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Registered number: 08790332
Saj Engineering Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
In-Touch Business Solutions Ltd
ACCA
In-Touch Business Solutions Ltd Jhumat House
04, Orchard Drive
Grays
Essex
RM17 5AF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08790332
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,089 81,158
27,089 81,158
CURRENT ASSETS
Debtors 5 14,007 47,309
Cash at bank and in hand 2,393 50,942
16,400 98,251
Creditors: Amounts Falling Due Within One Year 6 (33,593 ) (81,061 )
NET CURRENT ASSETS (LIABILITIES) (17,193 ) 17,190
TOTAL ASSETS LESS CURRENT LIABILITIES 9,896 98,348
Creditors: Amounts Falling Due After More Than One Year 7 (24,412 ) (34,296 )
NET (LIABILITIES)/ASSETS (14,516 ) 64,052
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (14,518 ) 64,050
SHAREHOLDERS' FUNDS (14,516) 64,052
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Page 2
For the year ending 30 November 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sajee Mudiyanselage
Director
03/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Saj Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08790332 . The registered office is Office 506, Jhumat House, 160, London Road, Barking, IG11 8BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Motor Vehicles 20% Straight Line
Computer Equipment 25% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
Sales, marketing and distribution 4 5
5 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 128,542 221,519 19,741 369,802
Additions 33,742 - 2,664 36,406
As at 30 November 2023 162,284 221,519 22,405 406,208
Depreciation
As at 1 December 2022 144,880 124,022 19,742 288,644
Provided during the period 40,521 44,303 5,651 90,475
As at 30 November 2023 185,401 168,325 25,393 379,119
Net Book Value
As at 30 November 2023 (23,117 ) 53,194 (2,988 ) 27,089
As at 1 December 2022 (16,338 ) 97,497 (1 ) 81,158
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,463 33,319
Other taxes and social security 12,544 13,990
14,007 47,309
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,470 4,634
Corporation tax (6,528 ) (6,528 )
VAT 3,144 13,293
Directors' loan accounts 34,507 69,662
33,593 81,061
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 24,412 34,296
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Dividends
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