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Company Registration No. 07941941 (England and Wales)
Pravas Systems Limited Unaudited accounts for the year ended 28 February 2023
Pravas Systems Limited Unaudited accounts Contents
Page
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Pravas Systems Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,376 
2,902 
Current assets
Debtors
96,743 
50,744 
Cash at bank and in hand
(889)
(783)
95,854 
49,961 
Creditors: amounts falling due within one year
(23,130)
(19,463)
Net current assets
72,724 
30,498 
Net assets
74,100 
33,400 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
74,090 
33,390 
Shareholders' funds
74,100 
33,400 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 November 2023 and were signed on its behalf by
Mr Srinivasa Rao Vasireddi Director Company Registration No. 07941941
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Pravas Systems Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Pravas Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 07941941. The registered office is 450 Brook Drive, Green Park, Reading, RG2 6UU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straightline
Computer equipment
25% Straightline
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 March 2022
11,901 
At 28 February 2023
11,901 
Depreciation
At 1 March 2022
8,999 
Charge for the year
1,526 
At 28 February 2023
10,525 
Net book value
At 28 February 2023
1,376 
At 28 February 2022
2,902 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
13,200 
- 
Other debtors
83,543 
50,744 
96,743 
50,744 
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Pravas Systems Limited Notes to the Accounts for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
132 
102 
Taxes and social security
18,176 
19,484 
Other creditors
4,822 
(123)
23,130 
19,463 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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