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REGISTERED NUMBER: 07689168 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024

FOR

SAMY LIMITED

SAMY LIMITED (REGISTERED NUMBER: 07689168)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


SAMY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Mr Mohan Periyasamy Palani Samy
Mr Ashokkumar Kaliannan


REGISTERED OFFICE: 73-75 Corporation Road
Middlesbrough
TS1 1LY


REGISTERED NUMBER: 07689168 (England and Wales)


SENIOR STATUTORY AUDITOR: Mr Nimesh Pau F.C.C.A.


AUDITORS: R Pau & Co Limited
Chartered Certified Accountants
& Statutory Auditors
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ


BANKERS: Barclays Bank Plc
Witham, Leicester, Leicestershire,
LE87 2BB
Santander Bank
Bridle Road, Bootle, Merseyside,
L30 4BG

SAMY LIMITED (REGISTERED NUMBER: 07689168)

STRATEGIC REPORT
FOR THE YEAR ENDED 30TH JUNE 2024


The principle activity of the company during the year continued to be fuel service station commission operator and retail off licence stores with food, beverage and tobacco predominating.

REVIEW OF BUSINESS
The turnover of the company is £39.5 million compared to the previous year's turnover of £35.4 million. The margins have been maintained at 19.6% compared to 16.7% in the previous year. The company achieved net profit before tax of £1.7 million compared to a profit of £1.4 million in the previous year. The director considers that the profit achieved on ordinary activities before taxation to be very satisfactory. The trading results for the year and the company's financial position at the end of the year are shown in the attached financial statements. The company is in a good position to take advantage of business opportunities and the director considers the state of affairs to be satisfactory.

Key performance indicators

The director considers that the following performance indicators are appropriate in terms of the assessment of the company's progress:

- Growth in revenue
- Increased efficiency of operational costs relative to revenues
- Achieving positive profit before tax
- Securing new stores for expansion to increase market share

Current trading and future developments

The company continues to make progress across all elements of its business.


SAMY LIMITED (REGISTERED NUMBER: 07689168)

STRATEGIC REPORT
FOR THE YEAR ENDED 30TH JUNE 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The company is subject to a number of risks, principally external. The director regularly reviews the risks to which the company is exposed and has in place a strategy to mitigate these risks as far as possbible. The following summary, which is not exhaustive, outlines some of the key risks and uncertainties facing the company at its present stage of development.

The risks that are particularly important at the current time are:-

- Consumer attitude to the type of shopping particularly online presence of big brand groceries.
- Increase in power tariffs.
- Entry of new competitors in the company's geographical areas.
- Any outbreak of virus and its impact on the business.
- Financial risk e.g. credit control and any material increase in finance costs.

Financial Instrument Risk

a) The company seeks to operate within its agreed overdraft and loan facility with the bank. All the sales are to UK customers and all suppliers are UK based, the company has therefore not entered into any hedging arrangements in respect of risks relating to trade debtors or creditors.

b) The exposure of the company to price risk, credit risk, liquidity risk and cash flow risk;

Impact of COVID 19

We are closely monitoring the coronavirus situation and following Government guidelines and are sharing these with all employees. We are prepared to take action to deal with this situation as it changes. We have considered the potential impact of COVID-19 in our risk analysis.

ON BEHALF OF THE BOARD:





Mr Mohan Periyasamy Palani Samy - Director


24th June 2025

SAMY LIMITED (REGISTERED NUMBER: 07689168)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2024


The directors present their report with the financial statements of the company for the year ended 30th June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company during the year was continued to be fuel service station commission operator and retail off licence stores with food, beverage and tobacco predominating.

DIVIDENDS
The total distribution of dividends for the year ended 30th June 2024 will be nil (30.06.23: £2,000).

DIRECTORS
Mr Mohan Periyasamy Palani Samy has held office during the whole of the period from 1st July 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr Ashokkumar Kaliannan - appointed 6th October 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

SAMY LIMITED (REGISTERED NUMBER: 07689168)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2024


AUDITORS
The auditors, R Pau & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




Mr Mohan Periyasamy Palani Samy - Director


24th June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAMY LIMITED


Opinion
We have audited the financial statements of Samy Limited (the 'company') for the year ended 30th June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30th June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAMY LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

In light of our knowledge and understanding of the company and it's environment obtained on the course of the audit, we have not identified material misstatements in the Strategic Report and the Report of the Directors.
We have nothing to report of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAMY LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outline above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the company and the industry in which it operates, we identified the principal risks
of non-compliance with laws and regulations related to the acts by the company which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition.

