Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05069221 Mr Kanapathipillai Balasubramaniam Mr Kandasamy Kamalanathan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05069221 2023-03-31 05069221 2024-03-31 05069221 2023-04-01 2024-03-31 05069221 frs-core:CurrentFinancialInstruments 2024-03-31 05069221 frs-core:Non-currentFinancialInstruments 2024-03-31 05069221 frs-core:ComputerEquipment 2024-03-31 05069221 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05069221 frs-core:ComputerEquipment 2023-03-31 05069221 frs-core:FurnitureFittings 2024-03-31 05069221 frs-core:FurnitureFittings 2023-04-01 2024-03-31 05069221 frs-core:FurnitureFittings 2023-03-31 05069221 frs-core:MotorVehicles 2024-03-31 05069221 frs-core:MotorVehicles 2023-04-01 2024-03-31 05069221 frs-core:MotorVehicles 2023-03-31 05069221 frs-core:ShareCapital 2024-03-31 05069221 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05069221 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05069221 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05069221 frs-bus:SmallEntities 2023-04-01 2024-03-31 05069221 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05069221 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05069221 1 2023-04-01 2024-03-31 05069221 frs-bus:Director1 2023-04-01 2024-03-31 05069221 frs-bus:Director2 2023-04-01 2024-03-31 05069221 frs-countries:EnglandWales 2023-04-01 2024-03-31 05069221 2022-03-31 05069221 2023-03-31 05069221 2022-04-01 2023-03-31 05069221 frs-core:CurrentFinancialInstruments 2023-03-31 05069221 frs-core:Non-currentFinancialInstruments 2023-03-31 05069221 frs-core:ShareCapital 2023-03-31 05069221 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05069221
Bala Impex Limited
Financial Statements
For The Year Ended 31 March 2024
Tamsons Accounting & Tax Consultancy Ltd
Financial Accountants'
53-55 College Road
Bromley
Kent
BR1 3QG
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Directors Mr Kanapathipillai Balasubramaniam
Mr Kandasamy Kamalanathan
Company Number 05069221
Registered Office STAND 77
Market Pavilion
New Spitafields Market
London
E10 5SL
Business STAND 77 MARKET PAVILON
NEW SPITALFIELDS MARKET
LONDON
E10 5SL
Accountants Tamsons Accounting & Tax Consultancy Ltd
Financial Accountants'
53-55 College Road
Bromley
Kent
BR1 3QG
Page 1
Page 2
Balance Sheet
Registered number: 05069221
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 78,956 96,287
78,956 96,287
CURRENT ASSETS
Stocks 5 119,840 327,665
Debtors 6 383,890 146,560
Cash at bank and in hand 810,471 601,957
1,314,201 1,076,182
Creditors: Amounts Falling Due Within One Year 7 (284,094 ) (40,221 )
NET CURRENT ASSETS (LIABILITIES) 1,030,107 1,035,961
TOTAL ASSETS LESS CURRENT LIABILITIES 1,109,063 1,132,248
Creditors: Amounts Falling Due After More Than One Year 8 - (179,988 )
NET ASSETS 1,109,063 952,260
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,108,963 952,160
SHAREHOLDERS' FUNDS 1,109,063 952,260
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kandasamy Kamalanathan
Director
16/09/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Bala Impex Limited Registered number 05069221 is a limited by shares company incorporated in England & Wales. The Registered Office is STAND 77, Market Pavilion, New Spitafields Market, London, E10 5SL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% @cost
Fixtures & Fittings 20%@cost
Computer Equipment 20%@WDV
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 22)
22 22
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 97,992 31,630 10,853 140,475
As at 31 March 2024 97,992 31,630 10,853 140,475
Depreciation
As at 1 April 2023 36,770 2,823 4,595 44,188
Provided during the period 11,020 5,185 1,126 17,331
As at 31 March 2024 47,790 8,008 5,721 61,519
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 50,202 23,622 5,132 78,956
As at 1 April 2023 61,222 28,807 6,258 96,287
5. Stocks
2024 2023
£ £
Materials 119,840 327,665
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 377,458 138,450
VAT 6,432 8,110
383,890 146,560
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 195,851 1
Corporation tax 53,092 31,749
Other taxes and social security - 6,193
Other creditors 34,225 1,317
Directors' loan accounts 926 961
284,094 40,221
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans-Funding Circle - 179,988
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
Page 5