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Registered number: 07329452
Sahara Promotions Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Augustus & Co
Chartered Certified Accountants
374 Ley Street
Ilford
Essex
IG1 4AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07329452
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,618 35,630
29,618 35,630
CURRENT ASSETS
Debtors 5 522,500 -
Cash at bank and in hand 104,496 393,036
626,996 393,036
Creditors: Amounts Falling Due Within One Year 6 (272,516 ) (174,023 )
NET CURRENT ASSETS (LIABILITIES) 354,480 219,013
TOTAL ASSETS LESS CURRENT LIABILITIES 384,098 254,643
Creditors: Amounts Falling Due After More Than One Year 7 (331,463 ) (139,839 )
NET ASSETS 52,635 114,804
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 52,535 114,704
SHAREHOLDERS' FUNDS 52,635 114,804
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Sylvia N Luttaya
Director
29 July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sahara Promotions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07329452 . The registered office is 374 Ley Street, Ilford, Essex, IG1 4AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 10% straight line
Fixtures & Fittings 25% straight line
2.4. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 18 19
18 19
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Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2022 29,716 145,719 175,435
Additions - 1,648 1,648
As at 31 July 2023 29,716 147,367 177,083
Depreciation
As at 1 August 2022 8,916 130,889 139,805
Provided during the period 2,971 4,689 7,660
As at 31 July 2023 11,887 135,578 147,465
Net Book Value
As at 31 July 2023 17,829 11,789 29,618
As at 1 August 2022 20,800 14,830 35,630
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 522,500 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 43,302 38,473
Bank loans and overdrafts 147,163 46,844
Corporation tax 1,488 33,173
Other taxes and social security 77,379 49,657
Accruals and deferred income 1,119 2,441
Director's loan account 2,065 3,435
272,516 174,023
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 331,463 139,839
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4