Sakkal Limited - Period Ending 2023-04-30
Sakkal Limited - Period Ending 2023-04-30
Registration number:
Sakkal Limited
for the Year Ended 30 April 2023
Sakkal Limited
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Sakkal Limited
Company Information
Director |
B Kfir |
Registered office |
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Bankers |
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Accountants |
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Sakkal Limited
(Registration number: 07929677)
Abridged Balance Sheet as at 30 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
- |
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Investment property |
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Other financial assets |
85,000 |
85,000 |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Sakkal Limited
(Registration number: 07929677)
Abridged Balance Sheet as at 30 April 2023
Approved and authorised by the
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Sakkal Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Sakkal Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% straight line |
Investment property
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 May 2022 |
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At 30 April 2023 |
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Depreciation |
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At 1 May 2022 |
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Charge for the year |
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At 30 April 2023 |
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Carrying amount |
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At 30 April 2023 |
- |
- |
At 30 April 2022 |
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Investment properties
2023 |
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At 1 May |
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Additions |
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Fair value adjustments |
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At 30 April |
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Sakkal Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023
The fair value of the investment properties has been arrived at on the basis of a valuation carried out at the balance sheet date by the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been as follows: £4,183,335 (2022 - £2,684,706)
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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Ordinary shares of £1 each |
1 |
1 |
1 |
1 |