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Registered Number: 08793670
England and Wales

 

 

 

SRI MURUGANS ENTERPRISES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Accountants report

You consider that the company is exempt from an audit for the year ended 30 November 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently, we do not express any opinion on these accounts.

MC CURIE TAX ACCOUNTANTS LTD
30 November 2023



....................................................

MC CURIE TAX ACCOUNTANTS LTD

23 Upper Church Lane
Tipton
West Midlands
DY4 9PX
13 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 5 19,200    20,400 
Tangible fixed assets 6 18,066    13,500 
37,266    33,900 
Current assets      
Stocks 66,000    78,300 
Debtors: amounts falling due within one year 34,200    43,400 
Cash at bank and in hand 8,353    28,990 
108,553    150,690 
Creditors: amount falling due within one year (73,473)   (81,759)
Net current assets 35,080    68,931 
 
Total assets less current liabilities 72,346    102,831 
Creditors: amount falling due after more than one year (70,397)   (101,011)
Net assets 1,949    1,820 
 

Capital and reserves
     
Called up share capital 7 100    100 
Profit and loss account 1,849    1,720 
Shareholders' funds 1,949    1,820 
 


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.

Director's 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 director acknowledges 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 13 September 2024 and were signed by:


-------------------------------
Mayurathan Sivapathasuntharam
Director
2
General Information
SRI MURUGANS ENTERPRISES LTD is a private company, limited by shares, registered in England and Wales, registration number 08793670, registration address 177 Church Road, London, E12 6HB.

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.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 15% 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.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2023
£
  2022
£
Administrative Expenses
Directors Salaries 12,570    12,570 
12,570    12,570 

3.

Staff Costs

2023
£
  2022
£
Wages and salaries 42,685    19,654 
Pension costs, defined contribution plan   258 
42,685    19,912 

4.

Average number of employees

4
Average number of employees during the year was 2 (2022 : 2).
5.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 30,000    30,000 
Additions  
Disposals  
At 30 November 2023 30,000    30,000 
Amortisation
At 01 December 2022 9,600    9,600 
Charge for year 1,200    1,200 
On disposals  
At 30 November 2023 10,800    10,800 
Net book values
At 30 November 2023 19,200    19,200 
At 30 November 2022 20,400    20,400 


6.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 December 2022 10,814    13,999    24,813 
Additions 7,754      7,754 
Disposals    
At 30 November 2023 18,568    13,999    32,567 
Depreciation
At 01 December 2022 7,428    3,885    11,313 
Charge for year 1,671    1,517    3,188 
On disposals    
At 30 November 2023 9,099    5,402    14,501 
Net book values
Closing balance as at 30 November 2023 9,469    8,597    18,066 
Opening balance as at 01 December 2022 3,386    10,114    13,500 


7.

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