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Registered number: 06837970
SAHARA LOUNGE LTD
Unaudited Financial Statements
For The Year Ended 31 March 2024
Hardy & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06837970
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,819 59,107
53,819 59,107
CURRENT ASSETS
Stocks 5 4,096 4,682
Debtors 6 220,047 636,422
Cash at bank and in hand 655,340 79,258
879,483 720,362
Creditors: Amounts Falling Due Within One Year 7 (277,152 ) (274,963 )
NET CURRENT ASSETS (LIABILITIES) 602,331 445,399
TOTAL ASSETS LESS CURRENT LIABILITIES 656,150 504,506
Creditors: Amounts Falling Due After More Than One Year 8 (28,703 ) (40,154 )
NET ASSETS 627,447 464,352
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 627,446 464,351
SHAREHOLDERS' FUNDS 627,447 464,352
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Page 2
For the year ending 31 March 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 his 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 JASEN QUAKE
Director
20/02/2025
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
SAHARA LOUNGE LTD is a private company, limited by shares, incorporated in England & Wales, registered number 06837970 . The registered office is 7-9 STANMORE HILL, STANMORE, Middlesex, HA7 3DP.
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. 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.
2.3. 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:
Plant & Machinery 25% reduced value
Fixtures & Fittings 25% reduced value
Computer Equipment 25% reduced value
2.4. 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.
2.5. 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 years and items that are never taxable or deductible. The SAHARA LOUNGE LTD 's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 12)
11 12
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 179,855 10,672 190,527
Additions 12,651 - 12,651
As at 31 March 2024 192,506 10,672 203,178
Depreciation
As at 1 April 2023 125,236 6,184 131,420
Provided during the period 16,817 1,122 17,939
As at 31 March 2024 142,053 7,306 149,359
Net Book Value
As at 31 March 2024 50,453 3,366 53,819
As at 1 April 2023 54,619 4,488 59,107
5. Stocks
2024 2023
£ £
Stock 4,096 4,682
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by participating interests 220,047 636,422
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 190,018 187,334
Taxation and social security 87,134 87,629
277,152 274,963
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 28,703 40,154
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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