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REGISTERED NUMBER: 07350974 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

SAI Innovative Solutions Ltd

SAI Innovative Solutions Ltd (Registered number: 07350974)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SAI Innovative Solutions Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTOR: V S S Seelam





REGISTERED OFFICE: 124
City Road
London
Greater London
EC1V 2NX





REGISTERED NUMBER: 07350974 (England and Wales)





ACCOUNTANTS: Caroola Accountancy Limited
840 Ibis Court
Centre Park Square
Warrington
WA1 1RL

SAI Innovative Solutions Ltd (Registered number: 07350974)

Statement of Financial Position
31 August 2023

31/8/23 31/8/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,844 53,055
Investments 5 39,942 31,600
78,786 84,655

CURRENT ASSETS
Debtors 6 219,805 268,454
Cash at bank 19,058 13,644
238,863 282,098
CREDITORS
Amounts falling due within one year 7 15,351 30,592
NET CURRENT ASSETS 223,512 251,506
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,298

336,161

CREDITORS
Amounts falling due after more than one
year

8

62,605

76,925
NET ASSETS 239,693 259,236

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 36,115 27,772
Retained earnings 203,478 231,364
SHAREHOLDERS' FUNDS 239,693 259,236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SAI Innovative Solutions Ltd (Registered number: 07350974)

Statement of Financial Position - continued
31 August 2023


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 director and authorised for issue on 29 August 2024 and were signed by:





V S S Seelam - Director


SAI Innovative Solutions Ltd (Registered number: 07350974)

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

1. STATUTORY INFORMATION

SAI Innovative Solutions Ltd is a private company, limited by shares , registered in England and Wales. 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 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 as modified by the revaluation of certain assets.

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.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SAI Innovative Solutions Ltd (Registered number: 07350974)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 98,273
Disposals (958 )
At 31 August 2023 97,315
DEPRECIATION
At 1 September 2022 45,218
Charge for year 14,212
Eliminated on disposal (959 )
At 31 August 2023 58,471
NET BOOK VALUE
At 31 August 2023 38,844
At 31 August 2022 53,055

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 September 2022 31,600
Revaluations 8,342
At 31 August 2023 39,942
NET BOOK VALUE
At 31 August 2023 39,942
At 31 August 2022 31,600

Cost or valuation at 31 August 2023 is represented by:

Other
investments
£   
Valuation in 2017 2,741
Valuation in 2018 3,348
Valuation in 2019 4,782
Valuation in 2020 2,459
Valuation in 2021 46,867
Valuation in 2022 (32,425 )
Valuation in 2023 12,170
39,942

SAI Innovative Solutions Ltd (Registered number: 07350974)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Directors' current accounts 179,852 -
Directors' loan accounts - 204,446
Tax 39,352 61,662
Corporation tax repayable 601 699
Prepayments - 1,647
219,805 268,454

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Tesla Finance < 1 year 6,719 6,719
VAT 8,621 23,859
Accrued expenses 11 14
15,351 30,592

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/23 31/8/22
£    £   
Bank loans - 1-2 years 21,913 29,514
Tesla Finance 1-2 years 6,719 6,719
Tesla Finance 2-5 years 33,973 40,692
62,605 76,925

9. RESERVES
Revaluation
reserve
£   
At 1 September 2022 27,772
Revaluation Gains 8,343

At 31 August 2023 36,115

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31/8/23 31/8/22
£    £   
V S S Seelam
Balance outstanding at start of year 204,447 189,729
Amounts advanced - 20,680
Amounts repaid (28,639 ) (5,962 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 175,808 204,447

SAI Innovative Solutions Ltd (Registered number: 07350974)

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

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

The director's loan account was overdrawn by £175,808.10 at the year ended 31/08/2023. This loan is unsecured, interest bearing at 2% and 2.25% from April 2023, and has no set repayment terms.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is V S S Seelam.