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REGISTERED NUMBER: SC411042 (Scotland)




















SARAFIN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






SARAFIN LIMITED (REGISTERED NUMBER: SC411042)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

SARAFIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs H Hannah
Dr C A Hannah





REGISTERED OFFICE: 1875 Great Western Road
Glasgow
G13 2YD





REGISTERED NUMBER: SC411042 (Scotland)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

SARAFIN LIMITED (REGISTERED NUMBER: SC411042)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 73,015 84,736
73,015 84,736

CURRENT ASSETS
Stocks 4,429 3,489
Debtors 6 38,939 35,795
Cash at bank and in hand 647,905 534,893
691,273 574,177
CREDITORS
Amounts falling due within one year 7 79,197 46,871
NET CURRENT ASSETS 612,076 527,306
TOTAL ASSETS LESS CURRENT
LIABILITIES

685,091

612,042

PROVISIONS FOR LIABILITIES 8 15,152 14,577
NET ASSETS 669,939 597,465

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 669,839 597,365
SHAREHOLDERS' FUNDS 669,939 597,465

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





Dr C A Hannah - Director


SARAFIN LIMITED (REGISTERED NUMBER: SC411042)

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

1. STATUTORY INFORMATION

Sarafin Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - 5% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

3. EMPLOYEES AND DIRECTORS

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

SARAFIN LIMITED (REGISTERED NUMBER: SC411042)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 328,956
AMORTISATION
At 1 December 2022
and 30 November 2023 328,956
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 December 2022 10,251 167,947 10,834 189,032
Additions - - 899 899
At 30 November 2023 10,251 167,947 11,733 189,931
DEPRECIATION
At 1 December 2022 4,101 94,546 5,649 104,296
Charge for year 513 11,010 1,097 12,620
At 30 November 2023 4,614 105,556 6,746 116,916
NET BOOK VALUE
At 30 November 2023 5,637 62,391 4,987 73,015
At 30 November 2022 6,150 73,401 5,185 84,736

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,667 4,182
Other debtors 3,775 4,875
Directors' current accounts 32,497 26,738
38,939 35,795

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,193 2,956
Corporation tax 69,849 36,626
Other creditors 2,754 3,813
Accrued charges 3,401 3,476
79,197 46,871

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 15,152 14,577

SARAFIN LIMITED (REGISTERED NUMBER: SC411042)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2022 14,577
Charge to Income Statement during year 575
Balance at 30 November 2023 15,152

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 December 2022 597,365
Profit for the year 221,674
Dividends (149,200 )
At 30 November 2023 669,839

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Dr C A Hannah and Mrs H Hannah
Balance outstanding at start of year 26,738 -
Amounts advanced 199,676 170,871
Amounts repaid (193,917 ) (144,133 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,497 26,738

Interest of 2.5% per annum has been charged on the loan account. The loan is unsecured and has no fixed terms of repayment.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £149,200 (2022 - £80,000) were paid to the directors .

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SARAFIN LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sarafin Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Sarafin Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sarafin Limited and state those matters that we have agreed to state to the Board of Directors of Sarafin Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sarafin Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sarafin Limited. You consider that Sarafin Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sarafin Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


16 August 2024