S A R I Consulting Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—5

1. General Information

S A R I Consulting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06525679 . The registered office is 19 The Circle, Queen Elizabeth Street, London, England, SE1 2JE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25 % SLM
Fixtures & Fittings	25% SLM
Office Equipment	25% SLM

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

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S A R I Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Office Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	16,567	30,603	5,057	52,227
Additions	-	39,789	-	39,789

As at 31 December 2024	16,567	70,392	5,057	92,016

Depreciation
As at 1 January 2024	16,567	30,603	3,388	50,558
Provided during the period	-	7,992	809	8,801

As at 31 December 2024	16,567	38,595	4,197	59,359

Net Book Value
As at 31 December 2024	-	31,797	860	32,657

As at 1 January 2024	-	-	1,669	1,669

5. Investments

	Listed
	£
Cost
As at 1 January 2024	58,230

As at 31 December 2024	58,230

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	58,230

As at 1 January 2024	58,230

Investment represent the follwing :-

1.Investment in Sari Cons. Ltd (Zambia) 75.98% of £1

2.Investments in Sari Cons. Ltd (Kenya) 100% of £71

3.Investments in Sari Cons. Ltd (Uganda) 80% of £16323

4.Investments in Sari Cons. Ltd (Zimbabwe) 95% of £2

5. Investment in Sari Ingegneria SRL (Italy) 100% of £41,833

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S A R I Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,225,231	874,411
Prepayments and accrued income	1,076	75,589
WHT Receivable	986,247	734,605
Loan to Sari Consulting Ltd - Uganda	4,066	4,066
Loan to Sari Consulting Lda - Mozambique	18,549	18,549
Loan to Sari Consulting - Zimbabwe	250	250
Loan to SARI Ingegneria Srl	37,778	37,778
Shareholder loan account	-	3,472
Loan to Sari Consulting Madagascar	801	801
VAT	5,704	4,994
SARI Kenya Receivable	430,917	108,187

	2,710,619	1,862,702

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	726,233	657,482
Corporation tax	(9,049 )	(7,696 )
Other taxes and social security	13,066	1,489
Net wages	4,986	-
WHT Payble	105,332	117,673
Uganda branch a/c	518,129	258,746
Loan from CPG	3,602	3,602
Loan from Sari Uganda office	16,660	16,660
Shareholders loan	21,028	-
Loan to Sari Consulting Ltd - Kenya	569,714	245,584
Accruals and deferred income	374,506	273,145
Directors' loan accounts	7,749	1,118

	2,351,956	1,567,803

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	50,000	50,000

9. Directors Advances, Credits and Guarantees

Included within creditors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Goffredo De Pascale	1,118	6,631	-	-	7,749

The above loan is unsecured, interest free and repayable on demand.

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S A R I Consulting Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Related Party Transactions

At the end of the year, the compay owes below amount from different subsidaries and Branch :

£ 4,066 from Sari consulting Ltd - Uganda ( Branch)

£ 18,549 from Sari consulting Ltd - Mozambique ( Branch)

£ 250 from Sari consulting Ltd - Zimbabwe (Subsidaries)

£ 37,778 from Sari Ingegneria SRL.(Subsidaries)

£ 800.59 from Sari Consulting Madagascar(Branch)

£430,917 from Sari consulting Ltd - Kenya(Subsidaries)

All above from included in note 6 above.

Also the company owe below amount to different Subsidaries and Branch:

£569,714 to Sari consulting Ltd - Kenya(Subsidaries)

£16,660 to Sari consulting Ltd - Uganda (Branch)

The same has been included in note 7 above.

11. Ultimate Controlling Party

The company's ultimate controlling party is Mr Goffredo De Pascale by virtue of his ownership of 75% or more of the issued share capital in the company.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		32,657		1,669
Investments	5		58,230		58,230

			90,887		59,899
CURRENT ASSETS
Debtors	6	2,710,619		1,862,702
Cash at bank and in hand		52,482		122,934

		2,763,101		1,985,636
Creditors: Amounts Falling Due Within One Year	7	(2,351,956 )		(1,567,803 )

NET CURRENT ASSETS (LIABILITIES)			411,145		417,833

TOTAL ASSETS LESS CURRENT LIABILITIES			502,032		477,732

NET ASSETS			502,032		477,732

CAPITAL AND RESERVES
Called up share capital	8		50,000		50,000
Profit and Loss Account			452,032		427,732

SHAREHOLDERS' FUNDS			502,032		477,732