-01-31 SC617908business:SmallEntities2022-02-012023-01-31 SC617908countries:Scotland2022-02-012023-01-31 SC617908core:ComputerEquipment2022-02-012023-01-31 SC617908core:ComputerEquipment2022-01-31 SC617908core:ComputerEquipment2023-01-31 SC6179082021-02-012022-01-31 iso4217:GBP xbrli:pure
Company Registration No. SC617908 (Scotland)
S SADIQ FINANCIAL LTD Unaudited accounts for the year ended 31 January 2023
S SADIQ FINANCIAL LTD Unaudited accounts Contents
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S SADIQ FINANCIAL LTD Company Information for the year ended 31 January 2023
Director
Saqib Assam Sadiq
Company Number
SC617908 (Scotland)
Registered Office
90 FERNLEA BEARSDEN GLASGOW EAST DUNBARTONSHIRE G61 1NB SCOTLAND
Accountants
AMS Accounting Services Ltd Chartered Certified Accountants 7 Callanish Crescent Newton Mearns Glasgow United Kingdom G77 5WT
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S SADIQ FINANCIAL LTD Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
604 
711 
Current assets
Debtors
41,800 
47,800 
Cash at bank and in hand
607 
587 
42,407 
48,387 
Creditors: amounts falling due within one year
(260)
(250)
Net current assets
42,147 
48,137 
Total assets less current liabilities
42,751 
48,848 
Creditors: amounts falling due after more than one year
(44,865)
(49,566)
Net liabilities
(2,114)
(718)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(2,115)
(719)
Shareholders' funds
(2,114)
(718)
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 director acknowledges his 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 and authorised for issue on 13 October 2023 and were signed on its behalf by
Saqib Assam Sadiq Director Company Registration No. SC617908
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S SADIQ FINANCIAL LTD Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
S SADIQ FINANCIAL LTD is a private company, limited by shares, registered in Scotland, registration number SC617908. The registered office is 90 FERNLEA, BEARSDEN, GLASGOW, EAST DUNBARTONSHIRE, G61 1NB, SCOTLAND.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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:
Computer equipment
15% on reducing balance
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.
Bounce Back Loans
Under this scheme, business can access finance to maximum amount of £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months, the interest is capped at 2.5% per year.
Government grants
Government grants in relation to COVID-19 which becomes receivable as compensation for losses or expenses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs is recognised in income in the period in which it becomes receivable.
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S SADIQ FINANCIAL LTD Notes to the Accounts for the year ended 31 January 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 February 2022
1,159 
At 31 January 2023
1,159 
Depreciation
At 1 February 2022
448 
Charge for the year
107 
At 31 January 2023
555 
Net book value
At 31 January 2023
604 
At 31 January 2022
711 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Other debtors
41,800 
47,800 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Accruals
260 
250 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
42,670 
48,611 
Loans from directors
2,195 
955 
44,865 
49,566 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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