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Registered number: 12443632
Bharathi Sanghani Ltd
Financial Statements
For The Year Ended 30 April 2024
Nuvo Accountancy Limited
Chartered Certified Accountants
7 Faraday Court
First Avenue
Burton Upon Trent
Staffordshire
DE14 2WX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12443632
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 758 1,011
758 1,011
CURRENT ASSETS
Cash at bank and in hand 27,701 22,648
27,701 22,648
Creditors: Amounts Falling Due Within One Year 5 (14,789 ) (18,265 )
NET CURRENT ASSETS (LIABILITIES) 12,912 4,383
TOTAL ASSETS LESS CURRENT LIABILITIES 13,670 5,394
NET ASSETS 13,670 5,394
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account 13,669 5,393
SHAREHOLDERS' FUNDS 13,670 5,394
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs B Sanghani
Director
9 October 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bharathi Sanghani Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12443632 . The registered office is 7 Faraday Court, First Avenue, Burton on Trent, Staffordshire, DE14 2WX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Computer Equipment 25% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 1,375
As at 30 April 2024 1,375
Depreciation
As at 1 May 2023 364
Provided during the period 253
As at 30 April 2024 617
Net Book Value
As at 30 April 2024 758
As at 1 May 2023 1,011
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18 -
Corporation tax 7,374 5,693
Other creditors 6,475 7,925
Accruals and deferred income 720 780
Director's loan account 202 3,867
14,789 18,265
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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