Chinthapalli Limited 07695528 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is that of paediatric services Digita Accounts Production Advanced 6.30.9574.0 true 07695528 2022-08-01 2023-07-31 07695528 2023-07-31 07695528 core:CurrentFinancialInstruments 2023-07-31 07695528 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07695528 core:Goodwill 2023-07-31 07695528 core:FurnitureFittings 2023-07-31 07695528 core:OfficeEquipment 2023-07-31 07695528 bus:SmallEntities 2022-08-01 2023-07-31 07695528 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 07695528 bus:FullAccounts 2022-08-01 2023-07-31 07695528 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 07695528 bus:RegisteredOffice 2022-08-01 2023-07-31 07695528 bus:Director1 2022-08-01 2023-07-31 07695528 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07695528 core:Goodwill 2022-08-01 2023-07-31 07695528 core:FurnitureFittings 2022-08-01 2023-07-31 07695528 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 07695528 core:OfficeEquipment 2022-08-01 2023-07-31 07695528 countries:EnglandWales 2022-08-01 2023-07-31 07695528 2022-07-31 07695528 core:Goodwill 2022-07-31 07695528 core:FurnitureFittings 2022-07-31 07695528 core:OfficeEquipment 2022-07-31 07695528 2021-08-01 2022-07-31 07695528 2022-07-31 07695528 core:CurrentFinancialInstruments 2022-07-31 07695528 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 07695528 core:FurnitureFittings 2022-07-31 07695528 core:OfficeEquipment 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 07695528

Chinthapalli Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Chinthapalli Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Chinthapalli Limited

(Registration number: 07695528)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,573

2,246

Current assets

 

Debtors

6

13,319

5,428

Cash at bank and in hand

 

234,215

196,058

 

247,534

201,486

Creditors: Amounts falling due within one year

7

(28,526)

(24,491)

Net current assets

 

219,008

176,995

Net assets

 

221,581

179,241

Capital and reserves

 

Called up share capital

20

20

Retained earnings

221,561

179,221

Shareholders' funds

 

221,581

179,241

For the financial year ending 31 July 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 year 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 29 March 2024 and signed on its behalf by:
 

.........................................
RN Chinthapalli
Director

 

Chinthapalli Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax payable.

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.

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.

 

Chinthapalli Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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

Office equipment

25% straight line

Medical equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

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.

Debtors

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Chinthapalli Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

40,000

40,000

At 31 July 2023

40,000

40,000

Amortisation

At 1 August 2022

40,000

40,000

At 31 July 2023

40,000

40,000

Carrying amount

At 31 July 2023

-

-

5

Tangible assets

Medical equipment
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

797

6,441

7,238

Additions

-

1,147

1,147

At 31 July 2023

797

7,588

8,385

Depreciation

At 1 August 2022

698

4,294

4,992

Charge for the year

38

782

820

At 31 July 2023

736

5,076

5,812

Carrying amount

At 31 July 2023

61

2,512

2,573

At 31 July 2022

99

2,147

2,246

 

Chinthapalli Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

8,708

5,428

Other debtors

4,611

-

 

13,319

5,428

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

17,997

13,360

Other creditors

10,529

11,131

28,526

24,491

8

Related party transactions

Other transactions with directors

R Chinthapalli had a loan with the company. At the balance sheet date the amount owed from R Chinthapalli was £3,947. At 2022 the company owed R Chinthapalli £221.