2022-03-012023-02-282023-02-28false13204401Sirah Solutions 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Sirah Solutions Limited

Registered Number
13204401
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

Sirah Solutions Limited
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

Harris, Richard George
Harris, Yvette Maria

Registered Address

Suite G04 1 Quality Court, Chancery Lane
London
WC2A 1HR

Registered Number

13204401 (England and Wales)
Sirah Solutions Limited
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,914-
Investment property4855,000-
856,914-
Current assets
Debtors5259,3104
Cash at bank and on hand43,718-
303,0284
Creditors amounts falling due within one year6(47,914)-
Net current assets (liabilities)255,1144
Total assets less current liabilities1,112,0284
Creditors amounts falling due after one year7(569,862)-
Net assets542,1664
Capital and reserves
Called up share capital44
Profit and loss account542,162-
Shareholders' funds9542,1664
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2024, and are signed on its behalf by:
Harris, Richard George
Director
Registered Company No. 13204401
Sirah Solutions Limited
Notes to the Financial Statements
for the year ended 28 February 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year10
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions1,9141,914
At 28 February 231,9141,914
Net book value
At 28 February 231,9141,914
At 28 February 22--
4.Investment property
The property was transferred into the company at a value of £313,000 in the year. At the year end, a market valuation revalued the property at £855,000.

£
Additions313,000
Fair value adjustments542,000
At 28 February 23855,000
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables4,202-
Other debtors255,1084
Total259,3104
6.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts21,000-
Taxation and social security25,814-
Accrued liabilities and deferred income1,100-
Total47,914-
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts569,862-
Total569,862-
8.Directors advances, credits and guarantees
Included in debtors is an overdrawn directors loan account of £255,108. This will be cleared within nine months of the year end.
9.Fair value reserve
Included in the Profit and Loss Reserves of the Balance Sheet are non-distributable reserves of £542,000.

£
Transferred in period542,000
At 28 February 23542,000