Silverfin false false 31/12/2023 01/01/2023 31/12/2023 H L Chamberlain 01/12/2023 B M Sanders 11/11/2020 12 September 2024 The principal activity of the Company during the financial year was consulting and delivery of Japanese food. 13010610 2023-12-31 13010610 bus:Director1 2023-12-31 13010610 bus:Director2 2023-12-31 13010610 2022-12-31 13010610 core:CurrentFinancialInstruments 2023-12-31 13010610 core:CurrentFinancialInstruments 2022-12-31 13010610 core:ShareCapital 2023-12-31 13010610 core:ShareCapital 2022-12-31 13010610 core:RetainedEarningsAccumulatedLosses 2023-12-31 13010610 core:RetainedEarningsAccumulatedLosses 2022-12-31 13010610 core:PlantMachinery 2022-12-31 13010610 core:OfficeEquipment 2022-12-31 13010610 core:PlantMachinery 2023-12-31 13010610 core:OfficeEquipment 2023-12-31 13010610 2023-01-01 2023-12-31 13010610 bus:FilletedAccounts 2023-01-01 2023-12-31 13010610 bus:SmallEntities 2023-01-01 2023-12-31 13010610 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13010610 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13010610 bus:Director1 2023-01-01 2023-12-31 13010610 bus:Director2 2023-01-01 2023-12-31 13010610 core:PlantMachinery 2023-01-01 2023-12-31 13010610 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 13010610 2022-01-01 2022-12-31 13010610 core:OfficeEquipment 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 13010610 (England and Wales)

SAKAI & ARENAS LTD

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

SAKAI & ARENAS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SAKAI & ARENAS LTD

BALANCE SHEET

As at 31 December 2023
SAKAI & ARENAS LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,110 3,313
2,110 3,313
Current assets
Debtors 4 398,097 285,491
Cash at bank and in hand 32,180 55,789
430,277 341,280
Creditors: amounts falling due within one year 5 ( 157,309) ( 116,130)
Net current assets 272,968 225,150
Total assets less current liabilities 275,078 228,463
Net assets 275,078 228,463
Capital and reserves
Called-up share capital 1 1
Profit and loss account 275,077 228,462
Total shareholder's funds 275,078 228,463

For the financial year ending 31 December 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 Sakai & Arenas Ltd (registered number: 13010610) were approved and authorised for issue by the Board of Directors on 12 September 2024. They were signed on its behalf by:

B M Sanders
Director
SAKAI & ARENAS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SAKAI & ARENAS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Sakai & Arenas Ltd (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 60 Oxford Gardens, London, W10 5UN, England, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities

Taxation

Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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:

Plant and machinery 35 % reducing balance
Office equipment 3 years straight line

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.

Trade and other debtors

Trade and other debtors are amounts due from customers for services performed in the ordinary course of business.

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade and other creditors

Trade and other creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months are the reporting date they are represented as non-current liabilities.

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 January 2023 736 4,020 4,756
Additions 0 292 292
At 31 December 2023 736 4,312 5,048
Accumulated depreciation
At 01 January 2023 307 1,136 1,443
Charge for the financial year 107 1,388 1,495
At 31 December 2023 414 2,524 2,938
Net book value
At 31 December 2023 322 1,788 2,110
At 31 December 2022 429 2,884 3,313

4. Debtors

2023 2022
£ £
Trade debtors 0 5,142
Other debtors 398,097 280,349
398,097 285,491

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 193 380
Taxation and social security 65,002 110,306
Other creditors 92,114 5,444
157,309 116,130

6. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Director's Loan Account 344,249 230,326

During the year the company made advances totalling £539,087 (2022 - £470,644) and received repayments totalling £425,164 (2022 - £271,254) . The loan from the director to the company is unsecured, interest free and repayable on demand.