Registration number:
Sakin Holdings Ltd
for the
Year Ended 31 March 2024
Sakin Holdings Ltd
Company Information
Directors |
Mr Fakhruddin Taherally Suterwalla Mrs Sakina Fakhruddin Suterwalla |
Registered office |
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Accountants |
|
Sakin Holdings Ltd
(Registration number: 12365380)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|
Current assets |
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Debtors |
|
|
|
Investments |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
1,007,113 |
985,764 |
|
Shareholders' funds |
1,007,213 |
985,864 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Sakin Holdings Ltd
Statement of Changes in Equity for the Year Ended 31 March 2024
Share capital |
Retained earnings |
Total |
|
At 1 April 2023 |
|
|
|
Profit for the year |
- |
|
|
At 31 March 2024 |
|
|
|
Share capital |
Retained earnings |
Total |
|
At 1 April 2022 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 March 2023 |
100 |
985,764 |
985,864 |
Sakin Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises of interest receivable in the ordinary course of the company’s activities.
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.
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.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Sakin Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
|
|
Debtors |
Current |
2024 |
2023 |
Other debtors |
100 |
100 |
Accrued income |
140,858 |
117,686 |
|
|
Current asset investments |
2024 |
2023 |
|
Funds held by third party |
|
|
Sakin Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Corporation tax |
|
|
Accruals and deferred income |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Dividends |
2024 |
2023 |
|||
£ |
£ |
|||
Final dividend of £Nil (2023 - £ |
4,000,000 |
|||
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Income and receivables from related parties
2024 |
Entities with joint control or significant influence |
Amounts receivable from related party |
|
|
2023 |
Entities with joint control or significant influence |
Amounts receivable from related party |
|
|
Sakin Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Loans to related parties
2024 |
Entities with joint control or significant influence |
Total |
At start of period |
|
|
Interest transactions |
|
|
At end of period |
|
|
|
2023 |
Entities with joint control or significant influence |
Total |
At start of period |
|
|
Repaid |
( |
( |
Interest transactions |
|
|
At end of period |
|
|
|
Terms of loans to related parties