Registered number
12711631
Rudra Corporation Limited
Filleted Accounts
31 July 2024
Rudra Corporation Limited
Registered number: 12711631
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 57,000 57,000
Tangible assets 4 35,578 41,856
92,578 98,856
Current assets
Stocks 3,630 7,050
Debtors 5 38,017 10,000
Cash at bank and in hand 102,472 183,963
144,119 201,013
Creditors: amounts falling due within one year 6 (14,289) (51,150)
Net current assets 129,830 149,863
Total assets less current liabilities 222,408 248,719
Creditors: amounts falling due after more than one year 7 (114,928) (125,527)
Net assets 107,480 123,192
Capital and reserves
Called up share capital 100 100
Profit and loss account 107,380 123,092
Shareholders' funds 107,480 123,192
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.
Mr Manbir Singh
Director
Approved by the board on 19 August 2024
Rudra Corporation Limited
Notes to the Accounts
for the year ended 31 July 2024
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 57,000
At 31 July 2024 57,000
Amortisation
At 31 July 2024 -
Net book value
At 31 July 2024 57,000
At 31 July 2023 57,000
Goodwill represents the purchased value of previous business and is carried in the accounts at its historical balue on 1 August 2020. Goodwill is not amortised as the directors are of the opinion that its carrying value is fully recoverable.
4 Tangible fixed assets
Fixtures & fittings
£
Cost
At 1 August 2023 65,554
At 31 July 2024 65,554
Depreciation
At 1 August 2023 23,698
Charge for the year 6,278
At 31 July 2024 29,976
Net book value
At 31 July 2024 35,578
At 31 July 2023 41,856
5 Debtors 2024 2023
£ £
Other debtors 38,017 10,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,553 2,627
Trade creditors 3,129 17,371
Taxation and social security costs 2,573 22,046
Director's account - 8,093
Accruals & deferred income 1,034 1,013
14,289 51,150
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 114,928 125,527
8 Trading name
The company has traded under the name of "Wasabi Teppanyaki " throughout the current and previous year
9 Other information
Rudra Corporation Limited is a private company limited by shares and incorporated in England. Its registered office is:
Fowler House, Fowler Lane
Farrington Moss
Leyland
Preston
PR25 3RJ
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