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REGISTERED NUMBER: 01494551 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MARG SAT SANTOKH MANUFACTURERS LIMITED

MARG SAT SANTOKH MANUFACTURERS LIMITED (REGISTERED NUMBER: 01494551)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARG SAT SANTOKH MANUFACTURERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Bhai Sahib Ahluwalia KSG, OBE
Mr Parminder Singh Jhutti
Mr Jaswinderpal Singh Chandan
Mr Sucha Singh
Mr Jarnail Singh Bhinder





SECRETARY: Mr Sucha Singh





REGISTERED OFFICE: 28 Soho Road
Handsworth
Birmingham
West Midlands
B21 9BJ





REGISTERED NUMBER: 01494551 (England and Wales)






MARG SAT SANTOKH MANUFACTURERS LIMITED (REGISTERED NUMBER: 01494551)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 724,692 745,101
Investment property 4 849,528 679,588
1,574,220 1,424,689

CURRENT ASSETS
Stocks 161,708 156,582
Debtors 5 23,991 41,950
Cash at bank 667,632 543,609
853,331 742,141
CREDITORS
Amounts falling due within one year 6 417,513 306,254
NET CURRENT ASSETS 435,818 435,887
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,010,038

1,860,576

CREDITORS
Amounts falling due after more than one
year

7

(17,138

)

-

PROVISIONS FOR LIABILITIES (138,076 ) (105,478 )
NET ASSETS 1,854,824 1,755,098

CAPITAL AND RESERVES
Called up share capital 90,000 90,000
Retained earnings 1,764,824 1,665,098
SHAREHOLDERS' FUNDS 1,854,824 1,755,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

MARG SAT SANTOKH MANUFACTURERS LIMITED (REGISTERED NUMBER: 01494551)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:





Bhai Sahib Ahluwalia KSG, OBE - Director


MARG SAT SANTOKH MANUFACTURERS LIMITED (REGISTERED NUMBER: 01494551)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Income is recognised on despatch of goods or on delivery of a service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance

Investment property
Investment property is included at fair value. Gains or losses are recognised in the Income Statement. Deferred taxation is provided on these gains at the rates expected to apply when the property is sold. Any fair value gains in the Income statement are carried forward net of applicable deferred tax in a non distributable fair value reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is defined as the initial purchase price of parts and raw materials, including import duties, handling costs and delivery, together with directs costs of production - labour and consumables, together with an estimated overhead allocation to the labour costs incurred.
Net realisable value is the estimated proceeds from the sale of items of stock, less all further costs to be incurred in marketing, selling and distributing the items in question.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MARG SAT SANTOKH MANUFACTURERS LIMITED (REGISTERED NUMBER: 01494551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 771,291 441,810 169,143
Additions - 31,488 15,542
Disposals - (2,909 ) (1,965 )
At 31 March 2023 771,291 470,389 182,720
DEPRECIATION
At 1 April 2022 235,380 374,766 82,042
Charge for year 9,546 16,338 26,503
Eliminated on disposal - (2,646 ) (1,486 )
At 31 March 2023 244,926 388,458 107,059
NET BOOK VALUE
At 31 March 2023 526,365 81,931 75,661
At 31 March 2022 535,911 67,044 87,101

MARG SAT SANTOKH MANUFACTURERS LIMITED (REGISTERED NUMBER: 01494551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 79,215 21,710 1,483,169
Additions - 739 47,769
Disposals - (4,770 ) (9,644 )
At 31 March 2023 79,215 17,679 1,521,294
DEPRECIATION
At 1 April 2022 26,918 18,962 738,068
Charge for year 13,074 1,975 67,436
Eliminated on disposal - (4,770 ) (8,902 )
At 31 March 2023 39,992 16,167 796,602
NET BOOK VALUE
At 31 March 2023 39,223 1,512 724,692
At 31 March 2022 52,297 2,748 745,101

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 17,500
DEPRECIATION
At 1 April 2022 10,929
Charge for year 1,314
At 31 March 2023 12,243
NET BOOK VALUE
At 31 March 2023 5,257
At 31 March 2022 6,571

MARG SAT SANTOKH MANUFACTURERS LIMITED (REGISTERED NUMBER: 01494551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 679,588
Additions 169,940
At 31 March 2023 849,528
NET BOOK VALUE
At 31 March 2023 849,528
At 31 March 2022 679,588

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 849,528

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 212,213 212,213

The investment property was valued on an open market basis on 31 March 2022 by by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,991 41,950

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,848 1,860
Trade creditors 243,392 209,357
Taxation and social security 60,093 10,642
Other creditors 109,180 84,395
417,513 306,254

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 17,138 -