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REGISTERED NUMBER: 10188845 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SAMIR PATEL LIMITED

SAMIR PATEL LIMITED (REGISTERED NUMBER: 10188845)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SAMIR PATEL LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: S N Patel
A S Patel





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 10188845 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

SAMIR PATEL LIMITED (REGISTERED NUMBER: 10188845)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 155,994 158,523
Cash at bank and in hand 2,238 34,886
158,232 193,409
CREDITORS
Amounts falling due within one year 5 (103,230 ) (138,729 )
NET CURRENT ASSETS 55,002 54,680
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,002

54,680

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 55,000 54,678
55,002 54,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 March 2025 and were signed on its behalf by:





S N Patel - Director


SAMIR PATEL LIMITED (REGISTERED NUMBER: 10188845)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Samir Patel Limited is a private company, limited by share capital, incorporated in England and Wales, registration number 10188845. The address of the registered office is Magma House 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, England, CV23 0UZ.

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.

The presentational currency of the financial statements is the Pound Sterling (£) and figures are rounded to the nearest £1.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 155,994 158,523

SAMIR PATEL LIMITED (REGISTERED NUMBER: 10188845)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,380
Taxation and social security 85,218 84,852
Other creditors 18,012 52,497
103,230 138,729

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S N Patel
Balance outstanding at start of year 108,588 106,122
Amounts advanced 13,683 2,646
Amounts repaid - (180 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 122,271 108,588

The overdrawn loan account is repayable on demand and interest is applied at HMRC approved rates.

7. RELATED PARTY DISCLOSURES

At 31 March 2024, the company owed £14,832 (2023: £51,097) to a company with common directors.