Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01No description of principal activitytruefalse17false17trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03322030 2023-05-01 2024-04-30 03322030 2022-05-01 2023-04-30 03322030 2024-04-30 03322030 2023-04-30 03322030 c:CompanySecretary1 2023-05-01 2024-04-30 03322030 c:Director1 2023-05-01 2024-04-30 03322030 c:Director2 2023-05-01 2024-04-30 03322030 c:Director3 2023-05-01 2024-04-30 03322030 c:RegisteredOffice 2023-05-01 2024-04-30 03322030 c:Agent1 2023-05-01 2024-04-30 03322030 d:PlantMachinery 2023-05-01 2024-04-30 03322030 d:PlantMachinery 2024-04-30 03322030 d:PlantMachinery 2023-04-30 03322030 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03322030 d:MotorVehicles 2023-05-01 2024-04-30 03322030 d:MotorVehicles 2024-04-30 03322030 d:MotorVehicles 2023-04-30 03322030 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03322030 d:FurnitureFittings 2023-05-01 2024-04-30 03322030 d:FurnitureFittings 2024-04-30 03322030 d:FurnitureFittings 2023-04-30 03322030 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03322030 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03322030 d:CurrentFinancialInstruments 2024-04-30 03322030 d:CurrentFinancialInstruments 2023-04-30 03322030 d:Non-currentFinancialInstruments 2024-04-30 03322030 d:Non-currentFinancialInstruments 2023-04-30 03322030 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03322030 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03322030 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03322030 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03322030 d:ShareCapital 2024-04-30 03322030 d:ShareCapital 2023-04-30 03322030 d:RetainedEarningsAccumulatedLosses 2024-04-30 03322030 d:RetainedEarningsAccumulatedLosses 2023-04-30 03322030 c:FRS102 2023-05-01 2024-04-30 03322030 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03322030 c:FullAccounts 2023-05-01 2024-04-30 03322030 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03322030 2 2023-05-01 2024-04-30 03322030 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 03322030









SAE LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
SAE LTD
 
 
COMPANY INFORMATION


Directors
Mr B S Sahib 
Mr H S Sahib 
Mr A S Sahib 




Company secretary
Mr A S Sahib



Registered number
03322030



Registered office
3 Norbreck Parade
Park Royal

London

NW10 7HR




Trading Address
Sahibs Auto Electrics
3 Norbreck Parade

London

NW10 7HR






Accountants
Ashon
Chartered Accountants




Bankers
Barclays Bank plc
P O Box 13555

Acorn House

36-38 Park Royal Road

London

NW10 7WJ





 
SAE LTD
REGISTERED NUMBER: 03322030

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,883
25,122

  
19,883
25,122

Current assets
  

Stocks
  
158,250
134,250

Debtors: amounts falling due within one year
 5 
18,695
30,399

Cash at bank and in hand
  
23,189
36,871

  
200,134
201,520

Creditors: amounts falling due within one year
 6 
(101,450)
(100,504)

Net current assets
  
 
 
98,684
 
 
101,016

Total assets less current liabilities
  
118,567
126,138

Creditors: amounts falling due after more than one year
 7 
(135,833)
(193,833)

  

Net liabilities
  
(17,266)
(67,695)


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
(27,266)
(77,695)

  
(17,266)
(67,695)


Page 1

 
SAE LTD
REGISTERED NUMBER: 03322030
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 January 2025.

................................................
Mr A S Sahib
Director

Page 2

 
SAE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The company is a private company lmited by share capital, incorporated in England & Wales. The
 company number and registered office address are:
 Company number:                  03322030
 Registered office address:   3 Norbreck Parade
                                             London
                                             England
                                             NW 10 7HR

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SAE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SAE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
20%
Motor vehicles
-
20%
Fixtures & fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 17).

Page 5

 
SAE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures, fittings & OE
Total

£
£
£
£



Cost or valuation


At 1 May 2023
76,550
14,498
28,325
119,373


Disposals
-
(498)
-
(498)



At 30 April 2024

76,550
14,000
28,325
118,875



Depreciation


At 1 May 2023
64,768
2,730
26,754
94,252


Charge for the year on owned assets
2,356
2,400
314
5,070


Disposals
-
(330)
-
(330)



At 30 April 2024

67,124
4,800
27,068
98,992



Net book value



At 30 April 2024
9,426
9,200
1,257
19,883



At 30 April 2023
11,782
11,768
1,572
25,122


5.


Debtors

2024
2023
£
£


Trade debtors
18,695
29,982

Other debtors
-
417

18,695
30,399


Page 6

 
SAE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
10,000
10,000

Trade creditors
30,170
29,830

Corporation tax
621
-

Other taxation and social security
24,388
25,362

Other creditors
33,021
32,412

Accruals and deferred income
3,250
2,900

101,450
100,504



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
10,833
20,833

Other creditors
125,000
173,000

135,833
193,833


The bank loan relates to the Government backed Bounce Back Loan.
Other creditors relate to unsecured, interest free directors loans.


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £5,795 (2023 - £5,096) . Contributions totalling £1,035 (2023 - £1,084) were payable to the fund at the reporting date and are included in creditors.

 
Page 7