Company registration number 07044299 (England and Wales)
Samsco Limited
Unaudited financial statements
For the year ended 31 October 2024
Samsco Limited
Company information
Director
Mr M Patel
Secretary
Mrs S Patel
Company number
07044299
Registered office
51 Windsor Road
Lawn
Swindon
Wiltshire
England
SN3 1JU
Accountants
DJH Chester Limited
Chester House
Lloyd Drive
Cheshire Oaks Business Park
Ellesmere Port
Cheshire
England
CH65 9HQ
Samsco Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Samsco Limited
CHARTERED Accountants' report to the director on the preparation of the unaudited statutory financial statements of Samsco Limited for the year ended 31 October 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Samsco Limited for the year ended 31 October 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Samsco Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Samsco Limited and state those matters that we have agreed to state to the Board of Directors of Samsco Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Samsco Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Samsco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Samsco Limited. You consider that Samsco Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Samsco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

DJH Chester Limited
Chartered Accountants
Chester House
Lloyd Drive
Cheshire Oaks Business Park
Ellesmere Port
Cheshire
CH65 9HQ
England
24 July 2025
Samsco Limited
Balance sheet
As at 31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
160,129
148,036
Current assets
Stocks
6,933
6,307
Debtors
5
4,676
631
Cash at bank and in hand
16,679
26,058
28,288
32,996
Creditors: amounts falling due within one year
4
(66,661)
(51,602)
Net current liabilities
(38,373)
(18,606)
Total assets less current liabilities
121,756
129,430
Creditors: amounts falling due after more than one year
6
(41,093)
(42,862)
Provisions for liabilities
(3,126)
(446)
Net assets
77,537
86,122
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
77,437
86,022
Total equity
77,537
86,122
Samsco Limited
Balance sheet (continued)
As at 31 October 2024
- 3 -

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

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 his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 24 July 2025
Mr M Patel
Director
Company registration number 07044299 (England and Wales)
Samsco Limited
Notes to the financial statements
For the year ended 31 October 2024
- 4 -
1
Accounting policies
Company information

Samsco Limited is a private company limited by shares incorporated in England and Wales. The registered office is 51 Windsor Road, Lawn, Swindon, Wiltshire, England, SN3 1JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold buildings
Nil
Plant and machinery
10% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Samsco Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment in profit and loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified within one year, they are not amortised but carried at face value.

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.

Samsco Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.

 

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 continue to be measured at face value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.11
Retirement benefits
1.12
Leases
As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset.

Samsco Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
- 7 -
1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2023
145,687
14,079
159,766
Additions
-
0
15,940
15,940
At 31 October 2024
145,687
30,019
175,706
Depreciation and impairment
At 1 November 2023
-
0
11,730
11,730
Depreciation charged in the year
-
0
3,847
3,847
At 31 October 2024
-
0
15,577
15,577
Carrying amount
At 31 October 2024
145,687
14,442
160,129
At 31 October 2023
145,687
2,349
148,036
Samsco Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
- 8 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
1,769
1,769
Trade creditors
588
583
Taxation and social security
13,205
12,056
Other creditors
51,099
37,194
66,661
51,602
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,964
186
Other debtors
712
445
4,676
631
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
41,093
42,862

The long-term loans are secured by fixed charges over all assets of the company.

7
Related party transactions

At the year end £44,745 was outstanding and due to the director (2023 - £30,752). The balance is interest free and repayable on demand.

2024-10-312023-11-01falsefalsefalse24 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr M PatelMrs S Patel070442992023-11-012024-10-3107044299bus:Director12023-11-012024-10-3107044299bus:CompanySecretary12023-11-012024-10-3107044299bus:RegisteredOffice2023-11-012024-10-31070442992024-10-31070442992023-10-3107044299core:LandBuildings2024-10-3107044299core:OtherPropertyPlantEquipment2024-10-3107044299core:LandBuildings2023-10-3107044299core:OtherPropertyPlantEquipment2023-10-3107044299core:CurrentFinancialInstrumentscore:WithinOneYear2024-10-3107044299core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3107044299core:ShareCapital2024-10-3107044299core:ShareCapital2023-10-3107044299core:RetainedEarningsAccumulatedLosses2024-10-3107044299core:RetainedEarningsAccumulatedLosses2023-10-3107044299core:LandBuildingscore:OwnedOrFreeholdAssets2023-11-012024-10-3107044299core:PlantMachinery2023-11-012024-10-3107044299core:FurnitureFittings2023-11-012024-10-3107044299core:ComputerEquipment2023-11-012024-10-3107044299core:MotorVehicles2023-11-012024-10-31070442992022-11-012023-10-3107044299core:LandBuildings2023-10-3107044299core:OtherPropertyPlantEquipment2023-10-31070442992023-10-3107044299core:LandBuildings2023-11-012024-10-3107044299core:OtherPropertyPlantEquipment2023-11-012024-10-3107044299core:CurrentFinancialInstruments2024-10-3107044299core:CurrentFinancialInstruments2023-10-3107044299core:Non-currentFinancialInstruments2024-10-3107044299core:Non-currentFinancialInstruments2023-10-3107044299core:WithinOneYear2024-10-3107044299core:WithinOneYear2023-10-3107044299bus:PrivateLimitedCompanyLtd2023-11-012024-10-3107044299bus:SmallCompaniesRegimeForAccounts2023-11-012024-10-3107044299bus:FRS1022023-11-012024-10-3107044299bus:AuditExemptWithAccountantsReport2023-11-012024-10-3107044299bus:FullAccounts2023-11-012024-10-31xbrli:purexbrli:sharesiso4217:GBP