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SAVANNAH TRADERS LTD

Registered Number
15085472
(England and Wales)

Unaudited Financial Statements for the Period ended
31 August 2024

SAVANNAH TRADERS LTD
Company Information
for the period from 21 August 2023 to 31 August 2024

Director

NJUGUNA, Albert

Registered Address

102 Stanford House, Oldfield Lane North
Greenford
UB6 0AL

Registered Number

15085472 (England and Wales)
SAVANNAH TRADERS LTD
Balance Sheet as at
31 August 2024

Notes

2024

£

£

Current assets
Stocks355,400
Debtors414,442
Cash at bank and on hand663
70,505
Creditors amounts falling due within one year5(95,464)
Net current assets (liabilities)(24,959)
Total assets less current liabilities(24,959)
Net assets(24,959)
Capital and reserves
Called up share capital100
Profit and loss account(25,059)
Shareholders' funds(24,959)
The financial statements were approved and authorised for issue by the Director on 21 May 2025, and are signed on its behalf by:
NJUGUNA, Albert
Director
Registered Company No. 15085472
SAVANNAH TRADERS LTD
Notes to the Financial Statements
for the period ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortized. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, loans from fellow group companies 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. Financial liabilities classified as payable within one year are not amortized. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

2024
Average number of employees during the year1
3.Stocks

2024

£
Finished goods55,400
Total55,400
4.Debtors: amounts due within one year

2024

£
Other debtors14,442
Total14,442
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables71,236
Other creditors23,578
Accrued liabilities and deferred income650
Total95,464
6.Related party transactions
Included in other creditors is an amount of £7,563 due to the director. It also includes an amount of £1,015 due to Peritus Solutions Ltd, a company related to the director.