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Registered Number: 08883423
England and Wales

 

 

 

SAI'S CORNER LTD



Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
JK ACCOUNTANTS
31 August 2024



....................................................

JK ACCOUNTANTS

10 Woodbine Place
Wanstead
London
E11 2RH
29 May 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 32,000    32,000 
Tangible fixed assets 4 41,384    44,475 
Investments 5 90,249    88,035 
163,633    164,510 
Current assets      
Stocks 15,500    22,500 
Debtors: amounts falling due within one year 3,250    12,570 
Cash at bank and in hand 44,933    30,639 
63,683    65,709 
Creditors: amount falling due within one year (37,247)   (66,886)
Net current assets 26,436    (1,177)
 
Total assets less current liabilities 190,069    163,333 
Creditors: amount falling due after more than one year (36,633)   (41,600)
Net assets 153,436    121,733 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 153,336    121,633 
Shareholders' funds 153,436    121,733 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 May 2025 and were signed on its behalf by:


-------------------------------
Prashanth Kumar PATANCHERU JOHNWESLEY
Director
2
General Information
Sai's Corner Ltd is a private company, limited by shares, registered in England and Wales, registration number 08883423, registration address 345 Hertford Road, London, England, N9 7ET.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost due to value appreciation 
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings No Dep Reducing Balance
Plant and Machinery 12.5% Reducing Balance
Fixtures and Fittings 7.5% Reducing Balance
Computer Equipment 20% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 10 (2023 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 September 2023 32,000    32,000 
Additions  
Disposals  
At 31 August 2024 32,000    32,000 
Net book values
At 31 August 2024 32,000    32,000 
At 31 August 2023 32,000    32,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £   £
At 01 September 2023 357    79,078    733    3,800    83,968 
Additions        
Disposals        
At 31 August 2024 357    79,078    733    3,800    83,968 
Depreciation
At 01 September 2023 181    38,827    485      39,493 
Charge for year 22    3,019    50      3,091 
On disposals        
At 31 August 2024 203    41,846    535      42,584 
Net book values
Closing balance as at 31 August 2024 154    37,232    198    3,800    41,384 
Opening balance as at 01 September 2023 176    40,251    248    3,800    44,475 

The net book value of Land and Buildings includes £ 3,800 (2023 £3,800) in respect of assets leased under finance leases or hire purchase contracts.

5.

Investments

Cost Loans to group undertakings   Total
  £   £
At 01 September 2023  
Additions 90,249    90,249 
Transfer to/from tangible fixed assets  
Disposals  
At 31 August 2024 90,249    90,249 

6.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3