Registered number
SC480790
SARWAR ENTERPRISE LIMITED
Filleted Accounts
31 March 2024
SARWAR ENTERPRISE LIMITED
Registered number: SC480790
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 18,334 20,371
Current assets
Stocks 38,891 30,472
Debtors 4 538 680
Cash at bank and in hand 109,009 113,745
148,438 144,897
Creditors: amounts falling due within one year 5 (31,575) (44,038)
Net current assets 116,863 100,859
Total assets less current liabilities 135,197 121,230
Creditors: amounts falling due after more than one year 6 (1,333) (2,814)
Net assets 133,864 118,416
Capital and reserves
Called up share capital 100 100
Profit and loss account 133,764 118,316
Shareholders' funds 133,864 118,416
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Mohammad Sarwar
Director
Approved by the board on 1 October 2024
SARWAR ENTERPRISE LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% Reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Fixture & fttings
£
Cost
At 1 April 2023 37,743
At 31 March 2024 37,743
Depreciation
At 1 April 2023 17,372
Charge for the year 2,037
At 31 March 2024 19,409
Net book value
At 31 March 2024 18,334
At 31 March 2023 20,371
4 Debtors 2024 2023
£ £
Other debtors 538 680
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 12,330
Taxation and social security costs 27,649 28,373
Other creditors 3,926 3,335
31,575 44,038
6 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan account 1,333 2,814
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