Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01false47190 - Other retail sale in non-specialised stores85falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06432399 2023-01-01 2023-12-31 06432399 2023-12-31 06432399 2022-12-31 06432399 2023-01-01 2023-12-31 06432399 2022-01-01 2022-12-31 06432399 2023-12-31 06432399 2022-12-31 06432399 c:Director1 2023-01-01 2023-12-31 06432399 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06432399 d:OtherPropertyPlantEquipment 2023-12-31 06432399 d:OtherPropertyPlantEquipment 2022-12-31 06432399 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06432399 d:ComputerSoftware 2023-12-31 06432399 d:ComputerSoftware 2022-12-31 06432399 d:CurrentFinancialInstruments 2023-12-31 06432399 d:CurrentFinancialInstruments 2022-12-31 06432399 d:Non-currentFinancialInstruments 2023-12-31 06432399 d:Non-currentFinancialInstruments 2022-12-31 06432399 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06432399 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06432399 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06432399 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06432399 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 06432399 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 06432399 d:ShareCapital 2023-12-31 06432399 d:ShareCapital 2022-12-31 06432399 d:RetainedEarningsAccumulatedLosses 2023-12-31 06432399 d:RetainedEarningsAccumulatedLosses 2022-12-31 06432399 c:FRS102 2023-01-01 2023-12-31 06432399 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06432399 c:FullAccounts 2023-01-01 2023-12-31 06432399 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06432399 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 06432399 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 06432399 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 06432399









SUBHIDA UK LTD








Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2023

 
SUBHIDA UK LTD
Registered number: 06432399

Statement of financial position
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
  
24,000
-

Tangible assets
 5 
15,541
-

  
39,541
-

Current assets
  

Debtors: amounts falling due within one year
 6 
14,224
101,952

Cash at bank and in hand
 7 
238,000
329,567

  
252,224
431,519

Creditors: amounts falling due within one year
 8 
(11,341)
(11,150)

Net current assets
  
 
 
240,883
 
 
420,369

Total assets less current liabilities
  
280,424
420,369

Creditors: amounts falling due after more than one year
 9 
(13,514)
(14,964)

  

Net assets
  
266,910
405,405


Capital and reserves
  

Called up share capital 
  
376,000
376,000

Profit and loss account
  
(109,090)
29,405

  
266,910
405,405


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 statement of comprehensive income 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 on 19 September 2024.
Page 1

 
SUBHIDA UK LTD
Registered number: 06432399
    
Statement of financial position (continued)
As at 31 December 2023





Kamal Paudel
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SUBHIDA UK LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

1.


General information

The company is private company limited by shares and is incorporated and domiciled in England and Wales. The address of its registered office is   and has its registered office address at Pentax House, South Hill Avenue, South Harrow, England, HA2 0DU.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SUBHIDA UK LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Turnover comprises of revenue from remittance transactions i.e. transaction fee, commission etc. which are recognised when the transaction is approved by the company for forward remittance and is not likely to be cancelled/ refunded.

 
2.4

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.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
SUBHIDA UK LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried
Page 5

 
SUBHIDA UK LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 5).

Page 6

 
SUBHIDA UK LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

4.


Intangible assets




Computer software

£



Cost


Additions
30,000



At 31 December 2023

30,000



Amortisation


Charge for the year on owned assets
6,000



At 31 December 2023

6,000



Net book value



At 31 December 2023
24,000



At 31 December 2022
-



Page 7

 
SUBHIDA UK LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 January 2023
27,116


Additions
19,426



At 31 December 2023

46,542



Depreciation


At 1 January 2023
27,116


Charge for the year on owned assets
3,885



At 31 December 2023

31,001



Net book value



At 31 December 2023
15,541

Page 8

 
SUBHIDA UK LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
87,728

Other debtors
14,224
14,224

14,224
101,952



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
238,000
329,567

238,000
329,567



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
2,323
2,331

Trade creditors
-
2,657

Other taxation and social security
3,456
-

Other creditors
4,062
4,662

Accruals and deferred income
1,500
1,500

11,341
11,150



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
13,514
14,964

13,514
14,964


Page 9

 
SUBHIDA UK LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
2,323
2,331


2,323
2,331


Amounts falling due 2-5 years

Bank loans
13,514
14,964


13,514
14,964


15,837
17,295



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,733 (2022: £1,081). Contributions totalling £656 (2022: £13) were payable to the fund at the reporting date and are included in other creditors. 


12.


Controlling party

The company is controlled by the directors.

 
Page 10