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Registered number: 03572942
Saras Technology Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 03572942
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 8,161 18,798
Tangible Assets 5 115,855 74,008
124,016 92,806
CURRENT ASSETS
Stocks 321,496 279,636
Debtors 6 1,120,761 793,703
Cash at bank and in hand 507,108 65,526
1,949,365 1,138,865
Creditors: Amounts Falling Due Within One Year 7 (500,140 ) (328,353 )
NET CURRENT ASSETS (LIABILITIES) 1,449,225 810,512
TOTAL ASSETS LESS CURRENT LIABILITIES 1,573,241 903,318
Creditors: Amounts Falling Due After More Than One Year 8 (137,071 ) (87,828 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,895 ) (14,200 )
NET ASSETS 1,407,275 801,290
CAPITAL AND RESERVES
Called up share capital 11 100 100
Income Statement 1,407,175 801,190
SHAREHOLDERS' FUNDS 1,407,275 801,290
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For the year ending 31 July 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 Income Statement.
On behalf of the board
Dr Ashwain Rayit
Director
17 April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Saras Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03572942 . The registered office is Windmill House, 277 Tong Road, Leeds, LS12 4NQ.
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
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern assumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to income statement over its estimated economic life of 5 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:
Plant & Machinery 20% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. 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.
2.9. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
4. Intangible Assets
Other
£
Cost
As at 1 August 2023 64,847
As at 31 July 2024 64,847
Amortisation
As at 1 August 2023 46,049
Provided during the period 10,637
As at 31 July 2024 56,686
Net Book Value
As at 31 July 2024 8,161
As at 1 August 2023 18,798
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 239,376 83,767 178,761 501,904
Additions 54,456 - 2,744 57,200
Disposals (8,122 ) (56,391 ) (140,890 ) (205,403 )
As at 31 July 2024 285,710 27,376 40,615 353,701
Depreciation
As at 1 August 2023 197,690 79,651 150,555 427,896
Provided during the period 7,404 1,271 6,679 15,354
Disposals (8,123 ) (56,391 ) (140,890 ) (205,404 )
As at 31 July 2024 196,971 24,531 16,344 237,846
Net Book Value
As at 31 July 2024 88,739 2,845 24,271 115,855
As at 1 August 2023 41,686 4,116 28,206 74,008
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,072,948 702,591
Other debtors 47,813 91,112
1,120,761 793,703
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,473
Trade creditors 270,513 177,398
Bank loans and overdrafts 47,143 43,142
Other creditors 78,358 85,223
Taxation and social security 104,126 20,117
500,140 328,353
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 33,832 80,975
Other creditors 103,239 6,853
137,071 87,828
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9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,473
Bank loans and overdrafts 80,975 124,117
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 2,473
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 28,500 28,500
Later than one year and not later than five years 114,000 114,000
Later than five years 256,500 285,000
399,000 427,500
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