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Registered Number: 13764476
England & Northern Ireland

 

 

 

PV & RS CO LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2023.
Principal activities
Principal activity of the company during the financial year was of Retail sale in non-specialized stores with food, beverages or tobacco predominating & Postal activities under universal service obligation.
Directors
The directors who served the company throughout the year were as follows:
Sreehari Rao Bandala
Pavan Kumar Tulasi
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Sreehari Rao Bandala
Director

Date approved: 07 March 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 94,548   
Tangible fixed assets 4 1,811   
96,359   
Current assets      
Stocks 5 21,050   
Debtors 6 16,455   
Cash at bank and in hand 18,195    100 
55,700    100 
Creditors: amount falling due within one year 7 (42,070)   (7,191)
Net current assets 13,630    (7,091)
 
Total assets less current liabilities 109,989    (7,091)
Creditors: amount falling due after more than one year 8 (147,682)  
Net assets (37,693)   (7,091)
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account (37,793)   (7,191)
Shareholders' funds (37,693)   (7,091)
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 07 March 2024 and were signed on its behalf by:


-------------------------------
Sreehari Rao Bandala
Director
2
General Information
PV & RS CO LTD is a private company, limited by shares, registered in England & Northern Ireland, registration number 13764476, registration address 350 Bradford Road , Stanningley , Pudsey, LS28 7TQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022  
Additions 100,000    100,000 
Disposals  
At 30 November 2023 100,000    100,000 
Amortisation
At 01 December 2022  
Charge for year 5,452    5,452 
On disposals  
At 30 November 2023 5,452    5,452 
Net book values
At 30 November 2023 94,548    94,548 
At 30 November 2022  


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 December 2022  
Additions 1,968    1,968 
Disposals  
At 30 November 2023 1,968    1,968 
Depreciation
At 01 December 2022  
Charge for year 157    157 
On disposals  
At 30 November 2023 157    157 
Net book values
Closing balance as at 30 November 2023 1,811    1,811 
Opening balance as at 01 December 2022  


5.

Stocks

2023
£
  2022
£
Stocks 21,050   
21,050   

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
VAT 2,137   
2,137   

6.

Debtors: amounts falling due after one year

2023
£
  2022
£
Director Loan: Pavan Kumar Tulasi 14,318   
14,318   

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 18,538   
Natwest-8732 3,212   
PAYE & Social Security 350   
Other Creditors 787   
Wages & Salaries Control Account 11,992   
Directors' Current Accounts 7,191    7,191 
42,070    7,191 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Loan From Sdet Digital 46,000   
Loan From Everest System 75,000   
Director Loan: Sreehari Rao Bandala 26,682   
147,682   

9.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3