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REGISTERED NUMBER: 07422918 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st October 2023

for

Sanric Ltd

Sanric Ltd (Registered number: 07422918)






Contents of the Financial Statements
for the Year Ended 31st October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Sanric Ltd (Registered number: 07422918)

Balance Sheet
31st October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,061 2,761

CURRENT ASSETS
Debtors 5 50,414 46,331
Cash at bank 412,152 351,550
462,566 397,881
CREDITORS
Amounts falling due within one year 6 26,541 23,504
NET CURRENT ASSETS 436,025 374,377
TOTAL ASSETS LESS CURRENT
LIABILITIES

438,086

377,138

PROVISIONS FOR LIABILITIES 406 525
NET ASSETS 437,680 376,613

CAPITAL AND RESERVES
Called up share capital 7 102 102
Retained earnings 437,578 376,511
SHAREHOLDERS' FUNDS 437,680 376,613

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th July 2024 and were signed on its behalf by:





Dr R D Keogan - Director


Sanric Ltd (Registered number: 07422918)

Notes to the Financial Statements
for the Year Ended 31st October 2023

1. COMPANY INFORMATION

Sanric Ltd 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: 07422918

Registered office: The Lexicon
Mount Street
Manchester
M2 5NT

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.

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Computer Equipment - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Sanric Ltd (Registered number: 07422918)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st November 2022 7,497
Additions 618
At 31st October 2023 8,115
DEPRECIATION
At 1st November 2022 4,736
Charge for year 1,318
At 31st October 2023 6,054
NET BOOK VALUE
At 31st October 2023 2,061
At 31st October 2022 2,761

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 50,414 46,331

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Corporation tax payable 21,853 19,058
Directors' current accounts 4,688 4,446
26,541 23,504

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
60 Ordinary A £1 60 60
40 Ordinary B £1 40 40
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
102 102

Sanric Ltd (Registered number: 07422918)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

7. CALLED UP SHARE CAPITAL - continued

The Ordinary A shares confer on the holder the right to vote upon any resolution proposed at any general meeting of the company.

The Ordinary B shares do not confer on the holder the right to vote upon any resolution proposed at any general meeting of the company.

The Ordinary A and Ordinary B shares rank pari passu in respect of dividend and capital distribution rights.

Ordinary C and Ordinary D shares have no voting or distribution rights. Each share has a right to dividends at the discretion of the A and B shareholders.

All shares classes rank equally in terms of capital distribution rights.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.10.23 31.10.22
£    £   
Dr R D Keogan and Mrs S Keogan
Balance outstanding at start of year (4,445 ) (4,771 )
Amounts advanced 19,776 1,503
Amounts repaid (20,018 ) (1,177 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,687 ) (4,445 )

The loan is repayable on demand and no interest was charged during the year.

9. CONTROL

The ultimate controlling party is Dr R Keogan by virtue of his 100% holding of the voting share capital.