Registration number:
Vikasanand Limited
for the Year Ended 31 March 2023
Vikasanand Limited
Contents
Company Information |
|
Abridged Balance Sheet |
|
Notes to the Unaudited Abridged Financial Statements |
Vikasanand Limited
Company Information
Director |
Mr A Amin |
Registered office |
|
Vikasanand Limited
(Registration number: 05182100)
Abridged Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Investment property |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Cash at bank and in hand |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Accruals and deferred income |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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 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
Vikasanand Limited
(Registration number: 05182100)
Abridged Balance Sheet as at 31 March 2023
......................................... |
Vikasanand Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Cost or valuation |
Depreciation |
Carrying amount |
At 31 March 2023 |
Investment properties
2023 |
|
At 1 April |
|
There has been no valuation of investment property by an independent valuer.
Investments |
Total |
|
Cost or valuation |
|
At 1 April 2022 |
|
Provision |
|
Carrying amount |
|
At 31 March 2023 |
|
At 31 March 2022 |
|
Vikasanand Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023
2023 |
2022 |
Debtors |
Debtors includes £Nil (2022 - £Nil) due after more than one year.
Creditors |
Creditors: amounts falling due after more than one year
Creditors include bank loans which are secured of £194,354 (2021 - £208,023).
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
Ordinary of £1 each |
100 |
100 |
100 |
100 |
Dividends |
2023 |
2022 |
|||
£ |
£ |
|||
Interim dividend of £ |
80,000 |
100,000 |
||
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
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.