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Registered Number: 08181869
England and Wales

 

 

 

SAI IT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
  2024   2023
    £ £   £ £
Fixed assets   1,991      1,228 
Current assets 8,153      19,506   
Creditors: amount falling due within one year 1      (2,518)  
Net current assets   8,154      16,988 
Total assets less current liabilities   10,145      18,216 
Creditors: amount falling due after more than one year   (14,972)     (16,763)
Net assets   (4,827)     1,453 
 

         
Capital and reserves   (4,827)     1,453 
 
NOTES TO THE ACCOUNTS

General Information
SAI IT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08181869, registration address Office Gold, Building 3, Chiswick Park, 566 Chiswick High Road, London, W4 5YA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25 Reducing Balance
Computer Equipment 25 Reducing Balance
2.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2023 1,688    1,928    3,616 
Additions   1,056    1,056 
Disposals    
At 31 March 2024 1,688    2,984    4,672 
Depreciation
At 01 April 2023 1,446    942    2,388 
Charge for year 61    232    293 
On disposals    
At 31 March 2024 1,507    1,174    2,681 
Net book values
Closing balance as at 31 March 2024 181    1,810    1,991 
Opening balance as at 01 April 2023 242    986    1,228 


3.

Average number of employees


Average number of employees during the year was 0 (2023 : 2).

4.

Ultimate Control

Mr. Chandra Mohan GADDAGUNTI is the company director and share holder who has significant control in the business.

For the year ended 31 March 2024 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.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 02 August 2024 and were signed by:


--------------------------------
Chandra Mohan Gaddagunti
Director
1