Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 09682457 Mr Babar khan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09682457 2022-07-31 09682457 2023-07-31 09682457 2022-08-01 2023-07-31 09682457 frs-core:CurrentFinancialInstruments 2023-07-31 09682457 frs-core:Non-currentFinancialInstruments 2023-07-31 09682457 frs-core:FurnitureFittings 2023-07-31 09682457 frs-core:FurnitureFittings 2022-08-01 2023-07-31 09682457 frs-core:FurnitureFittings 2022-07-31 09682457 frs-core:ShareCapital 2023-07-31 09682457 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 09682457 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09682457 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 09682457 frs-bus:SmallEntities 2022-08-01 2023-07-31 09682457 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 09682457 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09682457 frs-bus:Director1 2022-08-01 2023-07-31 09682457 frs-countries:EnglandWales 2022-08-01 2023-07-31 09682457 2021-07-31 09682457 2022-07-31 09682457 2021-08-01 2022-07-31 09682457 frs-core:CurrentFinancialInstruments 2022-07-31 09682457 frs-core:Non-currentFinancialInstruments 2022-07-31 09682457 frs-core:ShareCapital 2022-07-31 09682457 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 09682457
Sitara Trading Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09682457
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,623 2,029
1,623 2,029
CURRENT ASSETS
Stocks 5 74,260 82,541
Debtors 6 58,124 34,061
Cash at bank and in hand 19 256
132,403 116,858
Creditors: Amounts Falling Due Within One Year 7 (116,796 ) (80,414 )
NET CURRENT ASSETS (LIABILITIES) 15,607 36,444
TOTAL ASSETS LESS CURRENT LIABILITIES 17,230 38,473
Creditors: Amounts Falling Due After More Than One Year 8 (73,517 ) (71,809 )
NET LIABILITIES (56,287 ) (33,336 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (56,288 ) (33,337 )
SHAREHOLDERS' FUNDS (56,287) (33,336)
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 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
Mr Babar khan
Director
21/08/2024
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
Sitara Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09682457 . The registered office is 39 Britnall Avenue, Manchester, England, M12 4PQ.
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:
Fixtures & Fittings 20%
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2022 6,010
As at 31 July 2023 6,010
Depreciation
As at 1 August 2022 3,981
Provided during the period 406
As at 31 July 2023 4,387
Net Book Value
As at 31 July 2023 1,623
As at 1 August 2022 2,029
Page 3
Page 4
5. Stocks
2023 2022
£ £
Stock 74,260 82,541
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 47,162 23,317
Other debtors 10,962 10,744
58,124 34,061
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 42,484 7,144
Other creditors 72,022 70,980
Taxation and social security 2,290 2,290
116,796 80,414
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 73,517 71,809
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4