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Registered number: 10083221
Nitya Infotech Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
SKZ Chartered Certified Accountants
Chartered Certified Accountants
Unit 1,Kataria Point,
1 Riches Road,
Ilford
Essex
IG1 1JH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10083221
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,007 1,259
Investments 5 76,000 76,000
77,007 77,259
CURRENT ASSETS
Debtors 6 436 2,113
Cash at bank and in hand 11,288 31,639
11,724 33,752
Creditors: Amounts Falling Due Within One Year 7 (79,833 ) (87,972 )
NET CURRENT ASSETS (LIABILITIES) (68,109 ) (54,220 )
TOTAL ASSETS LESS CURRENT LIABILITIES 8,898 23,039
Creditors: Amounts Falling Due After More Than One Year 8 (33,172 ) (38,954 )
NET LIABILITIES (24,274 ) (15,915 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (24,374 ) (16,015 )
SHAREHOLDERS' FUNDS (24,274) (15,915)
Page 1
Page 2
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 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 Naga Jyothi KASARLA
Director
13/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nitya Infotech Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10083221 . The registered office is 16 Pontes Avenue, Hounslow, TW3 3FH.
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:
Plant & Machinery 20% Reducing Balance Method
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 1,967
As at 31 March 2024 1,967
Depreciation
As at 1 April 2023 708
Provided during the period 252
As at 31 March 2024 960
Net Book Value
As at 31 March 2024 1,007
As at 1 April 2023 1,259
Page 3
Page 4
5. Investments
Unlisted
£
Cost
As at 1 April 2023 76,000
As at 31 March 2024 76,000
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 76,000
As at 1 April 2023 76,000
6. Debtors
2024 2023
£ £
Due within one year
VAT Recoverable - 2,113
Other taxes and social security 436 -
436 2,113
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 21,600 21,600
Bank loans and overdrafts 446 -
Other taxes and social security - 2,274
VAT 4,143 6,162
Accruals and deferred income 1,360 1,590
Director's loan account 52,284 56,346
79,833 87,972
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 33,172 37,904
Accruals and deferred income - 1,050
33,172 38,954
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4