Company Registration No. 12378838 (England and Wales)
SARIS-UK LTD
Unaudited accounts
for the year ended 31 December 2023
SARIS-UK LTD
Unaudited accounts
Contents
SARIS-UK LTD
Company Information
for the year ended 31 December 2023
Directors
Ivailo Zamfirov
Vasil Petrov
Company Number
12378838 (England and Wales)
Registered Office
54 Sydney Road
Sutton
Surrey
SM1 2QL
England
Accountants
Nikolay Atanasov, Shubraka Opportunities Limited
43 Berkeley Square
4th floor
London
W1J 5FJ
SARIS-UK LTD
Statement of financial position
as at 31 December 2023
Tangible assets
70,807
105,317
Inventories
332,272
426,259
Cash at bank and in hand
126,835
255,261
Creditors: amounts falling due within one year
(1,117,144)
(1,241,357)
Net current assets/(liabilities)
50,110
(357,550)
Total assets less current liabilities
120,917
(252,233)
Creditors: amounts falling due after more than one year
(82,533)
(109,020)
Net assets/(liabilities)
38,384
(361,253)
Called up share capital
100
100
Profit and loss account
38,284
(361,353)
Shareholders' funds
38,384
(361,253)
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 20 September 2024 and were signed on its behalf by
Ivailo Zamfirov
Director
Company Registration No. 12378838
SARIS-UK LTD
Notes to the Accounts
for the year ended 31 December 2023
SARIS-UK LTD is a private company, limited by shares, registered in England and Wales, registration number 12378838. The registered office is 54 Sydney Road, Sutton, Surrey, SM1 2QL, 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.
After reviewing the company’s forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is also measured net of the estimated value of customer returns and volume rebates. 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.
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:
Plant & machinery
five years straight line
Motor vehicles
33% on a reducing balance basis
Fixtures & fittings
five years straight line
Computer equipment
three years straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
SARIS-UK LTD
Notes to the Accounts
for the year ended 31 December 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.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
27,196
82,003
11,235
9,437
129,871
At 31 December 2023
27,470
82,003
11,235
9,437
130,145
At 1 January 2023
4,526
11,979
1,685
6,364
24,554
Charge for the year
5,175
23,108
2,247
4,254
34,784
At 31 December 2023
9,701
35,087
3,932
10,618
59,338
At 31 December 2023
17,769
46,916
7,303
(1,181)
70,807
At 31 December 2022
22,670
70,024
9,550
3,073
105,317
Amounts falling due within one year
Trade debtors
497,385
104,924
Accrued income and prepayments
1,200
25,766
Other debtors
209,562
71,597
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
747,504
1,095,047
Taxes and social security
187,832
3,868
SARIS-UK LTD
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
56,968
73,878
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director loan
-
62,178
-
62,178
Advances totalling £62,178 at the end of the accounting period were made to the directors. All advances were unsecured, interest-free and repayable on demand. The loan was fully repaid on 20/09/2024.
9
Transactions with related parties
Turnover includes £1,257,134 sales to related parties (2022 - £437,947). Cost of sales include £2,884,461 purchases from related parties (2022 - £3,188,016).
The following balances with related parties were outstanding at year end:
- Trade creditors, unsecured, payable on demand - £724,283 (2022 - £1,062,561)
There are no provisions for uncollectible receivables and recognised expenses for bad debt linked to related parties (£2022 - £0)
10
Average number of employees
During the year the average number of employees was 6 (2022: 7).