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REGISTERED NUMBER: 08397040 (England and Wales)









BHARGAVA ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BHARGAVA ASSOCIATES LIMITED (REGISTERED NUMBER: 08397040)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BHARGAVA ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr P Bhargava
Dr N Bhargava





SECRETARY: Mr A Bhargava





REGISTERED OFFICE: 21 Eastern Dene
Hazlemere
High Wycombe
Buckinghamshire
HP15 7BS





REGISTERED NUMBER: 08397040 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

BHARGAVA ASSOCIATES LIMITED (REGISTERED NUMBER: 08397040)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,594 28,170

CURRENT ASSETS
Debtors 5 10,160 7,510
Investments 6 427,000 445,000
Cash at bank 181,714 140,473
618,874 592,983
CREDITORS
Amounts falling due within one year 7 15,218 17,698
NET CURRENT ASSETS 603,656 575,285
TOTAL ASSETS LESS CURRENT
LIABILITIES

621,250

603,455

CREDITORS
Amounts falling due after more than one
year

8

(12,396

)

(22,354

)

PROVISIONS FOR LIABILITIES (1,300 ) (1,454 )
NET ASSETS 607,554 579,647

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 597,554 569,647
607,554 579,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BHARGAVA ASSOCIATES LIMITED (REGISTERED NUMBER: 08397040)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2024 and were signed on its behalf by:





Dr N Bhargava - Director


BHARGAVA ASSOCIATES LIMITED (REGISTERED NUMBER: 08397040)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Bhargava Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 33.33% on cost
Computer equipment - 33% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BHARGAVA ASSOCIATES LIMITED (REGISTERED NUMBER: 08397040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 22,354 14,329 36,683
Additions - 1,944 1,944
At 31 March 2024 22,354 16,273 38,627
DEPRECIATION
At 1 April 2023 - 8,513 8,513
Charge for year - 2,561 2,561
Eliminated on disposal 9,959 - 9,959
At 31 March 2024 9,959 11,074 21,033
NET BOOK VALUE
At 31 March 2024 12,395 5,199 17,594
At 31 March 2023 22,354 5,816 28,170

BHARGAVA ASSOCIATES LIMITED (REGISTERED NUMBER: 08397040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 22,354
DEPRECIATION
Eliminated on disposal 9,959
At 31 March 2024 9,959
NET BOOK VALUE
At 31 March 2024 12,395
At 31 March 2023 22,354

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,783 7,510
Directors' current accounts 2,377 -
10,160 7,510

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Investment in associates 125,000 125,000
Amounts due from fellow group
undertakings 302,000 320,000
427,000 445,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 9,120 10,942
PAYE and NIC 275 8
Other creditors 3,999 3,999
Directors' current accounts - 1,350
Credit card 486 127
Accrued expenses 1,338 1,272
15,218 17,698

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 12,396 22,354

BHARGAVA ASSOCIATES LIMITED (REGISTERED NUMBER: 08397040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 12,396 -
Between one and five years - 22,354
12,396 22,354

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Dr P Bhargava and Dr N Bhargava
Balance outstanding at start of year - -
Amounts advanced 2,376 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,376 -

11. RELATED PARTY DISCLOSURES

The following amounts were outstanding at the reporting end date in respect of loans to an associated company: £302,000 (2023: £320,000)

The loan to the associated company is interest free and repayable on demand.