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REGISTERED NUMBER: 10821149 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 14TH DECEMBER 2023

FOR

SS GLOBAL MERCHANTS LIMITED

SS GLOBAL MERCHANTS LIMITED (REGISTERED NUMBER: 10821149)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 14TH DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SS GLOBAL MERCHANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 14TH DECEMBER 2023







DIRECTOR: Mr S Purohit





SECRETARY: Mr A Ashok Kumar





REGISTERED OFFICE: Suite 437, 4th Floor
Davis House
69-77 High Street
Croydon
Surrey
CR0 1QQ





REGISTERED NUMBER: 10821149 (England and Wales)





AUDITORS: PSJ Alexander & Co
Chartered Accountants & Statutory Auditors
1 Doughty Street
London
WC1N 2PH

SS GLOBAL MERCHANTS LIMITED (REGISTERED NUMBER: 10821149)

BALANCE SHEET
14TH DECEMBER 2023

2023 2022
Notes $    $    $    $   
FIXED ASSETS
Tangible assets 4 3,606 1,938

CURRENT ASSETS
Stocks 54,202 35,440
Debtors 5 933,376 437,000
Cash at bank 64,390 34,079
1,051,968 506,519
CREDITORS
Amounts falling due within one year 6 690,408 202,528
NET CURRENT ASSETS 361,560 303,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,166

305,929

CAPITAL AND RESERVES
Called up share capital 7 12,615 12,615
Retained earnings 352,551 293,314
SHAREHOLDERS' FUNDS 365,166 305,929

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8th January 2025 and were signed by:





Mr S Purohit - Director


SS GLOBAL MERCHANTS LIMITED (REGISTERED NUMBER: 10821149)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 14TH DECEMBER 2023


1. STATUTORY INFORMATION

SS Global Merchants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The Company has two sources of income:

a. Sale of GoodsRevenue for sale of goods is recognised when the significant risks and rewards of the
ownership have been transferred to the buyer, there is no continuous involvement with the
goods, and the amount of revenue can be measured reliably. Transfer of risks and rewards
varies depending on the individual terms of the contract of sale, including the delivery
conditions agreed with the customers. Revenue is recorded net of trade promotion and
discounts, which is recognised as incurred, generally at the time of sale.

b. Profit sharing incomeThe Company earns a share of profit made on the sale of certain products by a financier to
customers. The share of profit is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
The presentation currency is USD ($).

Assets and liabilities in foreign currencies are translated into US dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

SS GLOBAL MERCHANTS LIMITED (REGISTERED NUMBER: 10821149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 14TH DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The Board of directors has assessed the going concern risks to the Company and has concluded that:
- the company has been able to retain its customer base and has received sufficient contracts from them.
- the company has favourable credit terms from its main supplier, a related party.
- based on the financial forecasts, the Company can meet its liabilities as they fall due over the next twelve months
from the date of approval of these financial statements.

Based on these indications, the Board of directors believes that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
$   
COST
At 15th December 2022 2,456
Additions 2,839
At 14th December 2023 5,295
DEPRECIATION
At 15th December 2022 518
Charge for year 1,171
At 14th December 2023 1,689
NET BOOK VALUE
At 14th December 2023 3,606
At 14th December 2022 1,938

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
$    $   
Trade debtors 614,465 363,358
Other debtors 318,911 73,642
933,376 437,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
$    $   
Trade creditors 266,210 137,283
Taxation and social security 26,036 17,452
Other creditors 398,162 47,793
690,408 202,528

SS GLOBAL MERCHANTS LIMITED (REGISTERED NUMBER: 10821149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 14TH DECEMBER 2023


7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: $    $   
10,100 Ordinary £1 12,615 12,615

The entire share capital is unpaid.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Vimal Shah (Senior Statutory Auditor)
for and on behalf of PSJ Alexander & Co

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 14th December 2023 and 14th December 2022:

2023 2022
$    $   
Mr S Purohit
Balance outstanding at start of year - -
Amounts advanced 8,097 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,097 -

10. RELATED PARTY DISCLOSURES

During the year, the company undertook the following transactions with Shiv Mondial Trading House DMCC, which has common director and shareholder:
2023 2022
$    $   
- Management charges paid to related party - 70,000
- Purchases from related party, including freight 12,477,419 17,722,055
- Sales to related party - 264,387
- Amounts due from related party at the year end 444,645 302,209
The Company acquires forward contracts on behalf of Shiv Mondial Trading House DMCC and the gains and losses arising from these forward contracts belong to the related party. There were no open forward contracts as at year-end (2022: $Nil).

During the year, the company also undertook the following transactions with 3D Trade Limited, a company wholly owned by the spouse of a key employee/officer of the Company:

2023 2022
$    $   
- Commission receivable from related party 189,323 -
- Purchases from related party - 761,010
- Commission payable to related party 220,875 -
- Advance received from related party 99,991 -
- Amounts due (to)/from related parties at the year end (98,082 ) 9,960

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Purohit.