S.K.ARORA & A.MARWAHA LTD
Registered number: 12251868
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,519 11,199
Current assets
Stocks 92,571 41,574
Cash at bank and in hand 3,346 26,058
95,917 67,632
Creditors: amounts falling due within one year 4 (33,853) (8,030)
Net current assets 62,064 59,602
Total assets less current liabilities 71,583 70,801
Creditors: amounts falling due after more than one year 5 (41,547) (36,461)
Net assets 30,036 34,340
Capital and reserves
Called up share capital 100 100
Profit and loss account 29,936 34,240
Shareholders' funds 30,036 34,340
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Marwaha
Director
Approved by the board on 31 July 2024
S.K.ARORA & A.MARWAHA LTD
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 15,500
At 31 October 2023 15,500
Depreciation
At 1 November 2022 4,301
Charge for the year 1,680
At 31 October 2023 5,981
Net book value
At 31 October 2023 9,519
At 31 October 2022 11,199
4 Creditors: amounts falling due within one year 2023 2022
£ £
Non-equity preference shares 10,166 3,079
Trade creditors 8,687 -
Other creditors 15,000 4,951
33,853 8,030
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 41,547 36,461
6 Other information
S.K.ARORA & A.MARWAHA LTD is a private company limited by shares and incorporated in England. Its registered office is:
19 Clifton Road
Rugby
CV21 3PY
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