Accounts filed on 31-05-2018

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			Company registration number:			01359801
S KARIR & SONS LIMITED
REPORT OF THE DIRECTORS' AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 May 2018

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S KARIR & SONS LIMITED
BALANCE SHEET
AS AT 31 May 2018
					2018				2017
				Notes	£		£		£		£
FIXED ASSETS
Intangible assets				2			3				3
Tangible assets				3			50,498				36,872
							50,501				36,875
CURRENT ASSETS
Stocks					1,409,169				1,400,183
Debtors					419,208				434,060
Cash at bank and in hand					106,995				145,706
					1,935,372				1,979,949
CREDITORS
Amounts falling due within one year					(1,029,022)				(1,095,809)
NET CURRENT ASSETS							906,350				884,140
TOTAL ASSETS LESS
CURRENT LIABILITIES							956,851				921,015
NET ASSETS							956,851				921,015
CAPITAL AND RESERVES
Called-up equity share capital							10,000				10,000
Profit and loss account							946,851				911,015
SHAREHOLDERS FUNDS							956,851				921,015
For the year ending 31 May 2018 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 2018 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 25 October 2018 and signed on its behalf.
..........................................................................
Mr P J Karir
25 October 2018
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 2018

1.

Accounting policies

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

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.	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

3.	Tangible fixed assets
				Total
	Cost
	At start of period			196,115
	Additions			29,399
	At end of period			225,514
	Depreciation
	At start of period			159,243
	Provided during the period			15,773
	At end of period			175,016
	Net Book Value
	At start of period			36,872
	At end of period			50,498

4.

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.