Audit procedures performed included:

o Review of the financial statement disclosures to underlying supporting documentation
o Enquiring of management and directors concerning actual and potential litigation and claims including knowledge of any non-compliance with laws and regulations
o In addressing the fraud risk in revenue recognition we have tested a sample of revenues recorded through agreement of booking period terms
o In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of non-compliance with laws and regulations that are not closely related to the events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SAMY LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Nimesh Pau F.C.C.A. (Senior Statutory Auditor)
for and on behalf of R Pau & Co Limited
Chartered Certified Accountants
& Statutory Auditors
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ

24th June 2025

SAMY LIMITED (REGISTERED NUMBER: 07689168)

INCOME STATEMENT
FOR THE YEAR ENDED 30TH JUNE 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 39,459,379 35,421,030

Cost of sales 31,731,960 29,509,189
GROSS PROFIT 7,727,419 5,911,841

Distribution costs 527,468 398,010
Administrative expenses 5,907,503 4,523,803
6,434,971 4,921,813
1,292,448 990,028

Other operating income 505,026 519,319
OPERATING PROFIT 5 1,797,474 1,509,347


Interest payable and similar expenses 6 89,602 71,804
PROFIT BEFORE TAXATION 1,707,872 1,437,543

Tax on profit 7 423,853 288,746
PROFIT FOR THE FINANCIAL YEAR 1,284,019 1,148,797

SAMY LIMITED (REGISTERED NUMBER: 07689168)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30TH JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,284,019 1,148,797


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,284,019

1,148,797

SAMY LIMITED (REGISTERED NUMBER: 07689168)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 2 4
Tangible assets 10 2,319,222 2,502,679
2,319,224 2,502,683

CURRENT ASSETS
Stocks 11 1,201,528 1,199,274
Debtors 12 2,892,322 688,572
Cash at bank and in hand 2,224,943 2,876,501
6,318,793 4,764,347
CREDITORS
Amounts falling due within one year 13 3,698,245 4,026,617
NET CURRENT ASSETS 2,620,548 737,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,939,772

3,240,413

CREDITORS
Amounts falling due after more than one
year

14

(1,188,746

)

(774,301

)

PROVISIONS FOR LIABILITIES 17 (18,362 ) (17,467 )
NET ASSETS 3,732,664 2,448,645

CAPITAL AND RESERVES
Called up share capital 18 100 100
Retained earnings 3,732,564 2,448,545
SHAREHOLDERS' FUNDS 3,732,664 2,448,645

The financial statements were approved by the Board of Directors and authorised for issue on 24th June 2025 and were signed on its behalf by:





Mr Mohan Periyasamy Palani Samy - Director


SAMY LIMITED (REGISTERED NUMBER: 07689168)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st July 2022 100 1,301,748 1,301,848

Changes in equity
Dividends - (2,000 ) (2,000 )
Total comprehensive income - 1,148,797 1,148,797
Balance at 30th June 2023 100 2,448,545 2,448,645

Changes in equity
Total comprehensive income - 1,284,019 1,284,019
Balance at 30th June 2024 100 3,732,564 3,732,664

SAMY LIMITED (REGISTERED NUMBER: 07689168)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH JUNE 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (898,593 ) 3,749,971
Interest paid (89,602 ) (63,240 )
Interest element of hire purchase payments
paid

-

(8,564

)
Tax paid (228,526 ) (50,758 )
Net cash from operating activities (1,216,721 ) 3,627,409

Cash flows from investing activities
Purchase of tangible fixed assets (6,000 ) (1,042,592 )
Sale of tangible fixed assets 150,000 -
Net cash from investing activities 144,000 (1,042,592 )

Cash flows from financing activities
Capital repayments in year 405,163 (212,922 )
Amount introduced by directors 16,000 2,000
Equity dividends paid - (2,000 )
Net cash from financing activities 421,163 (212,922 )

(Decrease)/increase in cash and cash equivalents (651,558 ) 2,371,895
Cash and cash equivalents at beginning of
year

2

2,876,501

504,606

Cash and cash equivalents at end of year 2 2,224,943 2,876,501

SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30TH JUNE 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,707,872 1,437,543
Depreciation charges 39,459 51,621
Finance costs 89,602 71,804
1,836,933 1,560,968
Increase in stocks (2,254 ) (77,706 )
(Increase)/decrease in trade and other debtors (2,461,896 ) 671,948
(Decrease)/increase in trade and other creditors (271,376 ) 1,594,761
Cash generated from operations (898,593 ) 3,749,971

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30th June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 2,224,943 2,876,501
Year ended 30th June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 2,876,501 504,606


