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REGISTERED NUMBER: 12501596 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SAK ELECTRICAL LTD

SAK ELECTRICAL LTD (REGISTERED NUMBER: 12501596)

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


SAK ELECTRICAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D J King
F Somers





REGISTERED OFFICE: 3 Hoppers Way
Ashford
Kent
TN23 4GP





REGISTERED NUMBER: 12501596 (England and Wales)






SAK ELECTRICAL LTD (REGISTERED NUMBER: 12501596)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,824 33,278

CURRENT ASSETS
Stocks 6,250 1,850
Debtors 5 15,563 3,795
Cash at bank and in hand 7,663 8,804
29,476 14,449
CREDITORS
Amounts falling due within one year 6 33,297 42,134
NET CURRENT LIABILITIES (3,821 ) (27,685 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,003

5,593

CREDITORS
Amounts falling due after more than one year 7 (14,126 ) -

PROVISIONS FOR LIABILITIES 8 (2,743 ) (4,611 )
NET ASSETS 1,134 982

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,034 882
SHAREHOLDERS' FUNDS 1,134 982

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.

SAK ELECTRICAL LTD (REGISTERED NUMBER: 12501596)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





F Somers - Director


SAK ELECTRICAL LTD (REGISTERED NUMBER: 12501596)

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


1. STATUTORY INFORMATION

Sak Electrical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

SAK ELECTRICAL LTD (REGISTERED NUMBER: 12501596)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 41,836
Additions 359
Disposals (4,799 )
At 31 March 2023 37,396
DEPRECIATION
At 1 April 2022 8,558
Charge for year 7,014
At 31 March 2023 15,572
NET BOOK VALUE
At 31 March 2023 21,824
At 31 March 2022 33,278

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 4,321 3,206
Other debtors 11,242 589
15,563 3,795

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 4,396 22,401
Trade creditors 6,708 1,634
Taxation and social security 12,316 3,426
Other creditors 9,877 14,673
33,297 42,134

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 14,126 -

SAK ELECTRICAL LTD (REGISTERED NUMBER: 12501596)

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


8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 2,743 4,611

Deferred
tax
£   
Balance at 1 April 2022 4,611
Provided during year (1,868 )
Balance at 31 March 2023 2,743

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
D J King
Balance outstanding at start of year - -
Amounts advanced 3,920 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,920 -

F Somers
Balance outstanding at start of year - -
Amounts advanced 3,920 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,920 -

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £35,000 (2022 - £34,000) were paid to the directors .

Mr D King and Mr F Somers - Directors and Shareholders

At the balance sheet date the directors owed SAK Electrical Ltd £7,840 (2022 - The company owed the directors £14,173).