Registered number
10691588
Gurukula Limited
Filleted Accounts
31 March 2023
Gurukula Limited
Registered number: 10691588
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,263 1,266
Current assets
Debtors 4 3,740 14,009
Cash at bank and in hand 67,264 46,040
71,004 60,049
Creditors: amounts falling due within one year 5 (17,852) (22,905)
Net current assets 53,152 37,144
Total assets less current liabilities 55,415 38,410
Creditors: amounts falling due after more than one year 6 (10,556) (12,222)
Net assets 44,859 26,188
Capital and reserves
Called up share capital 100 100
Profit and loss account 44,759 26,088
Shareholder's funds 44,859 26,188
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr David Owen
Director
Approved by the board on 1 November 2023
Gurukula Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures and fittings over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Fixtures and fittings Total
£ £ £ £
Cost
At 1 April 2022 - 2,275 243 2,518
Additions 2,252 - - 2,252
At 31 March 2023 2,252 2,275 243 4,770
Depreciation
At 1 April 2022 - 1,106 146 1,252
Charge for the year 751 455 49 1,255
At 31 March 2023 751 1,561 195 2,507
Net book value
At 31 March 2023 1,501 714 48 2,263
At 31 March 2022 - 1,169 97 1,266
4 Debtors 2023 2022
£ £
Trade debtors - 13,849
Other debtors 3,740 160
3,740 14,009
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,667 1,667
Obligations under finance lease and hire purchase contracts - 70
Trade creditors 210 1,692
Directors' loan account 2,704 3,266
Taxation and social security costs 13,271 16,210
17,852 22,905
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,556 12,222
7 Other information
Gurukula Limited is a private company limited by shares and incorporated in England. Its registered office is:
SpaceHoppers Co-Working
Unit 2 Libbys Drive
Stroud
GL5 1RN
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