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Registration number: 05182100

Vikasanand Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

Vikasanand Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Vikasanand Limited

Company Information

Director

Mr A Amin

Registered office

Transport House
Uxbridge Road
Hillingdon Heath
Hillingdon
Middlesex
UB10 0LY

 

Vikasanand Limited

(Registration number: 05182100)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

295,081

295,081

Investments

5

300,000

300,000

 

595,081

595,081

Current assets

 

Cash at bank and in hand

 

11,070

9,287

Creditors: Amounts falling due within one year

(115,363)

(168,084)

Net current liabilities

 

(104,293)

(158,797)

Total assets less current liabilities

 

490,788

436,284

Creditors: Amounts falling due after more than one year

7.1

(156,004)

(174,358)

Accruals and deferred income

 

(7,593)

(6,093)

Net assets

 

327,191

255,833

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

327,091

255,733

Shareholders' funds

 

327,191

255,833

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

Director's responsibilities:

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

The director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 February 2024
 

 

Vikasanand Limited

(Registration number: 05182100)
Abridged Balance Sheet as at 31 March 2023

.........................................
Mr A Amin
Director

 

Vikasanand Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Transport House
Uxbridge Road
Hillingdon Heath
Hillingdon
Middlesex
UB10 0LY

These financial statements were authorised for issue by the director on 16 February 2024.

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Vikasanand Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 31 March 2023

Investment properties

2023
£

At 1 April

295,081

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

5

Investments

Total
£

Cost or valuation

At 1 April 2022

300,000

Provision

Carrying amount

At 31 March 2023

300,000

At 31 March 2022

300,000

 

Vikasanand Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Creditors

Creditors: amounts falling due after more than one year

Creditors include bank loans which are secured of £194,354 (2021 - £208,023).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £800.00 (2022 - £1,000.00) per ordinary share

 

80,000

 

100,000

         

10

Related party transactions

During the year, the company received a dividend of £150,000 (2022 - £150,000) from J M Patel Limited, a wholly owned subsidiary of the company. The balance owed to J M Patel Limited at 31 March 2023 was £34,918 (2022 - £104,137).

Also, in the year, the company paid a dividend of £80,000 (2022 - £100,000) to the shareholders of the company.

At 31 March 2023, the balance owing to the director of the company was £60,449 (2022 - £43,951).

 

Vikasanand Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

11

Ultimate controlling party

The ultimate controlling party for the current year and the previous year was Mr A Amin by virtue of his majority shareholding in the company.