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Registered Number: 11981674
England & Northern Ireland

 

 

 

CODE TANTRA LIMITED


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 providing IT software development and testing services.
Directors
The directors who served the company throughout the year were as follows:
Swathi Rajya Lakshmi SEEMAKURTHY
Viral Doshi
Manish Shah
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:


----------------------------------
Viral Doshi
Director

Date approved: 30 December 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 19,901   
Tangible fixed assets 4 19,108    21,311 
39,009    21,311 
Current assets      
Debtors 5 138,351    76,453 
Cash at bank and in hand 3,834    100 
142,185    76,553 
Creditors: amount falling due within one year 6 (156,040)   (89,190)
Net current assets (13,855)   (12,637)
 
Total assets less current liabilities 25,154    8,674 
Creditors: amount falling due after more than one year 7   (1,620)
Accruals and deferred income  
Net assets 25,154    7,054 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 25,054    6,954 
Shareholders' funds 25,154    7,054 
 


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 30 December 2023 and were signed on its behalf by:


-------------------------------
Viral Doshi
Director
2
General Information
Code Tantra Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 11981674, registration address 21 Heath Drive, Romford, RM2 5QH.

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.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
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 33.33% Reducing Balance
Land and Buildings 10 Years Straight Line
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022  
Additions 20,000    20,000 
Disposals  
At 30 November 2023 20,000    20,000 
Amortisation
At 01 December 2022  
Charge for year 99    99 
On disposals  
At 30 November 2023 99    99 
Net book values
At 30 November 2023 19,901    19,901 
At 30 November 2022  


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Computer Equipment   Total
  £   £   £
At 01 December 2022 21,500    357    21,857 
Additions    
Disposals    
At 30 November 2023 21,500    357    21,857 
Depreciation
At 01 December 2022 348    198    546 
Charge for year 2,150    53    2,203 
On disposals    
At 30 November 2023 2,498    251    2,749 
Net book values
Closing balance as at 30 November 2023 19,002    106    19,108 
Opening balance as at 01 December 2022 21,152    159    21,311 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 136,480    72,980 
Corporation Tax 1,871    3,058 
PAYE & Social Security   415 
138,351    76,453 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 37,200    26,800 
PAYE & Social Security 343   
Other Creditors (1)  
Directors' Current Accounts 105,811    56,332 
VAT 12,687    6,058 
156,040    89,190 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Accrued Expenses   1,620 
  1,620 

8.

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