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REGISTERED NUMBER: 01126062 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

R Chandra (Gems) Limited

R Chandra (Gems) Limited (Registered number: 01126062)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R Chandra (Gems) Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mrs Sunita Mistry
R R Waghela
Mrs A R Waghela





REGISTERED OFFICE: 173 Cleveland Street
London
W1T 6QR





REGISTERED NUMBER: 01126062 (England and Wales)





ACCOUNTANTS: Shah Dodhia & Co
173 Cleveland Street
London
W1T 6QR

R Chandra (Gems) Limited (Registered number: 01126062)

Balance Sheet
31 July 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 1,083 1,445

CURRENT ASSETS
Stocks 381,566 411,527
Debtors 6 31,465 49,904
Cash at bank and in hand 196,146 175,020
609,177 636,451
CREDITORS
Amounts falling due within one year 7 339,352 412,415
NET CURRENT ASSETS 269,825 224,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,908

225,481

CAPITAL AND RESERVES
Called up share capital 12,000 12,000
Retained earnings 258,908 213,481
270,908 225,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





R R Waghela - Director


R Chandra (Gems) Limited (Registered number: 01126062)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

R Chandra (Gems) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

R Chandra (Gems) Limited (Registered number: 01126062)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 August 2022
and 31 July 2023 54,430 25,375 79,805
DEPRECIATION
At 1 August 2022 54,012 24,348 78,360
Charge for year 105 257 362
At 31 July 2023 54,117 24,605 78,722
NET BOOK VALUE
At 31 July 2023 313 770 1,083
At 31 July 2022 418 1,027 1,445

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 10,981 36,259
Other debtors 20,484 13,645
31,465 49,904

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 279,461 298,623
Taxation and social security 42,275 15,759
Other creditors 17,616 98,033
339,352 412,415