| REGISTERED NUMBER: |
| S.A.I. HOME IMPROVEMENTS LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| REGISTERED NUMBER: |
| S.A.I. HOME IMPROVEMENTS LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| S.A.I. HOME IMPROVEMENTS LTD |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants and |
| Chartered Tax Advisers |
| Broad House |
| 1 The Broadway |
| Old Hatfield |
| Hertfordshire |
| AL9 5BG |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| BALANCE SHEET - continued |
| 31 AUGUST 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| S.a.i. Home Improvements Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis. |
| Significant judgements and estimates |
| In preparing these financial statements, the directors have exercised judgement in the following principal areas: |
| - In determining the depreciation rates of tangible fixed assets, which are depreciated over their useful lives, taking into account residual values, where appropriate. The actual lives of the assets are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as past experience and expected performance are taken into account. |
| - In estimating the quantum of doubtful debts when collection of the full amount is no longer probable. The directors' best estimate is based on the period the debt has been outstanding and the difficulties experienced and anticipated in pursuing collection. |
| - In assessing the net realisable value of the company's stocks. Factors taken into consideration in reaching a decision include sales in the previous year and forecasts for the coming year. |
| - In determining whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching a decision include the economic viability and expected future financial performance of the asset and, where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. |
| - In determining the costs incurred as a result of the fire, factors taken into consideration are the nature of the costs and, in some cases, a comparison of the company's normal level of expenditure prior to the fire projected over the year and the actual costs incurred. |
| Turnover |
| The company sells building materials and recognises sales when these are dispatched. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Short leasehold | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 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, which include debtors, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised 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 amortised. |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Intangible assets and investments |
| Investments in base metals are classified as fixed asset investments. Investments in base metal options and base metals are initially measured at cost but subsequently stated at market value, with any gains or losses recognised in the Profit and Loss Account. |
| Insurance claims |
| Income from insurance claims is recognised only when the realisation of the claim is certain. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Improveme |
| Freehold | Short | to |
| property | leasehold | property |
| £ | £ | £ |
| COST |
| At 1 March 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 March 2023 |
| Charge for period |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 28 February 2023 |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 March 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 March 2023 |
| Charge for period |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 28 February 2023 |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2023 |
| Transfer to ownership | (70,410 | ) | (40,221 | ) | (110,631 | ) |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 March 2023 |
| Charge for period |
| Transfer to ownership | (53,076 | ) | (30,934 | ) | (84,010 | ) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 28 February 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Investments were as follows: |
| 2024 | 2023 |
| £ | £ |
| Base metals | 27,661 | 27,661 |
| 27,661 | 27,661 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable | operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 10. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 54,909 | 101,244 |
| Deferred |
| tax |
| £ |
| Balance at 1 March 2023 |
| Depreciation in advance of |
| capital allowances | (46,335 | ) |
| Balance at 31 August 2024 |
| S.A.I. HOME IMPROVEMENTS LTD (REGISTERED NUMBER: 03219339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| Value: | £ | £ |
| 400 | Ordinary 'A' | £1 | 400 | 400 |
| 50 | Ordinary 'B' | £1 | 50 | 50 |
| 50 | Ordinary 'C' | £1 | 50 | 50 |
| 400 | Ordinary 'D' | £1 | 400 | 400 |
| 50 | Ordinary 'E' | £1 | 50 | 50 |
| 50 | Ordinary 'F' | £1 | 50 | 50 |
| 1,000 | 1,000 |
| 12. | RELATED PARTY DISCLOSURES |
| During the year: |
| - the company paid salaries of £43,600 (2023: £28,800) to the directors; and |
| - the company repaid £26,476 (2023: £49,299) to the directors. |
| At the balance sheet date the company owed £4,280 (2023: £30,756) to the directors. No arrangements have been made as to payment of interest or repayment of capital in respect of this loan. |