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Registered Number: 11154631


 

 

 

P & S VEKARIA LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
Directors Mr Priyesh Ramji Vekaria
Mrs Sapna Bhudia Vekaria
Registered Number 11154631
Registered Office 1 GRECIAN STREET
SALFORD ENGLAND
M7 1JF
Accountants Simply Happy Accounting
830a Harrogate Road
Greengates Lodge
Bradford
BD10 0RA
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 January 2023.
Principal activities
Principal activity of the company during the financial year was of Retail sale in non-specialised stores with food, beverages or tobacco predominating
Directors
The directors who served the company throughout the year were as follows:
Mr Priyesh Ramji Vekaria
Mrs Sapna Bhudia Vekaria
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr Priyesh Ramji Vekaria
Director

Date approved: 10 October 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 January 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Simply Happy Accounting
31 January 2023



....................................................
Simply Happy Accounting
830a Harrogate Road
Greengates Lodge
Bradford
BD10 0RA
10 October 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 291,826    300,665 
291,826    300,665 
Current assets      
Stocks 4 84,750    57,125 
Debtors 5 18,366    29,604 
Cash at bank and in hand 22,514    19,400 
125,630    106,129 
Creditors: amount falling due within one year 6 (212,559)   (88,025)
Net current liabilities (86,929)   18,104 
 
Total assets less current liabilities 204,897    318,769 
Creditors: amount falling due after more than one year 7 (136,481)   (285,250)
Net assets 68,416    33,519 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 68,316    33,419 
Shareholder's funds 68,416    33,519 
 


For the year ended 31 January 2023 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 10 October 2023 and were signed on its behalf by:


-------------------------------
Mr Priyesh Ramji Vekaria
Director
4
General Information
P & S VEKARIA LIMITED is a private company, limited by shares, registered in , registration number 11154631, registration address 1 GRECIAN STREET, SALFORD ENGLAND, M7 1JF.

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 applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and 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.
Turnover
Turnover comprises the invoiced value of goods and services supplied 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.
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:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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.
2.

Average number of employees

31 January 2023
Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 February 2022 265,308    31,576    35,937    332,821 
Additions      
Disposals      
At 31 January 2023 265,308    31,576    35,937    332,821 
Depreciation
At 01 February 2022   16,419    15,737    32,156 
Charge for year   3,789    5,050    8,839 
On disposals      
At 31 January 2023   20,208    20,787    40,995 
Net book values
Closing balance as at 31 January 2023 265,308    11,368    15,150    291,826 
Opening balance as at 01 February 2022 265,308    15,157    20,200    300,665 


4.

Stocks

2023
£
  2022
£
Stocks 84,750    57,125 
84,750    57,125 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Directors' Current Accounts   21,064 
VAT 18,366    8,540 
18,366    29,604 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 77,556    77,556 
Bank Loans & Overdrafts 60,000   
Corporation Tax 14,950    10,469 
PAYE & Social Security 6,266   
Wages & Salaries Control Account (3,880)  
Directors' Current Accounts 57,667   
212,559    88,025 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 136,481    285,250 
136,481    285,250 

5