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Registered number: 12020066
Sarvaa Creations Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12020066
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,975 5,970
Tangible Assets 5 35,595 44,494
40,570 50,464
CURRENT ASSETS
Stocks 6 18,190 16,890
Debtors 7 1,545 1,738
Cash at bank and in hand 14,218 30,459
33,953 49,087
Creditors: Amounts Falling Due Within One Year 8 (19,608 ) (20,431 )
NET CURRENT ASSETS (LIABILITIES) 14,345 28,656
TOTAL ASSETS LESS CURRENT LIABILITIES 54,915 79,120
Creditors: Amounts Falling Due After More Than One Year 9 (22,591 ) (48,881 )
NET ASSETS 32,324 30,239
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 32,314 30,229
SHAREHOLDERS' FUNDS 32,324 30,239
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Shruti Prasher
Director
29/01/2025
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
Sarvaa Creations Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12020066 . The registered office is Unit A, Alpha House, Peacock Street, Gravesend, Kent, DA12 1DW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared on the going concern basis. This assumes that the company will continue in operational existence for the foreseeable future. 
At the balance sheet date, the company's liabilities for the year ended 31 May 2020 exceed its assets. The directors of the company have sought assurance from the creditors that their debts will not be called in within the next twelve months.
The directors have therefore deemed it appropriate that the financial statements be prepared on the going concern basis. 
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Franchise fees. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings 20% Reducing balance
Computer Equipment 20% Reducing balance
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 8)
5 8
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 9,950
As at 31 May 2024 9,950
Amortisation
As at 1 June 2023 3,980
Provided during the period 995
As at 31 May 2024 4,975
Net Book Value
As at 31 May 2024 4,975
As at 1 June 2023 5,970
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 62,610 6,950 69,560
As at 31 May 2024 62,610 6,950 69,560
...CONTINUED
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Depreciation
As at 1 June 2023 22,564 2,502 25,066
Provided during the period 8,009 890 8,899
As at 31 May 2024 30,573 3,392 33,965
Net Book Value
As at 31 May 2024 32,037 3,558 35,595
As at 1 June 2023 40,046 4,448 44,494
6. Stocks
2024 2023
£ £
Materials 18,190 16,890
7. Debtors
2024 2023
£ £
Due within one year
VAT 1,545 1,584
Other taxes and social security - 154
1,545 1,738
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,512 684
Other taxes and social security 2,848 -
Accruals and deferred income 2,100 8,301
Director's loan account 12,148 11,446
19,608 20,431
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 22,591 48,881
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
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