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Registration number: 14052786

Avanthi Warehousing Services UK Limited

Annual Report and Unaudited Financial Statements

for the Period from 19 April 2022 to 31 March 2023

 

Avanthi Warehousing Services UK Limited

Company Information

Directors

Mr Narayana Reddy Naidu

Ms Avanti Reddy Bodanapu

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

Avanthi Warehousing Services UK Limited

(Registration number: 14052786)
Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

3,294

Investment property

5

3,609,321

 

3,612,615

Current assets

 

Debtors

6

50,320

Cash at bank and in hand

 

127,744

 

178,064

Creditors: Amounts falling due within one year

7

(23,099)

Net current assets

 

154,965

Net assets

 

3,767,580

Capital and reserves

 

Called up share capital

8

3,801,000

Retained earnings

(33,420)

Shareholders' funds

 

3,767,580

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
 

.........................................
Mr Narayana Reddy Naidu
Director

 

Avanthi Warehousing Services UK Limited

Notes to the Unaudited Financial Statements for the Period from 19 April 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD
United Kingdom

These financial statements were authorised for issue by the Board on 31 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The tax also includes the Annual Tax on Enveloped Dwellings (ATED).

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

15% on straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Avanthi Warehousing Services UK Limited

Notes to the Unaudited Financial Statements for the Period from 19 April 2022 to 31 March 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Avanthi Warehousing Services UK Limited

Notes to the Unaudited Financial Statements for the Period from 19 April 2022 to 31 March 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

Additions

3,876

3,876

At 31 March 2023

3,876

3,876

Depreciation

Charge for the period

582

582

At 31 March 2023

582

582

Carrying amount

At 31 March 2023

3,294

3,294

5

Investment properties

2023
£

Additions

3,609,321

At 31 March

3,609,321

There has been no valuation of investment property by an independent valuer.

The directors consider the market value of the property at 31 March 2023 as similar to the cost.

The expiry date of the under-lease is 25 September 2126.

6

Debtors

Current

2023
£

Service charges deposit

43,320

Due from solicitors

727

Prepayments

6,273

50,320

 

Avanthi Warehousing Services UK Limited

Notes to the Unaudited Financial Statements for the Period from 19 April 2022 to 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

21,261

Directors current account

1,838

23,099

8

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

3,801,000

3,801,000