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Registration number: 04033945

SAHL International Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

SAHL International Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

 

SAHL International Ltd

Company Information

Director

Mr David James Hulme

Company secretary

Mrs Brenda Clarke

Registered office

12 Vauze Avenue
Blackrod
Bolton
Greater Manchester
BL6 5TS

Accountants

ESA Accountancy Limited t/a AIMS
1 Chapel & Vestrey
Vownog Road
Sychdyn
Mold
Flintshire
CH7 6ED

 

SAHL International Ltd

Director's Report for the Year Ended 31 July 2023

The director presents his report and the financial statements for the year ended 31 July 2023.

Director of the company

The director who held office during the year was as follows:

Mr David James Hulme

Principal activity

The principal activity of the company is Installation of industrial machinery & equipment.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 7 November 2023
 

.........................................
Mr David James Hulme
Director

 

Chartered Management Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SAHL International Ltd
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SAHL International Ltd for the year ended 31 July 2023 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements. These are based on the principals approved by IFAC.

This report is made solely to the Board of Directors of SAHL International Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SAHL International Ltd and state those matters that we have agreed to state to the Board of Directors of SAHL International Ltd, as a body, in this report in accordance with the rules laid down by CIMA. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAHL International Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SAHL International Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SAHL International Ltd. You consider that SAHL International Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SAHL International Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

ESA Accountancy Limited t/a AIMS
1 Chapel & Vestrey
Vownog Road
Sychdyn
Mold
Flintshire
CH7 6ED

7 November 2023

 

SAHL International Ltd

Profit and Loss Account for the Year Ended 31 July 2023

Note

2023
£

2022
£

Turnover

 

911,451

745,815

Cost of sales

 

(385,408)

(447,461)

Gross profit

 

526,043

298,354

Administrative expenses

 

(412,136)

(246,311)

Operating profit

 

113,907

52,043

Interest payable and similar expenses

 

(20,509)

20,241

Profit before tax

4

93,398

72,284

Tax on profit

 

(18,829)

(14,294)

Profit for the financial year

 

74,569

57,990

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

SAHL International Ltd

Statement of Comprehensive Income for the Year Ended 31 July 2023

2023
£

2022
£

Profit for the year

74,569

57,990

Total comprehensive income for the year

74,569

57,990

 

SAHL International Ltd

(Registration number: 04033945)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

118,022

118,151

Current assets

 

Stocks

6

47,019

49,012

Debtors

7

6,331

37,516

Cash at bank and in hand

 

397,943

279,377

 

451,293

365,905

Creditors: Amounts falling due within one year

8

(24,984)

(14,294)

Net current assets

 

426,309

351,611

Net assets

 

544,331

469,762

Capital and reserves

 

Called up share capital

9

12

12

Retained earnings

544,319

469,750

Shareholders' funds

 

544,331

469,762

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 7 November 2023
 

.........................................
Mr David James Hulme
Director

 

SAHL International Ltd

Statement of Changes in Equity for the Year Ended 31 July 2023

Share capital
£

Retained earnings
£

Total
£

At 1 August 2022

12

469,750

469,762

Profit for the year

-

74,569

74,569

At 31 July 2023

12

544,319

544,331

Share capital
£

Retained earnings
£

Total
£

At 1 August 2021

12

411,760

411,772

Profit for the year

-

57,990

57,990

At 31 July 2022

12

469,750

469,762

 

SAHL International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
12 Vauze Avenue
Blackrod
Bolton
Greater Manchester
BL6 5TS

These financial statements were authorised for issue by the director on 7 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

SAHL International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & buildings

Nil

Plant & machinery

33% on cost

Motor vehicles

25% on cost

Office equipment

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

SAHL International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,615

2,948

 

SAHL International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

116,202

33,898

47,446

197,546

Additions

-

1,485

-

1,485

At 31 July 2023

116,202

35,383

47,446

199,031

Depreciation

At 1 August 2022

-

32,691

46,704

79,395

Charge for the year

-

872

742

1,614

At 31 July 2023

-

33,563

47,446

81,009

Carrying amount

At 31 July 2023

116,202

1,820

-

118,022

At 31 July 2022

116,202

1,207

742

118,151

Included within the net book value of land and buildings above is £116,202 (2022 - £116,202) in respect of freehold land and buildings.
 

6

Stocks

2023
£

2022
£

Other inventories

47,019

49,012

7

Debtors

Current

2023
£

2022
£

Trade debtors

5,106

36,556

Other debtors

1,225

960

 

6,331

37,516

 

SAHL International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

6,270

-

Taxation and social security

18,714

14,294

24,984

14,294

Creditors: amounts falling due after more than one year

2023
£

2022
£

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

Ordinary A of £1 each

2

2

2

2

 

12

12

12

12

10

Dividends

   

2023

 

2022

   

£

 

£

         

11

Related party transactions

 

SAHL International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

229,180

125,500