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Company Registration No. SC087209 (Scotland)
Saraki (uk) Limited Unaudited accounts for the year ended 31 December 2023
Saraki (uk) Limited Unaudited accounts Contents
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Saraki (uk) Limited Company Information for the year ended 31 December 2023
Directors
Baljit Singh Sandhu Manasjit Singh Sandhu
Company Number
SC087209 (Scotland)
Registered Office
101 Centre Street Glasgow G5 8BU United Kingdom
Accountants
Kelly Tax Services Limited New Alderston House 3 Dove Wynd, Strathclyde Business Park Bellshill North Lanarkshire ML4 3FB
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Saraki (uk) Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,353 
1,592 
Current assets
Inventories
113,514 
69,070 
Debtors
65,417 
74,118 
Cash at bank and in hand
165,705 
170,484 
344,636 
313,672 
Creditors: amounts falling due within one year
(76,750)
(46,776)
Net current assets
267,886 
266,896 
Net assets
269,239 
268,488 
Capital and reserves
Called up share capital
196 
196 
Share premium
239,904 
239,904 
Profit and loss account
29,139 
28,388 
Shareholders' funds
269,239 
268,488 
For the 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. 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 12 September 2024 and were signed on its behalf by
Baljit Singh Sandhu Director Company Registration No. SC087209
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Saraki (uk) Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Saraki (uk) Limited is a private company, limited by shares, registered in Scotland, registration number SC087209. The registered office is 101 Centre Street, Glasgow, G5 8BU, United Kingdom.
2
Compliance with accounting standards
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
3
Accounting policies
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.
Presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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/or 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
Plant & machinery
15% RB
Inventories
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
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Saraki (uk) Limited Notes to the Accounts for the year ended 31 December 2023
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2023
8,148 
At 31 December 2023
8,148 
Depreciation
At 1 January 2023
6,556 
Charge for the year
239 
At 31 December 2023
6,795 
Net book value
At 31 December 2023
1,353 
At 31 December 2022
1,592 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
57,327 
70,047 
Accrued income and prepayments
1,788 
1,730 
Other debtors
6,302 
2,341 
65,417 
74,118 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
73,947 
42,780 
Taxes and social security
293 
639 
Other creditors
4 
- 
Accruals
2,506 
3,357 
76,750 
46,776 
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The Royal Bank of Scotland PLC holds a personal guarantee signed by a director over a private residence. The Royal Bank of Scotland PLC holds a floating charge over the assets of the company.
7
Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £250 (2022: £400). The contributions outstanding at the year end amounted to £4 (2022: Nil).
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Saraki (uk) Limited Notes to the Accounts for the year ended 31 December 2023
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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