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REGISTERED NUMBER: 07588334 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Bhatia Associates Limited

Bhatia Associates Limited (Registered number: 07588334)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bhatia Associates Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Dr M G Bhatia
Dr S Nainani





REGISTERED OFFICE: Weir House
5 Old Mill Close
Great Glen
Leicester
Leicestershire
LE8 9EZ





REGISTERED NUMBER: 07588334 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Bhatia Associates Limited (Registered number: 07588334)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 93,645 14,534
Investments 6 33,384 50,000
Investment property 7 840,369 840,369
967,398 904,903

CURRENT ASSETS
Debtors 8 588,405 218,308
Cash at bank 273,792 456,975
862,197 675,283
CREDITORS
Amounts falling due within one year 9 (66,173 ) (71,077 )
NET CURRENT ASSETS 796,024 604,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,763,422

1,509,109

CREDITORS
Amounts falling due after more than one
year

10

(73,258

)

-

PROVISIONS FOR LIABILITIES (23,411 ) (3,634 )
NET ASSETS 1,666,753 1,505,475

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,666,751 1,505,473
1,666,753 1,505,475

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Bhatia Associates Limited (Registered number: 07588334)

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





Dr M G Bhatia - Director


Bhatia Associates Limited (Registered number: 07588334)

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

1. STATUTORY INFORMATION

Bhatia Associates 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business is being amortised evenly over its estimated useful life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & equipment - 15% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Bhatia Associates Limited (Registered number: 07588334)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 84,000
AMORTISATION
At 1 April 2022
and 31 March 2023 84,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 April 2022 48,125 - 48,125
Additions 1,844 100,207 102,051
At 31 March 2023 49,969 100,207 150,176
DEPRECIATION
At 1 April 2022 33,591 - 33,591
Charge for year 2,899 20,041 22,940
At 31 March 2023 36,490 20,041 56,531
NET BOOK VALUE
At 31 March 2023 13,479 80,166 93,645
At 31 March 2022 14,534 - 14,534

Bhatia Associates Limited (Registered number: 07588334)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 50,000
Disposals (16,616 )
At 31 March 2023 33,384
NET BOOK VALUE
At 31 March 2023 33,384
At 31 March 2022 50,000

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 840,369
NET BOOK VALUE
At 31 March 2023 840,369
At 31 March 2022 840,369

Investment property was valued on an open market basis on 31 March 2023 by the directors.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 27,904 30,352
Other debtors 560,501 187,956
588,405 218,308

Other debtors include £508 of prepayments and accrued income (2022 £Nil).

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 11,102 -
Trade creditors 1,378 987
Taxation and social security 42,862 58,688
Other creditors 10,831 11,402
66,173 71,077

Other creditors include £5,760 of accruals and deferred income (2022 £4,440).

Bhatia Associates Limited (Registered number: 07588334)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 73,258 -

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 84,360 -

Hire purchase liabilities are secured on the individual assets being so acquired.

12. CAPITAL COMMITMENTS
31.3.23 31.3.22
£    £   
Contracted but not provided for in the
financial statements - 92,207

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Dr M G Bhatia
Balance outstanding at start of year 98,230 328,432
Amounts advanced 46,706 115,900
Amounts repaid (98,230 ) (346,102 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,706 98,230

The amount was interest free and repayable on demand.