Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falsetruecommunity pharmacy89trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08510742 2022-12-01 2023-11-30 08510742 2021-12-01 2022-11-30 08510742 2023-11-30 08510742 2022-11-30 08510742 2021-12-01 08510742 c:Director1 2022-12-01 2023-11-30 08510742 d:FurnitureFittings 2022-12-01 2023-11-30 08510742 d:FurnitureFittings 2023-11-30 08510742 d:FurnitureFittings 2022-11-30 08510742 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08510742 d:Goodwill 2022-12-01 2023-11-30 08510742 d:Goodwill 2023-11-30 08510742 d:Goodwill 2022-11-30 08510742 d:CurrentFinancialInstruments 2023-11-30 08510742 d:CurrentFinancialInstruments 2022-11-30 08510742 d:Non-currentFinancialInstruments 2023-11-30 08510742 d:Non-currentFinancialInstruments 2022-11-30 08510742 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 08510742 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 08510742 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 08510742 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 08510742 d:ShareCapital 2022-12-01 2023-11-30 08510742 d:ShareCapital 2023-11-30 08510742 d:ShareCapital 2021-12-01 2022-11-30 08510742 d:ShareCapital 2022-11-30 08510742 d:ShareCapital 2021-12-01 08510742 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 08510742 d:RetainedEarningsAccumulatedLosses 2023-11-30 08510742 d:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 08510742 d:RetainedEarningsAccumulatedLosses 2022-11-30 08510742 d:RetainedEarningsAccumulatedLosses 2021-12-01 08510742 c:FRS102 2022-12-01 2023-11-30 08510742 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08510742 c:FullAccounts 2022-12-01 2023-11-30 08510742 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08510742 d:WithinOneYear 2023-11-30 08510742 d:WithinOneYear 2022-11-30 08510742 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 08510742 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 08510742 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 08510742 d:TaxLossesCarry-forwardsDeferredTax 2022-11-30 08510742 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 08510742










RAVIKA LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
RAVIKA LTD
REGISTERED NUMBER: 08510742

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
12,343
15,429

  
12,343
15,429

Current assets
  

Stocks
  
102,473
110,464

Debtors: amounts falling due within one year
 6 
82,885
129,312

Cash at bank and in hand
  
94,435
96,898

  
279,793
336,674

Creditors: amounts falling due within one year
 7 
(188,457)
(296,637)

Net current assets
  
 
 
91,336
 
 
40,037

Total assets less current liabilities
  
103,679
55,466

Creditors: amounts falling due after more than one year
 8 
(127,770)
(132,941)

  

Net liabilities
  
(24,091)
(77,475)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(24,093)
(77,477)

  
(24,091)
(77,475)


Page 1

 
RAVIKA LTD
REGISTERED NUMBER: 08510742
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr Ravi Ganatra
Director
Date: 13 August 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
RAVIKA LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 December 2021
2
(133,726)
(133,724)


Comprehensive income for the year

Profit for the year
-
56,249
56,249
Total comprehensive income for the year
-
56,249
56,249


Total transactions with owners
-
-
-



At 1 December 2022
2
(77,477)
(77,475)


Comprehensive income for the year

Profit for the year
-
53,384
53,384
Total comprehensive income for the year
-
53,384
53,384


Total transactions with owners
-
-
-


At 30 November 2023
2
(24,093)
(24,091)


Page 3

 
RAVIKA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Ravika Limited is a private company, limited by share capital, incorporated in England & Wales under registration number 08510742. The address of the registered office is Level 5A Maple House, 149 Tottenham Court Road, London, W1T 7NF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the assumption that the company will have the continued financial support of the shareholders. The shareholders of the company have sufficient resources to finance the company as and when the need arises.
The financial statements have been prepared on a going concern basis which is dependent on the financial support of the shareholders to ensure that the company will continue in operational existence for the foreseeable future.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4

 
RAVIKA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
7
years straight line

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

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.

Page 5

 
RAVIKA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short-term 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.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
RAVIKA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 9).

Page 7

 
RAVIKA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 December 2022
661,861



At 30 November 2023

661,861



Amortisation


At 1 December 2022
661,861



At 30 November 2023

661,861



Net book value



At 30 November 2023
-



At 30 November 2022
-



Page 8

 
RAVIKA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 December 2022
102,489



At 30 November 2023

102,489



Depreciation


At 1 December 2022
87,060


Charge for the year on owned assets
3,086



At 30 November 2023

90,146



Net book value



At 30 November 2023
12,343



At 30 November 2022
15,429

Page 9

 
RAVIKA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
56,570
89,789

Rent deposit
1,000
1,000

VAT repayable
10,875
13,618

Prepayments
3,753
1,665

Deferred taxation
10,687
23,240

82,885
129,312



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
37,200
48,478

Trade creditors
102,378
93,707

Pension payable
222
-

Directors' loan account
44,602
150,456

Accruals
4,055
3,996

188,457
296,637


The bank was secured through fixed and floating charge over all the property or undertaking of the company. 


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
127,770
132,941

127,770
132,941


The bank was secured through fixed and floating charge over all the property or undertaking of the company. 


9.


Deferred taxation

Page 10

 
RAVIKA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
9.Deferred taxation (continued)




2023


£






At beginning of year
23,240


Charged to profit or loss
(12,553)



At end of year
10,687

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,408)
(2,932)

Tax losses carried forward
13,095
26,172

10,687
23,240


10.


Commitments under operating leases

At 30 November 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
40,000
40,000

40,000
40,000


11.


Controlling party

The company was under control of Mr Ravi Ganatra (50% share) and Mrs Ruchika Ganatra (50% share), by virtue of the fact that between them they own the entire issued share capital of the company.

 
Page 11