Registered number
SC454282
S&R RAZZAQ LTD
190 Main Street
Blantyre
Glasgow
Filleted Accounts
for the year ended 31 March 2023
Yousaf & Co Ltd
Chartered Certified Accountants
Registered Auditors
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: S454/TG
S&R RAZZAQ LTD
Registered number: SC454282
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 246,216 265,603
Current assets
Stocks 282,432 244,277
Debtors 4 17,305 13,654
Cash at bank and in hand 11,600 18,386
311,337 276,317
Creditors: amounts falling due within one year 5 (118,194) (100,878)
Net current assets 193,143 175,439
Total assets less current liabilities 439,359 441,042
Creditors: amounts falling due after more than one year 6 (454,659) (460,227)
Net assets / (liabilities) (15,300) (19,185)
Capital and reserves
Called up share capital 100 100
Profit and loss account (15,400) (19,285)
Shareholder's funds (15,300) (19,185)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Shahid Razzaq
Director
Approved by the board on 2 October 2023
S&R RAZZAQ LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
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).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price)
.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 23
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 April 2022 394,846
Additions 7,970
At 31 March 2023 402,816
Depreciation
At 1 April 2022 129,243
Charge for the year 27,357
At 31 March 2023 156,600
Net book value
At 31 March 2023 246,216
At 31 March 2022 265,603
4 Debtors 2023 2022
£ £
Other debtors 17,305 13,654
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other loans 50,000 35,000
Trade creditors 49,593 44,986
Taxation and social security costs 11,612 18,150
Other creditors 6,989 2,742
118,194 100,878
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 31,667 41,667
Director's loan account 422,992 418,560
454,659 460,227
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