Ishan Ltd
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Enter data in the white spaces Enter numbers as + unless indicated Current year Comparative
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Company registration number 08730138
Date
Approval date of the accounts by the board 14/09/2022
Date
Date of signing on the audit/accountants report 14/09/2022
Date of engagement letter (required for Date
CA and ACCA reports)
Person signing directors' report:
Name of director Mr Kesar Singh Gogeer
Or, name of secretary
Name of director signing balance sheet Mr Kesar Singh Gogeer
Address of registered office:
Address line 1 7 Westmoreland House
Address line 2 Cumberland Park
City or town Scrubs Lane
County or region London
Postcode NW10 6RE
Name of senior statutory auditor
Name of auditors/accountants Capital Accountants Ltd
Type of firm (eg Chartered Accountants)
Address of auditors/accountants
Address line 1 7 Westmoreland House
Address line 2 Cumberland Park
City or town Scrubs Lane
County or region London
Postcode NW10 6RE
Prior year adjustments (+ for a gain; - for a loss) £
Correction of prior year errors
Effect of retrospective changes in accounting policies
More info on prior year adjustments
Number Number
Average number of persons employed by the company 5 5
Freehold land & buildings if
revalued amounts shown in trial balance: £ £
historical cost
cumulative depreciation based on cost
Historical cost of fixed asset investments £ £
Investments in subsidiaries
Other investments
£ £
Amounts due after more than one year included in debtors
Amounts included in creditors falling due for payment
after more than five years: £ £
Payable otherwise than by installment
Payable by installment
£ £
Secured bank loans included in creditors
Capital commitments: £ £
contracted
Total future payments due under non-cancellable £ £
operating leases
Registered number
08730138
Ishan Ltd
Filleted Accounts
31 October 2021
Ishan Ltd
Registered number: 08730138
Balance Sheet
as at 31 October 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 42,818 46,112
Tangible assets 4 1,963 2,454
44,781 48,566
Current assets
Stocks 34,000 12,017
Debtors 5 (78,170) -
Cash at bank and in hand 13,930 47,814
(30,240) 59,831
Creditors: amounts falling due within one year 6 77,899 (4,556)
Net current assets 47,659 55,275
Total assets less current liabilities 92,440 103,841
Creditors: amounts falling due after more than one year 7 (74,587) (91,108)
Net assets 17,853 12,733
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,753 12,633
Shareholders' funds 17,853 12,733
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Kesar Singh Gogeer
Director
Approved by the board on 14 September 2022
Ishan Ltd
Notes to the Accounts
for the year ended 31 October 2021
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 20% Reduction on reducing balance
Fixtures, fittings, tools and equipment 20% Reduction on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 31 October 2021 52,700
Amortisation
At 1 November 2020 6,588
At 31 October 2021 9,882
Net book value
At 31 October 2021 42,818
At 31 October 2020 46,112
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Motor vehicles
£
Cost
At 1 November 2020 5,991
At 31 October 2021 5,991
Depreciation
At 1 November 2020 3,537
Charge for the year 491
At 31 October 2021 4,028
Net book value
At 31 October 2021 1,963
At 31 October 2020 2,454
5 Debtors 2021 2020
£ £
Other debtors 3,798 -
6 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts - -
Corporation tax 3,822 2,172
VAT Payable 247 2,384
Other creditors - -
(77,899) 4,556
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 50,000 50,000
Director's Loan 24,587 41,108
74,587 91,108
8 Other information
Ishan Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Westmoreland House
Cumberland Park
Scrubs Lane
London
NW10 6RE
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