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Registered Number: 06887303
England and Wales

 

 

 

BIKRAM YOGA LONDON LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022
Directors C C Chitnis
J S Chitnis
Registered Number 06887303
Registered Office Unit 28 City Business Centre
Lower Road
London
SE16 2XB
Accountants Cocke Vellacott & Hill
Unit 28 City Business Centre
Lower Road
London
SE16 2XB
1
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 17,500    25,411 
Investments 4 410,674    410,674 
428,174    436,085 
Current assets      
Stocks 5 1,500    1,500 
Debtors 6 21,057    112,352 
Cash at bank and in hand 79,534    165,264 
102,091    279,116 
Creditors: amount falling due within one year 7 (318,380)   (384,218)
Net current liabilities (216,289)   (105,102)
 
Total assets less current liabilities 211,885    330,983 
Creditors: amount falling due after more than one year 8 (126,821)   (283,855)
Provisions for liabilities 9 (237)   (116)
Net assets 84,827    47,012 
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account 84,727    46,912 
Shareholder's funds 84,827    47,012 
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 September 2023 and were signed on its behalf by:


-------------------------------
C C Chitnis
Director
2
General Information
Bikram Yoga London Limited is a private company, limited by shares, registered in England and Wales, registration number 06887303, registration address Unit 28 City Business Centre, Lower Road, London, SE16 2XB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard Section 1A applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts. These accounts therefore reflect the company's own position and not that of the group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax.
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past years and it is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profits. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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 the income statement in the period to which they relate.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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 basis:
Land and Buildings lease term Straight Line
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 5 (2021 : 5).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2022 70,490    190,385    6,401    267,276 
Additions      
Disposals      
At 31 December 2022 70,490    190,385    6,401    267,276 
Depreciation
At 01 January 2022 61,087    174,567    6,211    241,865 
Charge for year 4,699    3,164    48    7,911 
On disposals      
At 31 December 2022 65,786    177,731    6,259    249,776 
Net book values
Closing balance as at 31 December 2022 4,704    12,654    142    17,500 
Opening balance as at 01 January 2022 9,403    15,818    190    25,411 


4.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 January 2022 410,674    410,674 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2022 410,674    410,674 
The company's investment represents a 100% holding in JOCA Limited (company registration number 5126551. As noted in the accounting policies group accounts are not required as the two entities combined form a small group. JOCA Limited's retained profit for the year ended 30 September 2022 was £86,551 before group dividends paid of £64,000 (2021: profit £16,593, dividend £90,000) and its net assets at that date were £209,519 (2021: £186,968). 

5.

Stocks

2022
£
  2021
£
Stocks for resale 1,500    1,500 
1,500    1,500 

6.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade debtors   (1,956)
Prepayments & accrued income 21,057    19,439 
Directors' current accounts   94,869 
21,057    112,352 

7.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade creditors 22,117    25,216 
Commercial loans due within one year 78,632    140,876 
Amounts due to subsidiary company 111,416    177,394 
Corporation tax 17,932    19,147 
PAYE & Social Security 2,878    2,726 
Accrued expenses 3,648    1,960 
Wages & Salaries Control Account 7,040    1,281 
Directors' current accounts 57,303   
VAT 17,414    15,618 
318,380    384,218 

8.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Commercial loans due after one year 126,821    283,855 
126,821    283,855 

9.

Provisions for liabilities

2022
£
  2021
£
Pension Provisions 237    116 
237    116 

10.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
100 Class A shares of £1.00 each 100    100 
100    100 

11.

Operating lease commitments

The company has total operating lease commitments in respect of land and buildings expiring within 1-5 years amounting to £115,000 (2021: £158,125).
3