Sarach Steel Technologies Limited 11406389 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of management consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 11406389 2023-07-01 2024-06-30 11406389 2024-06-30 11406389 core:RetainedEarningsAccumulatedLosses 2024-06-30 11406389 core:ShareCapital 2024-06-30 11406389 core:CurrentFinancialInstruments 2024-06-30 11406389 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 11406389 core:FurnitureFittingsToolsEquipment 2024-06-30 11406389 bus:SmallEntities 2023-07-01 2024-06-30 11406389 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11406389 bus:FullAccounts 2023-07-01 2024-06-30 11406389 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11406389 bus:Director1 2023-07-01 2024-06-30 11406389 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11406389 core:ComputerEquipment 2023-07-01 2024-06-30 11406389 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 11406389 countries:AllCountries 2023-07-01 2024-06-30 11406389 core:FurnitureFittingsToolsEquipment 2023-06-30 11406389 2022-07-01 2023-06-30 11406389 2023-06-30 11406389 core:RetainedEarningsAccumulatedLosses 2023-06-30 11406389 core:ShareCapital 2023-06-30 11406389 core:CurrentFinancialInstruments 2023-06-30 11406389 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 11406389 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 11406389

Sarach Steel Technologies Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Sarach Steel Technologies Limited

(Registration number: 11406389)

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

3,935

5,247

Current assets

 

Debtors

4

8,550

21,353

Cash at bank and in hand

 

146,841

156,544

 

155,391

177,897

Creditors: Amounts falling due within one year

5

(10,252)

(5,762)

Net current assets

 

145,139

172,135

Total assets less current liabilities

 

149,074

177,382

Provisions for liabilities

(985)

(1,313)

Net assets

 

148,089

176,069

Capital and reserves

 

Called up share capital

100

100

Retained earnings

147,989

175,969

Shareholders' funds

 

148,089

176,069

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 24 January 2025
 

.........................................

Dr G A Honeyman

Director

 

Sarach Steel Technologies Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

Accounting policies

Statutory information

Sarach Steel Technologies Limited is a private company, limited by shares, domiciled in England and Wales, company number 11406389. The registered office is at 3 Barnsdale Mews, Campsall, Doncaster, DN6 9RH.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Sarach Steel Technologies Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 July 2023

16,523

At 30 June 2024

16,523

Depreciation

At 1 July 2023

11,276

Charge for the year

1,312

At 30 June 2024

12,588

Carrying amount

At 30 June 2024

3,935

At 30 June 2023

5,247

 

Sarach Steel Technologies Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

4

Debtors

2024
£

2023
£

Trade debtors

8,550

7,505

Prepayments

-

432

Other debtors

-

13,416

8,550

21,353

5

Creditors

2024
£

2023
£

Due within one year

Trade creditors

-

432

Taxation and social security

2,473

2,170

Accruals and deferred income

3,215

3,160

Other creditors

4,564

-

10,252

5,762

6

Related party transactions

Summary of transactions with other related parties

Other creditors includes an amount of £4,564 (2023 - £4,752 debtor) in relation to the director's loan account. This loan is interest free.