Company Registration No. 09380456 (England and Wales)
Sirocco Enterprise Ltd
Unaudited accounts
for the year ended 30 June 2023
Sirocco Enterprise Ltd
Unaudited accounts
Contents
Sirocco Enterprise Ltd
Company Information
for the year ended 30 June 2023
Directors
M I Monir
M Khalil
Company Number
09380456 (England and Wales)
Registered Office
Slough Business Park 94
Unit 18 New
Farnham Road
Slough
SL1 3FQ
England
Sirocco Enterprise Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
2,904,420
2,904,420
Cash at bank and in hand
36,950
21,148
Creditors: amounts falling due within one year
(661,682)
(1,084,258)
Net current liabilities
(613,775)
(766,824)
Total assets less current liabilities
2,290,645
2,137,596
Creditors: amounts falling due after more than one year
(1,934,131)
(1,811,953)
Provisions for liabilities
Deferred tax
(70,009)
(70,009)
Net assets
286,505
255,634
Called up share capital
2
2
Profit and loss account
286,503
255,632
Shareholders' funds
286,505
255,634
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2024 and were signed on its behalf by
M I Monir
Director
Company Registration No. 09380456
Sirocco Enterprise Ltd
Notes to the Accounts
for the year ended 30 June 2023
Sirocco Enterprise Ltd is a private company, limited by shares, registered in England and Wales, registration number 09380456. The registered office is Slough Business Park 94, Unit 18 New, Farnham Road, Slough, SL1 3FQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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.
Sirocco Enterprise Ltd
Notes to the Accounts
for the year ended 30 June 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Non-distributable reserve
Included within the total P&L reserve balance of £255,632 (2022: £301,991) are non-distributable profits of £298,457 (2022: £298,457).
4
Tangible fixed assets
Land & buildings
Amounts falling due within one year
Amounts due from group undertakings etc.
-
69,747
Accrued income and prepayments
1,457
10,780
Sirocco Enterprise Ltd
Notes to the Accounts
for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
105,345
89,262
Trade creditors
49,484
11,619
Amounts owed to group undertakings and other participating interests
230,944
444,515
Taxes and social security
3,127
2,835
Loans from directors
222,720
532,720
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,934,131
1,811,953
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Transactions with related parties
During the period the company charged rent and utilities of £39,840 (2022: £53,707) to Treatz Franchising Ltd, a sum of £nil (2022: £69,747) was due from Treatz Franchising Ltd, a company under the same control.
Included in creditors due within one year are the amounts of £155,944 (2022: £369,515) owed to Treatz Franchising Ltd, £50,000 (2022: £50,000) owed to Cafetreatz Ltd and £25,000 (2022: £25,000) owed to Cafetreatz Reading Ltd.
Included in creditors due within one year are the amounts of £136,360 (2022: £266,360) and £86,360 (2022: £266,360) owed to Mr M Khalil & Mr M I Monir respectively.
Both directors are regarded as controlling parties and as such there is no single ultimate controlling party for this and preceding period.
11
Average number of employees
During the year the average number of employees was 0 (2022: 0).