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Registered number: 03039799
Surab Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03039799
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 42,828 30,581
42,828 30,581
CURRENT ASSETS
5 6,400 5,800
Debtors 6 43,500 24,675
Cash at bank and in hand 55,071 56,720
104,971 87,195
Creditors: Amounts Falling Due Within One Year 7 (100,332 ) (80,791 )
NET CURRENT ASSETS (LIABILITIES) 4,639 6,404
TOTAL ASSETS LESS CURRENT LIABILITIES 47,467 36,985
Creditors: Amounts Falling Due After More Than One Year 8 (11,112 ) (20,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,349 ) (6,340 )
NET ASSETS 25,006 9,812
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 24,906 9,712
SHAREHOLDERS' FUNDS 25,006 9,812
Page 1
Page 2
For the year ending 30 April 2024 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 his 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
Graham Cooke
Director
14/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Surab Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03039799 . The registered office is Unit C Old Rifle Range Farm , Risborough Road, Great Kimble, Aylesbury, HP17 0XS.
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.
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:
Leasehold Nil
Plant & Machinery reducing balance - 25%
Motor Vehicles reducing balance - 25%
Fixtures & Fittings reducing balance - 25%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 May 2023 2,712 14,974 116,445 44,068 178,199
Additions - 2,369 25,795 534 28,698
Disposals - - (37,563 ) - (37,563 )
As at 30 April 2024 2,712 17,343 104,677 44,602 169,334
Depreciation
As at 1 May 2023 - 11,979 95,024 40,615 147,618
Provided during the period - 1,343 11,038 1,002 13,383
Disposals - - (34,495 ) - (34,495 )
As at 30 April 2024 - 13,322 71,567 41,617 126,506
Net Book Value
As at 30 April 2024 2,712 4,021 33,110 2,985 42,828
As at 1 May 2023 2,712 2,995 21,421 3,453 30,581
5.
2024 2023
£ £
Finished goods 6,400 5,800
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,930 6,891
Prepayments and accrued income 29,070 14,284
Rent deposit 3,500 3,500
43,500 24,675
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,564 -
Trade creditors 29,716 19,220
Bank loans and overdrafts 10,000 10,000
Corporation tax 16,581 10,302
Other taxes and social security 2,736 2,624
VAT 19,026 17,786
Commercial card 1,446 1,578
Accruals and deferred income 5,563 5,581
Amounts owed to associates 13,700 13,700
100,332 80,791
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 279 -
Bank loans 10,833 20,833
11,112 20,833
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,564 -
Later than one year and not later than five years 279 -
1,843 -
1,843 -
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
11. Related Party Transactions
The director Graham Cooke, is the majority shareholder in H & E Project Management Limited. Surab Limited owed H & E Project Management Limited £13,700 at the balance sheet date (£13,700 - 2023).
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