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COMPANY REGISTRATION NUMBER: NI694154
Sanath N.I. Limited
Filleted Unaudited Financial Statements
31 August 2024
Sanath N.I. Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Current assets
Debtors
7
402
Cash at bank and in hand
3,988
8,367
-------
-------
4,390
8,367
Creditors: amounts falling due within one year
8
4,791
7,556
-------
-------
Net current (liabilities)/assets
( 401)
811
----
----
Total assets less current liabilities
( 401)
811
----
----
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
( 403)
809
----
----
Shareholders (deficit)/funds
( 401)
811
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 May 2025 , and are signed on behalf of the board by:
A Shridhar
Director
Company registration number: NI694154
Sanath N.I. Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is C/O Feb Chartered Accountants, 1st Floor, 26 Linenhall Street, Belfast, BT2 8BG, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 1 ).
5. Tax on profit
Major components of tax expense
Period from
Year to
1 Feb 23 to
31 Aug 24
31 Aug 23
£
£
Current tax:
UK current tax expense
1,710
1,363
-------
-------
Tax on profit
1,710
1,363
-------
-------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is the same as (2023: the same as) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).
Period from
Year to
1 Feb 23 to
31 Aug 24
31 Aug 23
£
£
Profit on ordinary activities before taxation
8,998
7,172
-------
-------
Profit on ordinary activities by rate of tax
1,710
1,363
-------
-------
6. Dividends
2024
2023
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
8,500
5,000
-------
-------
7. Debtors
2024
2023
£
£
Other debtors
402
----
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
781
780
Corporation tax
1,710
1,363
Social security and other taxes
40
Other creditors
2,300
5,373
-------
-------
4,791
7,556
-------
-------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
10. Controlling party
The company is under the control of A Shridhar , who is the sole shareholder and director of the company.