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Registered number: 09248880
Jai Shree Sitaram Limited
Financial Statements
For The Year Ended 31 October 2023
1A Accountancy
Chartered Certified Accountants
262 Catherine Street
Diamond Business Building
Leicester
LE4 6GD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09248880
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72 239
72 239
CURRENT ASSETS
Stocks 5 2,397 2,268
Debtors 6 64,670 137,275
Cash at bank and in hand 63,988 -
131,055 139,543
NET CURRENT ASSETS (LIABILITIES) 131,055 139,543
TOTAL ASSETS LESS CURRENT LIABILITIES 131,127 139,782
Creditors: Amounts Falling Due After More Than One Year 7 (41,984 ) (50,000 )
NET ASSETS 89,143 89,782
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 89,043 89,682
SHAREHOLDERS' FUNDS 89,143 89,782
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Chetan Barot
Director
07/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Jai Shree Sitaram Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09248880 . The registered office is 262 Catherine Street, Leicester, Leicestershire, LE4 6GD.
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:
Plant & Machinery 25%
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: 4 (2022: 3)
4 3
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 627
As at 31 October 2023 627
Depreciation
As at 1 November 2022 388
Provided during the period 167
As at 31 October 2023 555
Net Book Value
As at 31 October 2023 72
As at 1 November 2022 239
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5. Stocks
2023 2022
£ £
Stock 2,397 2,268
6. Debtors
2023 2022
£ £
Due within one year
Director's loan account 64,670 137,275
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 41,984 50,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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