Registered number
05710668
SAK Construction Limited
Filleted Accounts
28 February 2023
SAK Construction Limited
Registered number: 05710668
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 35,970 47,961
Current assets
Debtors 4 119,727 251,293
Cash at bank and in hand 364,293 247,621
484,020 498,914
Creditors: amounts falling due within one year 5 (116,307) (249,964)
Net current assets 367,713 248,950
Total assets less current liabilities 403,683 296,911
Creditors: amounts falling due after more than one year 6 (29,912) (33,333)
Net assets 373,771 263,578
Capital and reserves
Called up share capital 50 50
Capital redemption reserve 7 50 50
Profit and loss account 373,671 263,478
Shareholders' funds 373,771 263,578
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 Raghbir Singh
Director
Approved by the board on 7 November 2023
SAK Construction Limited
Notes to the Accounts
for the year ended 28 February 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 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.
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:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
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), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
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.
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 4 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 46,356 84,296 130,652
At 28 February 2023 46,356 84,296 130,652
Depreciation
At 1 March 2022 45,334 37,357 82,691
Charge for the year 256 11,735 11,991
At 28 February 2023 45,590 49,092 94,682
Net book value
At 28 February 2023 766 35,204 35,970
At 28 February 2022 1,022 46,939 47,961
4 Debtors 2023 2022
£ £
Trade debtors - 103,410
Other debtors 119,727 147,883
119,727 251,293
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 16,100 10,000
Trade creditors 32,565 157,558
Loans from directors 36,360 55,775
Taxation and social security costs 30,898 12,832
Other creditors 384 13,799
116,307 249,964
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,912 33,333
7 Capital redemption reserve 2023 2022
£ £
At 1 March 2022 50 50
At 28 February 2023 50 50
8 Other information
SAK Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
Sakho Farmhouse
43 Thong Lane
Shorne
Kent
DA12 4AD
SAK Construction Limited 05710668 false 2022-03-01 2023-02-28 2023-02-28 VT Final Accounts October 2023 release 2 Mr Raghbir Singh No description of principal activity 05710668 2021-03-01 2022-02-28 05710668 core:WithinOneYear 2022-02-28 05710668 core:AfterOneYear 2022-02-28 05710668 core:ShareCapital 2022-02-28 05710668 core:OtherReservesSubtotal 2022-02-28 05710668 core:RetainedEarningsAccumulatedLosses 2022-02-28 05710668 core:RevaluationReserve 2021-02-28 05710668 2022-03-01 2023-02-28 05710668 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 05710668 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 05710668 bus:Director40 2022-03-01 2023-02-28 05710668 1 2022-03-01 2023-02-28 05710668 2 2022-03-01 2023-02-28 05710668 core:PlantMachinery 2022-03-01 2023-02-28 05710668 core:Vehicles 2022-03-01 2023-02-28 05710668 countries:England 2022-03-01 2023-02-28 05710668 bus:FRS102 2022-03-01 2023-02-28 05710668 bus:FullAccounts 2022-03-01 2023-02-28 05710668 2023-02-28 05710668 core:WithinOneYear 2023-02-28 05710668 core:AfterOneYear 2023-02-28 05710668 core:ShareCapital 2023-02-28 05710668 core:OtherReservesSubtotal 2023-02-28 05710668 core:RetainedEarningsAccumulatedLosses 2023-02-28 05710668 core:PlantMachinery 2023-02-28 05710668 core:Vehicles 2023-02-28 05710668 core:RevaluationReserve 2023-02-28 05710668 2022-02-28 05710668 core:PlantMachinery 2022-02-28 05710668 core:Vehicles 2022-02-28 05710668 core:RevaluationReserve 2022-02-28 iso4217:GBP xbrli:pure