Registration number:
Aarvee Associates Limited
for the Period from 15 November 2022 to 31 March 2024
Aarvee Associates Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Aarvee Associates Limited
Company Information
Directors |
Mr Stirling Kimkeran Ms Sneha Redla |
Registered office |
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Auditors |
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Aarvee Associates Limited
(Registration number: 14485413)
Balance Sheet as at 31 March 2024
Note |
2024 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net liabilities |
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Capital and Reserves |
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Called up share capital |
100 |
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Retained Earnings |
(206,864) |
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Shareholders' deficit |
(206,764) |
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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Aarvee Associates Limited
Notes to the Financial Statements for the Period from 15 November 2022 to 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 the period 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.
The financial statements are presented in pounds sterling, which is the functional currency of the company.
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operation for the foreseeable future
The major part of the Company's working capital requirements are provided by a loan from its parent company Aarvee Associates Architects Engineers & Consultants PVT Ltd which is repayable on demand.
The directors of the parent company have indicated that they will not demand repayment, however no formal agreement is in place.
Aarvee Associates Limited
Notes to the Financial Statements for the Period from 15 November 2022 to 31 March 2024
Audit report
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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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 tax rates and laws that have been enacted or substantively enacted by the reporting date to apply to the reversal of the timing differences.
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.
Trade Debtors
Trade Debtors are amounts due from customers for services performed in the ordinary course of business.
Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Aarvee Associates Limited
Notes to the Financial Statements for the Period from 15 November 2022 to 31 March 2024
Trade Creditors
Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Financial instruments
Classification
Recognition and measurement
Basic financial liabilities, including trade creditors and other payables are initially recognised at transaction price.
Impairment
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. the impairment loss is recognised in the profit and loss account.
The company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Debtors |
2024 |
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Trade Debtors |
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Other debtors |
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Prepayments |
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Aarvee Associates Limited
Notes to the Financial Statements for the Period from 15 November 2022 to 31 March 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
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Due within one year |
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Trade Creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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100 |
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is