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REGISTERED NUMBER: 10335450 (England and Wales)



















SRK GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 51,525 67,575
Tangible assets 5 232,229 272,208
Investments 6 9,756 9,756
293,510 349,539

CURRENT ASSETS
Debtors 7 437,966 323,311
Cash at bank 12,936 13,614
450,902 336,925
CREDITORS
Amounts falling due within one year 8 165,300 166,786
NET CURRENT ASSETS 285,602 170,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

579,112

519,678

CREDITORS
Amounts falling due after more than one
year

9

388,941

531,096
NET ASSETS/(LIABILITIES) 190,171 (11,418 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 190,071 (11,518 )
190,171 (11,418 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)

BALANCE SHEET - continued
30 SEPTEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2024 and were signed on its behalf by:




L S Sohal - Director



S Khangura - Director


SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

SRK Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10335450

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY

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.

Preparation of consolidated financial statements
The financial statements contain information about SRK Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Franchise, being the amount paid in connection with the acquisition of each business, is being amortised evenly over is estimated useful life of 10 years.

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.
Short leasehold - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Going concern
The directors are of the opinion it is appropriate to prepare the accounts on a going concern basis. The company has continued to meet its obligations since the balance sheet date and the directors' have agreed adequate facilities with the company bankers and appropriate payment terms with all major creditors. The directors' have also pledged their continued support for the foreseeable future.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
£   
COST
At 1 October 2022
and 30 September 2023 150,500
AMORTISATION
At 1 October 2022 82,925
Amortisation for year 16,050
At 30 September 2023 98,975
NET BOOK VALUE
At 30 September 2023 51,525
At 30 September 2022 67,575

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022 3,436 506,448 13,462 523,346
Additions - 11,356 565 11,921
At 30 September 2023 3,436 517,804 14,027 535,267
DEPRECIATION
At 1 October 2022 1,805 236,178 13,155 251,138
Charge for year 343 51,374 183 51,900
At 30 September 2023 2,148 287,552 13,338 303,038
NET BOOK VALUE
At 30 September 2023 1,288 230,252 689 232,229
At 30 September 2022 1,631 270,270 307 272,208

SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and
fittings
£   
COST
At 1 October 2022
and 30 September 2023 124,769
DEPRECIATION
At 1 October 2022 57,186
Charge for year 12,477
At 30 September 2023 69,663
NET BOOK VALUE
At 30 September 2023 55,106
At 30 September 2022 67,583

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 October 2022
and 30 September 2023 9,756
NET BOOK VALUE
At 30 September 2023 9,756
At 30 September 2022 9,756

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 12,297 12,384

Amounts falling due after more than one year:
Amounts owed by group undertakings 321,014 307,427
Other debtors 104,655 3,500
425,669 310,927

Aggregate amounts 437,966 323,311

SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 34,007 33,152
Hire purchase contracts - 9,398
Trade creditors 46,645 42,164
Taxation and social security 10,436 7,750
Other creditors 74,212 74,322
165,300 166,786

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 40,150 75,010
Other creditors 348,791 456,086
388,941 531,096

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase - 9,398
Bank loans 33,427 62,034
33,427 71,432

SRK GROUP LIMITED (REGISTERED NUMBER: 10335450)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11. RELATED PARTY DISCLOSURES

ACCA Land Limited
A company in which Mr L S Sohal is a director and indirect shareholder.

The amount owing from the related party is £104,655 (2022: £3,500).

There were recharges received from related party in the year totalling £100,000 (2022: £100,000).

This loan is unsecured, there is no interest payable and there are no repayment terms.

WFF (York) Group Limited
A company in which Mr L S Sohal is a director and indirect shareholder.

The amount due to the related party is £75,000 (2022: £75,000).

This loan is unsecured, there is no interest payable and there are no repayment terms.

Larentia Land Limited
A company in which Mr L S Sohal and Mr S Khangura are joint directors and indirect shareholders.

The amount due to the related party is £131,500 (2022: £126,500).

This loan is unsecured, there is no interest payable and there are no repayment terms.

Larentia Capital Limited
A company in which Mr S Khangura is a joint director and shareholder.

The amount due to the related party is £5,926 (2022: £5,926).

This loan is unsecured, there is no interest payable and there are no repayment terms.