Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Mr Rajendrakumar Patel 06/08/2004 Mr Sanjay Patel 06/08/2004 Mr Sarju Patel 06/08/2004 22 August 2024 The principal activity of the company during the year continued to be suppliers of vegetarian food. 05199779 2023-08-31 05199779 bus:Director1 2023-08-31 05199779 bus:Director2 2023-08-31 05199779 bus:Director3 2023-08-31 05199779 2022-08-31 05199779 core:CurrentFinancialInstruments 2023-08-31 05199779 core:CurrentFinancialInstruments 2022-08-31 05199779 core:Non-currentFinancialInstruments 2023-08-31 05199779 core:Non-currentFinancialInstruments 2022-08-31 05199779 core:ShareCapital 2023-08-31 05199779 core:ShareCapital 2022-08-31 05199779 core:RetainedEarningsAccumulatedLosses 2023-08-31 05199779 core:RetainedEarningsAccumulatedLosses 2022-08-31 05199779 core:Vehicles 2022-08-31 05199779 core:OfficeEquipment 2022-08-31 05199779 core:Vehicles 2023-08-31 05199779 core:OfficeEquipment 2023-08-31 05199779 bus:OrdinaryShareClass1 2023-08-31 05199779 bus:OrdinaryShareClass2 2023-08-31 05199779 bus:OrdinaryShareClass3 2023-08-31 05199779 bus:OrdinaryShareClass4 2023-08-31 05199779 2022-09-01 2023-08-31 05199779 bus:FilletedAccounts 2022-09-01 2023-08-31 05199779 bus:SmallEntities 2022-09-01 2023-08-31 05199779 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05199779 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05199779 bus:Director1 2022-09-01 2023-08-31 05199779 bus:Director2 2022-09-01 2023-08-31 05199779 bus:Director3 2022-09-01 2023-08-31 05199779 core:Vehicles 2022-09-01 2023-08-31 05199779 core:OfficeEquipment 2022-09-01 2023-08-31 05199779 2021-09-01 2022-08-31 05199779 core:Non-currentFinancialInstruments 2022-09-01 2023-08-31 05199779 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 05199779 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 05199779 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 05199779 bus:OrdinaryShareClass2 2021-09-01 2022-08-31 05199779 bus:OrdinaryShareClass3 2022-09-01 2023-08-31 05199779 bus:OrdinaryShareClass3 2021-09-01 2022-08-31 05199779 bus:OrdinaryShareClass4 2022-09-01 2023-08-31 05199779 bus:OrdinaryShareClass4 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05199779 (England and Wales)

SAVERA FOODS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

SAVERA FOODS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

SAVERA FOODS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2023
SAVERA FOODS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 68,482 60,784
68,482 60,784
Current assets
Stocks 4 3,500 3,750
Debtors 5 637,762 602,388
Cash at bank and in hand 6 114,157 147,480
755,419 753,618
Creditors: amounts falling due within one year 7 ( 257,030) ( 264,021)
Net current assets 498,389 489,597
Total assets less current liabilities 566,871 550,381
Creditors: amounts falling due after more than one year 8 ( 176,450) ( 176,450)
Net assets 390,421 373,931
Capital and reserves
Called-up share capital 9 30 30
Profit and loss account 390,391 373,901
Total shareholders' funds 390,421 373,931

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Savera Foods Limited (registered number: 05199779) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Mr Rajendrakumar Patel
Director

22 August 2024

SAVERA FOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
SAVERA FOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Savera Foods Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 6 6

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 September 2022 47,635 300,500 348,135
Additions 18,600 3,686 22,286
At 31 August 2023 66,235 304,186 370,421
Accumulated depreciation
At 01 September 2022 12,017 275,334 287,351
Charge for the financial year 8,984 5,604 14,588
At 31 August 2023 21,001 280,938 301,939
Net book value
At 31 August 2023 45,234 23,248 68,482
At 31 August 2022 35,618 25,166 60,784

4. Stocks

2023 2022
£ £
Stocks 3,500 3,750

5. Debtors

2023 2022
£ £
Trade debtors 11,153 54,019
Other debtors 626,609 548,369
637,762 602,388

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 114,157 147,480

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 11,890 13,554
Taxation and social security 245 8,854
Other creditors 244,895 241,613
257,030 264,021

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 176,450 176,450

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
27 Ordinary shares of £ 1.00 each 27 27
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
1 Ordinary C share of £ 1.00 1 1
30 30