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank and in hand 2,876,501 (651,558 ) 2,224,943
2,876,501 (651,558 ) 2,224,943
Debt
Finance leases (40,963 ) 21,827 (19,136 )
Debts falling due within 1 year (159,000 ) 6,591 (152,409 )
Debts falling due after 1 year (755,165 ) (433,581 ) (1,188,746 )
(955,128 ) (405,163 ) (1,360,291 )
Total 1,921,373 (1,056,721 ) 864,652

SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

Samy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill and amortisation
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its estimated useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - over 5 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is caluclated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property - over the lease terms
Short leasehold property - over the lease terms
Fixtures and fittings - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as at asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 ther period in which it arises.

SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversal of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,715,549 1,631,320
Other pension costs 16,687 12,803
2,732,236 1,644,123

The average number of employees during the year was as follows:
2024 2023

Administrative staff 162 99

SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


4. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 20,000 20,000

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 79,110 80,375
Depreciation - owned assets 39,457 51,619
Goodwill amortisation 2 2
Auditors' remuneration 6,000 7,500

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 1,395 2,134
Bank loan interest 88,207 61,106
Hire purchase - 8,564
89,602 71,804

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 422,957 284,583

Deferred tax 896 4,163
Tax on profit 423,853 288,746

SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,707,872 1,437,543
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2023 - 19%)

324,496

273,133

Effects of:
Capital allowances in excess of depreciation (4,011 ) (9,320 )
Profits multiplied by the higher rate of corporation tax 102,472 20,770
Accelerated capital allowances 896 4,163
Total tax charge 423,853 288,746

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Interim - 2,000

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 30th June 2024 10
AMORTISATION
At 1st July 2023 6
Amortisation for year 2
At 30th June 2024 8
NET BOOK VALUE
At 30th June 2024 2
At 30th June 2023 4

SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


10. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short Long and
property leasehold leasehold fittings Totals
£    £    £    £    £   
COST
At 1st July 2023 1,779,176 30,000 675,492 196,314 2,680,982
Additions - - - 6,000 6,000
Disposals (150,000 ) - - - (150,000 )
At 30th June 2024 1,629,176 30,000 675,492 202,314 2,536,982
DEPRECIATION
At 1st July 2023 - 30,000 43,922 104,381 178,303
Charge for year - - 14,974 24,483 39,457
At 30th June 2024 - 30,000 58,896 128,864 217,760
NET BOOK VALUE
At 30th June 2024 1,629,176 - 616,596 73,450 2,319,222
At 30th June 2023 1,779,176 - 631,570 91,933 2,502,679

11. STOCKS
2024 2023
£    £   
Stocks 1,201,528 1,199,274

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 226,538 71,969
Amounts owed by group undertakings 2,021,102 323,500
Other debtors 490,000 160,140
Prepayments 154,682 132,963
2,892,322 688,572

SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 152,409 159,000
Hire purchase contracts (see note 16) 19,136 21,827
Trade creditors 2,489,316 2,654,941
Other creditors - 192,000
Amounts owed to group undertakings - 258,146
Corporation taxation 605,760 411,329
Social security and other taxes 64,169 52,361
Pension contributions 7,312 3,532
VAT 45,222 39,204
Directors' current accounts 80,258 64,258
Accrued expenses 234,663 170,019
3,698,245 4,026,617

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 1,188,746 755,165
Hire purchase contracts (see note 16) - 19,136
1,188,746 774,301

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 152,409 159,000

Amounts falling due between one and two years:
Bank loans - 1-5 years 1,188,746 755,165

16. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 19,136 21,827
Between one and five years - 19,136
19,136 40,963

SAMY LIMITED (REGISTERED NUMBER: 07689168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 18,362 17,467

Deferred
tax
£   
Balance at 1st July 2023 17,467
Accelerated capital allowances 895
Balance at 30th June 2024 18,362

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30th June 2024 the company owed £80,258 (2023: £64,258) to Mohan Periyasamy Palani Samy. These amounts are interest free and repayable on demand. During the year dividends credited to the director were nil (2023: £2,000) and amounts drawn by the director were nil.

20. RELATED PARTY DISCLOSURES

At 30th June 2024 amounts owed from related undertakings was £2,021,102 (2023: £65,354). These amounts are interest free and repayable on demand.

21. ULTIMATE CONTROLLING PARTY

The controlling party is Mr Mohan Periyasamy Palani Samy.

22. CHARGES ON ASSETS

There is a fixed and floating charge in favour of Santander Bank and Barlcays Bank Plc against all properties and undertakings of the company.