2022-08-012023-07-312023-07-31false11473170VIKRANT RANA 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VIKRANT RANA LIMITED

Registered Number
11473170
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

VIKRANT RANA LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

Mr V Rana

Registered Address

Unit 3 Hyndburn Road
The Viaduct
Accrington
BB5 1QF

Registered Number

11473170 (England and Wales)
VIKRANT RANA LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets312,50015,000
Tangible assets4245,153233,069
257,653248,069
Current assets
Debtors526,29533,309
Cash at bank and on hand172888
26,46734,197
Creditors amounts falling due within one year6(339,445)(346,205)
Net current assets (liabilities)(312,978)(312,008)
Total assets less current liabilities(55,325)(63,939)
Creditors amounts falling due after one year7(72,468)(74,334)
Net assets(127,793)(138,273)
Capital and reserves
Called up share capital11
Profit and loss account(127,794)(138,274)
Shareholders' funds(127,793)(138,273)
The financial statements were approved and authorised for issue by the Director on 31 July 2024, and are signed on its behalf by:
Mr V Rana
Director
Registered Company No. 11473170
VIKRANT RANA LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
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.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Patents and licences are being amortised evenly over their estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings15
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.Average number of employees

20232022
Average number of employees during the year53
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 August 2225,00025,000
At 31 July 2325,00025,000
Amortisation and impairment
At 01 August 2210,00010,000
Charge for year2,5002,500
At 31 July 2312,50012,500
Net book value
At 31 July 2312,50012,500
At 31 July 2215,00015,000
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 August 2215,979273,473169,0716,076464,599
Additions-102,737-558103,295
At 31 July 2315,979376,210169,0716,634567,894
Depreciation and impairment
At 01 August 227,638157,72063,3762,796231,530
Charge for year1,25162,61226,42492491,211
At 31 July 238,889220,33289,8003,720322,741
Net book value
At 31 July 237,090155,87879,2712,914245,153
At 31 July 228,341115,753105,6953,280233,069
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables26,29533,309
Total26,29533,309
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables34,84951,271
Bank borrowings and overdrafts54,32254,322
Taxation and social security15,6127,020
Finance lease and HP contracts47,29888,993
Other creditors187,364144,118
Accrued liabilities and deferred income-481
Total339,445346,205
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.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts29,85659,955
Other creditors42,61214,379
Total72,46874,334
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts42,61214,379