Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05888065 Mr Sanjeev Kalra Mr Deepak Kalra Mr Andesh Gupta iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05888065 2023-03-31 05888065 2024-03-31 05888065 2023-04-01 2024-03-31 05888065 frs-core:CurrentFinancialInstruments 2024-03-31 05888065 frs-core:Non-currentFinancialInstruments 2024-03-31 05888065 frs-core:FurnitureFittings 2024-03-31 05888065 frs-core:FurnitureFittings 2023-04-01 2024-03-31 05888065 frs-core:FurnitureFittings 2023-03-31 05888065 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 05888065 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05888065 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 05888065 frs-core:MotorVehicles 2024-03-31 05888065 frs-core:MotorVehicles 2023-04-01 2024-03-31 05888065 frs-core:MotorVehicles 2023-03-31 05888065 frs-core:ShareCapital 2024-03-31 05888065 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05888065 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05888065 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05888065 frs-bus:SmallEntities 2023-04-01 2024-03-31 05888065 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05888065 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05888065 frs-core:ListedExchangeTraded 2024-03-31 05888065 frs-core:ListedExchangeTraded 2023-03-31 05888065 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-03-31 05888065 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-03-31 05888065 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-03-31 05888065 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-03-31 05888065 frs-bus:Director1 2023-04-01 2024-03-31 05888065 frs-bus:Director2 2023-04-01 2024-03-31 05888065 frs-bus:Director3 2023-04-01 2024-03-31 05888065 frs-countries:EnglandWales 2023-04-01 2024-03-31 05888065 2022-03-31 05888065 2023-03-31 05888065 2022-04-01 2023-03-31 05888065 frs-core:CurrentFinancialInstruments 2023-03-31 05888065 frs-core:Non-currentFinancialInstruments 2023-03-31 05888065 frs-core:ShareCapital 2023-03-31 05888065 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05888065
Deepak Fasteners (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Sachdevs
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05888065
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 504,058 508,995
Investments 5 1,417,697 1,417,697
1,921,755 1,926,692
CURRENT ASSETS
Stocks 6 2,536,840 2,685,828
Debtors 7 300,581 (3,639,577 )
Cash at bank and in hand 2 4
2,837,423 (953,745 )
Creditors: Amounts Falling Due Within One Year 8 (775,307 ) (739,213 )
NET CURRENT ASSETS (LIABILITIES) 2,062,116 (1,692,958 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,983,871 233,734
Creditors: Amounts Falling Due After More Than One Year 9 (3,778,009 ) (126,668 )
NET ASSETS 205,862 107,066
CAPITAL AND RESERVES
Called up share capital 10 180,000 180,000
Profit and Loss Account 25,862 (72,934 )
SHAREHOLDERS' FUNDS 205,862 107,066
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sanjeev Kalra
Director
25/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Deepak Fasteners (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05888065 . The registered office is 12-14 Tower Street, Birmingham, B19 3RR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 0.8%
Motor Vehicles 25% sraight line
Fixtures & Fittings 15% Reducing line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 563,258 7,800 95,023 666,081
As at 31 March 2024 563,258 7,800 95,023 666,081
Depreciation
As at 1 April 2023 58,578 7,800 90,708 157,086
Provided during the period 4,506 - 431 4,937
As at 31 March 2024 63,084 7,800 91,139 162,023
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 500,174 - 3,884 504,058
As at 1 April 2023 504,680 - 4,315 508,995
5. Investments
Listed
£
Cost
As at 1 April 2023 1,417,697
As at 31 March 2024 1,417,697
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 1,417,697
As at 1 April 2023 1,417,697
6. Stocks
2024 2023
£ £
Stock 2,536,840 -
Finished goods - 2,685,828
2,536,840 2,685,828
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 264,560 251,745
Other debtors 36,021 36,021
300,581 287,766
Due after more than one year
Amounts owed by group undertakings - (3,927,343)
300,581 (3,639,577 )
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,971 87,588
Bank loans and overdrafts 697,466 648,226
Other creditors 7,019 -
Taxation and social security 46,851 3,399
775,307 739,213
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 3,658,009 -
Other creditors 120,000 126,668
3,778,009 126,668
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 180,000 180,000
Page 5