Registered number
07849747
SKA1 Ltd
Filleted Accounts
30 November 2023
SKA1 Ltd
Registered number: 07849747
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 241,729 242,305
Current assets
Stocks 13,709 8,909
Cash at bank and in hand 1,970 11,408
15,679 20,317
Creditors: amounts falling due within one year 5 (376,903) (352,596)
Net current liabilities (361,224) (332,279)
Total assets less current liabilities (119,495) (89,974)
Creditors: amounts falling due after more than one year 6 (72,178) (96,101)
Net liabilities (191,673) (186,075)
Capital and reserves
Called up share capital 2 2
Profit and loss account (191,675) (186,077)
Shareholders' funds (191,673) (186,075)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Harbag Singh Atwal
Director
Approved by the board on 4 April 2024
SKA1 Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 70,000
At 30 November 2023 70,000
Amortisation
At 1 December 2022 70,000
At 30 November 2023 70,000
Net book value
At 30 November 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 240,000 26,417 266,417
At 30 November 2023 240,000 26,417 266,417
Depreciation
At 1 December 2022 - 24,112 24,112
Charge for the year - 576 576
At 30 November 2023 - 24,688 24,688
Net book value
At 30 November 2023 240,000 1,729 241,729
At 30 November 2022 240,000 2,305 242,305
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 41,817 41,817
Other taxes and social security costs 583 506
Other creditors 334,503 310,273
376,903 352,596
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 72,178 96,101
7 Other information
SKA1 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Newmans Road
Northfleet
Gravesend
Kent
DA11 7AX
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