Accounts filed on 31-05-2021

			Company registration number:		01359801
S KARIR & SONS LIMITED
REPORT OF THE DIRECTORS' AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 May 2021

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S KARIR & SONS LIMITED
BALANCE SHEET
AS AT 31 May 2021
					2021				2020
				Notes	£		£		£		£
FIXED ASSETS
Intangible assets				3			3				3
Tangible assets				4			30,018				65,692
							30,021				65,695
CURRENT ASSETS
Stocks					934,973				1,115,320
Debtors					485,554				444,342
Cash at bank and in hand					88,111				115,788
					1,508,638				1,675,450
CREDITORS
Amounts falling due within one year					(513,186)				(744,416)
NET CURRENT ASSETS							995,452				931,034
TOTAL ASSETS LESS
CURRENT LIABILITIES							1,025,473				996,729
NET ASSETS							1,025,473				996,729
CAPITAL AND RESERVES
Called-up equity share capital							10,000				10,000
Profit and loss account							1,015,473				986,729
SHAREHOLDERS FUNDS							1,025,473				996,729
For the year ending 31 May 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
All the members have consented to the preparation of abridged financial statements for the year ended 31 May 2021 in accordance with Section 444(2A) of the Companies Act 2006.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 8 March 2022 and signed on its behalf.
..........................................................................
Mr P J Karir
8 March 2022
The annexed notes form part of these financial statements.

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S KARIR & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

1.

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A 'Small entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard.

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible Assets

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life.

Fixed Assets

Tangible fixed assets are stated at cost less depreciation 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 bases: Plant and machinery 15% reducing balance basis Motor vehicles 25% reducing balance basis Fixtures and fittings 15% reducing balance basis

Stocks and Work In Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.

Employees

The average number of persons employed by the company (including directors) during the year was 4.

3.	Intangible fixed assets
				Total
	Cost
	At start of period			8,834
	At end of period			8,834
	Amortisation
	At start of period			8,831
	At end of period			8,831
	Net Book Values
	At start of period			3
	At end of period			3

4.	Tangible fixed assets
				Total
	Cost
	At start of period			263,269
	Additions			22,000
	Disposals			(57,085)
	At end of period			228,184
	Depreciation
	At start of period			197,577
	Provided during the period			9,360
	On disposals			(8,771)
	At end of period			198,166
	Net Book Value
	At start of period			65,692
	At end of period			30,018

5.

Related Party Transactions

P Roy Limited, Aimmart Limited and AGT Properties Ltd and the reporting company are related parties. The inter company loan debtors debtors are free of interest and are repayable on demand.