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REGISTERED NUMBER: SC486656 (Scotland)















Financial Statements for the Year Ended 31 December 2023

for

Sarkar Tactical Ltd

Sarkar Tactical Ltd (Registered number: SC486656)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sarkar Tactical Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P K Sood
S Sarkar



SECRETARY: P K Sood



REGISTERED OFFICE: 325 Renfrew Road
GLASGOW
G51 4SP



REGISTERED NUMBER: SC486656 (Scotland)



SENIOR STATUTORY
AUDITOR:
Craig M Fotheringham BSc CA



AUDITORS: The Kelvin Partnership Ltd
Statutory Auditor
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

Sarkar Tactical Ltd (Registered number: SC486656)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 159,723 192,518

CURRENT ASSETS
Stocks and WIP 5 732,882 155,643
Debtors 6 1,666,196 965,727
Cash at bank and in hand 209,424 430,834
2,608,502 1,552,204
CREDITORS
Amounts falling due within one year 7 829,703 369,455
NET CURRENT ASSETS 1,778,799 1,182,749
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,938,522

1,375,267

CREDITORS
Amounts falling due after more than one
year

8

(1,249,845

)

(751,891

)

PROVISIONS FOR LIABILITIES 11 (37,535 ) (36,301 )
NET ASSETS 651,142 587,075

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 650,842 586,775
651,142 587,075

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 22 August 2024 and were signed on its behalf by:





P K Sood - Director


Sarkar Tactical Ltd (Registered number: SC486656)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Sarkar Tactical Ltd 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.

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 United Kingdom and the Republic of Ireland and the Companies Act 2006

The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all periods presented.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both the current and future periods

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance

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

Sarkar Tactical Ltd (Registered number: SC486656)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all its financial instruments.

Financial instruments are recognized in the company's financial statements when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are only offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.


Sarkar Tactical Ltd (Registered number: SC486656)

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

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Hire purchase interest is charged to the profit and loss when each hire purchase payment is made.

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investment with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities.

Sarkar Tactical Ltd (Registered number: SC486656)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised where a legal or constructive obligation has been incurred which will probably lead to an outflow of resources that can be reasonably estimated. Provisions are recorded for the estimated ultimate liability that is expected to arise, taking into account the time value of money where material.

A contingent liability is disclosed where the existence of the obligation will only be confirmed by future events, or where the amount of the obligation cannot be measured with reasonable reliability. Contingent assets are not recognised but are disclosed where an inflow of economic benefits is probable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 41,117 278,235 9,099 35,564 364,015
Additions - 1,427 6,460 6,946 14,833
At 31 December 2023 41,117 279,662 15,559 42,510 378,848
DEPRECIATION
At 1 January 2023 39,658 117,535 5,446 8,858 171,497
Charge for year 1,459 32,425 2,528 11,216 47,628
At 31 December 2023 41,117 149,960 7,974 20,074 219,125
NET BOOK VALUE
At 31 December 2023 - 129,702 7,585 22,436 159,723
At 31 December 2022 1,459 160,700 3,653 26,706 192,518

5. STOCKS AND WIP
31.12.23 31.12.22
£    £   
Stocks and WIP 732,882 155,643

Sarkar Tactical Ltd (Registered number: SC486656)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 568,520 374,470
Amounts owed by group undertakings 1,046,499 541,649
Other debtors 51,177 49,608
1,666,196 965,727

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 60,823 47,429
Hire purchase contracts (see note 9) 23,885 23,885
Trade creditors 624,929 258,531
Taxation and social security 48,457 22,216
Other creditors 71,609 17,394
829,703 369,455

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 42,500 72,500
Hire purchase contracts (see note 9) 40,474 59,504
Other creditors 1,166,871 619,887
1,249,845 751,891

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 23,885 23,885
Between one and five years 40,474 59,504
64,359 83,389

Sarkar Tactical Ltd (Registered number: SC486656)

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

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 29,000 29,000
Between one and five years 58,000 87,000
87,000 116,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 30,823 17,429
Bank loans 72,500 102,500
Hire purchase contracts 64,359 83,389
167,682 203,318

Bank Loan and Overdraft Facility
Floating charge and a negative pledge over the assets of the company.

Hire Purchase
Hire purchase is secured over the assets it relates to.

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 37,535 36,301

Deferred
tax
£   
Balance at 1 January 2023 36,301
Provided during year 1,234
Balance at 31 December 2023 37,535

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig M Fotheringham BSc CA (Senior Statutory Auditor)
for and on behalf of The Kelvin Partnership Ltd

Sarkar Tactical Ltd (Registered number: SC486656)

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

13. CONTINGENT LIABILITIES

The company has a deposit of £41,740 held with the Bank of Scotland in relation to its sales contracts and the Bank of Scotland hold a bond over this sum.

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the 31 December 2023, the company owed P Sood a director in the company £162,873 (2022- £Nil)

At the 31 December 2023, the company owed S Sarkar a director in the company £41,010 (2022 - £Nil)

15. RELATED PARTY DISCLOSURES

At 31 December 2023, £500,000 (2022 - £150,000 ) was due to Trygort Limited, and is included in creditors. P Sood is a director in both companies.

Also at 31 December 2023 the company was owed £721,958 (2022 £444,599) from Sarkar Tactical Inc and £324,541 (2022 - £97,050) from Sarkar Brazil . All companies have common directors and are included in debtors.

16. ULTIMATE CONTROLLING PARTY

In the opinion of the director there is no ultimate controlling party.