Aarvee Associates Limited 14485413 false 2022-11-15 2024-03-31 2024-03-31 The principal activity of the company is consultancy and engineering services Digita Accounts Production Advanced 6.30.9574.0 true true false 14485413 2022-11-15 2024-03-31 14485413 2024-03-31 14485413 bus:OrdinaryShareClass1 2024-03-31 14485413 core:CurrentFinancialInstruments 2024-03-31 14485413 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14485413 bus:SmallEntities 2022-11-15 2024-03-31 14485413 bus:Audited 2022-11-15 2024-03-31 14485413 bus:FullAccounts 2022-11-15 2024-03-31 14485413 bus:SmallCompaniesRegimeForAccounts 2022-11-15 2024-03-31 14485413 bus:RegisteredOffice 2022-11-15 2024-03-31 14485413 bus:Director1 2022-11-15 2024-03-31 14485413 bus:Director2 2022-11-15 2024-03-31 14485413 bus:OrdinaryShareClass1 2022-11-15 2024-03-31 14485413 bus:PrivateLimitedCompanyLtd 2022-11-15 2024-03-31 14485413 1 2022-11-15 2024-03-31 14485413 countries:EnglandWales 2022-11-15 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14485413

Aarvee Associates Limited

Annual Report and Financial Statements

for the Period from 15 November 2022 to 31 March 2024

 

Aarvee Associates Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Aarvee Associates Limited

Company Information

Directors

Mr Stirling Kimkeran

Ms Sneha Redla

Registered office

The Shipping Building
The Old Vinyl Factory, Blyth Road
Hayes
London
UB3 1HA

Auditors

Feist Hedgethorne Limited
Registered Auditors
Preston Park House
South Road
Brighton
BN1 6SB

 

Aarvee Associates Limited

(Registration number: 14485413)
Balance Sheet as at 31 March 2024

Note

2024
£

Current assets

 

Debtors

4

9,751

Cash at bank and in hand

 

247,376

 

257,127

Creditors: Amounts falling due within one year

5

(463,891)

Net liabilities

 

(206,764)

Capital and Reserves

 

Called up share capital

6

100

Retained Earnings

(206,864)

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 Board on 30 July 2024 and signed on its behalf by:
 

.........................................
Mr Stirling Kimkeran
Director

 

Aarvee Associates Limited

Notes to the Financial Statements for the Period from 15 November 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Shipping Building
The Old Vinyl Factory, Blyth Road
Hayes
London
UB3 1HA
England

These financial statements were authorised for issue by the Board on 30 July 2024.

2

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

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 7 August 2024 was Chris Morey, who signed for and on behalf of Feist Hedgethorne Limited.

.........................................

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
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable and loans from related parties.
 Recognition and measurement
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at traansaction price.

Basic financial liabilities, including trade creditors and other payables are initially recognised at transaction price.

 Impairment
Financial assets are assessed for indicators of impairment at each reporting end date.

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1.

4

Debtors

2024
£

Trade Debtors

4,800

Other debtors

2,318

Prepayments

2,633

9,751

 

Aarvee Associates Limited

Notes to the Financial Statements for the Period from 15 November 2022 to 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Trade Creditors

 

60,480

Amounts owed to group undertakings and undertakings in which the company has a participating interest

387,531

Taxation and social security

 

3,284

Accruals and deferred income

 

7,000

Other creditors

 

5,596

 

463,891

6

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £1 each

100

100

     

7

Parent and ultimate parent undertaking

The company's immediate parent is Aarvee Associates Architects Engineers & Consultants PVT Ltd, incorporated in India.

 The ultimate controlling party is Venkatachala Chakrapani Redla.