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REGISTERED NUMBER: 04474459 (England and Wales)













Financial Statements

For The Year Ended 31 July 2023

for

PANDIT (UK) LTD

PANDIT (UK) LTD (REGISTERED NUMBER: 04474459)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PANDIT (UK) LTD

Company Information
For The Year Ended 31 July 2023







DIRECTORS: Mrs M P Kulkarni
P P Kulkarni



SECRETARY: P P Kulkarni



REGISTERED OFFICE: 79 College Road
Harrow
Middlesex
HA1 1BD



REGISTERED NUMBER: 04474459 (England and Wales)



ACCOUNTANTS: Ayman Tyler Associates
Accountants & Tax Advisers
79 College Road
Harrow
Middlesex
HA1 1BD



BANKERS: HSBC Bank Plc
Harrow Branch
26-28 St Ann's Road
Harrow
Middlesex
HA1 1LA

PANDIT (UK) LTD (REGISTERED NUMBER: 04474459)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 220 6,957

CURRENT ASSETS
Stocks 48,942 122,684
Debtors 5 414,024 301,896
Cash at bank 517 11,573
463,483 436,153
CREDITORS
Amounts falling due within one year 6 175,599 92,231
NET CURRENT ASSETS 287,884 343,922
TOTAL ASSETS LESS CURRENT
LIABILITIES

288,104

350,879

CREDITORS
Amounts falling due after more than one
year

7

156,146

276,166
NET ASSETS 131,958 74,713

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 131,858 74,613
SHAREHOLDERS' FUNDS 131,958 74,713

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.

PANDIT (UK) LTD (REGISTERED NUMBER: 04474459)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:





Mrs M P Kulkarni - Director


PANDIT (UK) LTD (REGISTERED NUMBER: 04474459)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Pandit (UK) Ltd 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.

The accounts have been prepared on a going concern basis as the main creditor is the Director who has confirmed her long term support for the company. The company has increased its turnover this year from last year which is a good indication of improving sales despite an economic downturn.

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.
Plant and machinery etc - 25% on cost

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.

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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PANDIT (UK) LTD (REGISTERED NUMBER: 04474459)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 28,058
DEPRECIATION
At 1 August 2022 21,101
Charge for year 6,737
At 31 July 2023 27,838
NET BOOK VALUE
At 31 July 2023 220
At 31 July 2022 6,957

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 230,031 141,185
Other debtors 183,993 160,711
414,024 301,896

Other debtors includes £159,993 of money outstanding to Pandit (UK) Ltd from Pandit USA Foods.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts (see note 8) 50,438 -
Taxation and social security 25,393 9,426
Other creditors 99,768 82,805
175,599 92,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 3,938 7,875
Other creditors 152,208 268,291
156,146 276,166

PANDIT (UK) LTD (REGISTERED NUMBER: 04474459)

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

8. LOANS

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 50,438 -
Other loans 92,167 78,500
142,605 78,500

Amounts falling due between two and five years:
Other loans - 2-5 years 152,208 268,291

The company took out a 4 year loan commencing 12th October 2020 for the sum of £164,000, a 6 year loan commencing 20th May 2022 for the sum of £100,000 both with Funding Circle and a 6 year loan commencing 4th February 2022 for the sum of £125,000 with HSBC Bank.

9. OTHER FINANCIAL COMMITMENTS

The company entered into a 5 year lease agreement commencing 2nd December 2020 for the use of warehouse premises at Unit 34 Metropolitan Park, Greenford, Middlesex, UB6 8UQ at an annual rental of £48,000.