Registered number
09276243
Shruthi Limited
Unaudited Filleted Accounts
31 October 2023
Shruthi Limited
Registered number: 09276243
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 313,622 313,715
Current assets
Debtors 4 15,399 226
Cash at bank and in hand 157,868 21,222
173,267 21,448
Creditors: amounts falling due within one year 5 (40,800) (22,324)
Net current assets/(liabilities) 132,467 (876)
Net assets 446,089 312,839
Capital and reserves
Called up share capital 100 100
Profit and loss account 445,989 312,739
Shareholders' funds 446,089 312,839
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Ekambaram
Director
Approved by the board on 14 August 2024
Shruthi Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 313,343 1,175 314,518
At 31 October 2023 313,343 1,175 314,518
Depreciation
At 1 November 2022 - 803 803
On disposals - 93 93
At 31 October 2023 - 896 896
Net book value
At 31 October 2023 313,343 279 313,622
At 31 October 2022 313,343 372 313,715
4 Debtors 2023 2022
£ £
Other debtors 15,399 226
Other debtors include £15262 (2022 £226) relating to amounts owing from the directors. The highest amount outstanding was at 31 October 2023.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,224 1,020
Taxation and social security costs 39,576 21,304
40,800 22,324
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R Ekambaram 226 15,036 15,262
226 15,036 - 15,262
7 Related party transactions
During the year the company purchased the directors' private residence at market value in 2022
8 Controlling party
The company is controlled by the two directors by virtue of their ownership of 100% of the issued share capital of the company.
9 Other information
Shruthi Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Highlands Road
Rochdale
Lancs
OL11 5PD
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