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Bhagat and Sons Pte Ltd

Registered Number
08896897
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

Bhagat and Sons Pte Ltd
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

M S Bhagat
S M Bhagat

Registered Address

7 St Johns Road
Harrow
HA1 2EY

Registered Number

08896897 (England and Wales)
Bhagat and Sons Pte Ltd
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets63,367,3633,367,363
3,367,3633,367,363
Current assets
Debtors-756
Cash at bank and on hand79,96553,664
79,96554,420
Creditors amounts falling due within one year9(467,726)(457,406)
Net current assets (liabilities)(387,761)(402,986)
Total assets less current liabilities2,979,6022,964,377
Creditors amounts falling due after one year10(2,650,864)(2,675,096)
Net assets328,738289,281
Capital and reserves
Called up share capital100100
Profit and loss account328,638289,181
Shareholders' funds328,738289,281
The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2023, and are signed on its behalf by:
M S Bhagat
Director
Registered Company No. 08896897
Bhagat and Sons Pte Ltd
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
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.
3.Principal activities
The principal activity of the company in the year under review was that of Investment properties.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Dep @25% RBM.
Revenue recognition policy
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.
Deferred tax policy
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 it is probable that they will be recovered against the reversal of defferred tax liabilities or other future taxable profits.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
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.
5.Employee information

20232022
Average number of employees during the year24
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 March 223,367,363
At 28 February 233,367,363
Net book value
At 28 February 233,367,363
At 28 February 223,367,363
7.Description of nature of transactions and balances with related parties
At the Balance Sheet date the company owed the director £1,865,237 (2022: £1,828,124 ).
8.Debtors within one year

2023

2022

££
Other debtors-756
Total-756
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables22,42725,035
Bank borrowings and overdrafts122,286154,697
Amounts owed to related parties289,105242,123
Taxation and social security31,72432,560
Accrued liabilities and deferred income2,1842,991
Total467,726457,406
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts1,050,8641,075,096
Amounts owed to related parties1,600,0001,600,000
Total2,650,8642,675,096