REGISTERED NUMBER: 10956828 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Satnam Convenience UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K S Khaneja

REGISTERED OFFICE:

24 Fyfield Road

Ongar

Essex

CM5 0AJ

REGISTERED NUMBER:

10956828 (England and Wales)

ACCOUNTANTS:

SK Associates Ltd

1 Agincourt Villas

Uxbridge Road

Hillingdon

Middlesex

UB10 0NX

FIXED ASSETS

Intangible assets

4

118,464

126,964

Tangible assets

5

44,393

54,947

162,857

181,911

CURRENT ASSETS

Stocks

121,821

119,262

Debtors

6

40,550

45,550

Prepayments and accrued income

-

11,038

Cash at bank and in hand

201,774

285,836

364,145

461,686

CREDITORS

Amounts falling due within one year

7

221,994

289,493

NET CURRENT ASSETS

142,151

172,193

TOTAL ASSETS LESS CURRENT LIABILITIES

305,008

354,104

CREDITORS

Amounts falling due after more than one year

8

141,442

192,761

NET ASSETS

163,566

161,343

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

163,466

161,243

163,566

161,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 4 August 2025 and were signed by:

K S Khaneja - Director

1.	STATUTORY INFORMATION

Satnam Convenience UK 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" including the provisions of Section 1A "Small Entities" 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

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of twenty years.

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 provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on 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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

170,000

AMORTISATION

At 1 January 2024

43,036

Amortisation for year

8,500

At 31 December 2024

51,536

NET BOOK VALUE

At 31 December 2024

118,464

At 31 December 2023

126,964

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

2,179

32,500

42,290

24,113

101,082

DEPRECIATION

At 1 January 2024

-

22,018

8,458

15,659

46,135

Charge for year

-

2,097

6,766

1,691

10,554

At 31 December 2024

-

24,115

15,224

17,350

56,689

NET BOOK VALUE

At 31 December 2024

2,179

8,385

27,066

6,763

44,393

At 31 December 2023

2,179

10,482

33,832

8,454

54,947

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

40,550

45,550

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

77,005

67,560

Trade creditors

27,220

43,667

Taxation and social security

9,397

7,319

Other creditors

108,372

170,947

221,994

289,493

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

141,442

162,489

Hire purchase contracts

-

30,272

141,442

192,761

31.12.24

31.12.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

-

20,598

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

K S Khaneja

Balance outstanding at start of year

141,595

137,070

Amounts advanced

-

4,525

Amounts repaid

(140,088

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,507

141,595

10.	RELATED PARTY DISCLOSURES

At the balance sheet date, other debtors include a sum of £45,550 (2023 - £45,550) owed from a company under the common control of the director.