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Company Registration No. 14275972 (England and Wales)
Schbang Digital Solutions Private Limited Unaudited accounts for the year ended 31 March 2024
Schbang Digital Solutions Private Limited Unaudited accounts Contents
Page
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Schbang Digital Solutions Private Limited Company Information for the year ended 31 March 2024
Directors
GURNANI, Akshay KARIA, Harshil KARIA, Sohil CHHABRIA, Viren
Company Number
14275972 (England and Wales)
Registered Office
71-75 Shelton Street Covent Garden London WC2H 9JQ United Kingdom
Accountants
Sleek Accounting Ltd 107 Kirkgate Leeds West Yorkshire LS1 6DP
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Schbang Digital Solutions Private Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
266 
430 
Current assets
Debtors
45,623 
4,920 
Cash at bank and in hand
20,095 
7,305 
65,718 
12,225 
Creditors: amounts falling due within one year
(344,238)
(111,552)
Net current liabilities
(278,520)
(99,327)
Net liabilities
(278,254)
(98,897)
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
(278,454)
(99,097)
Shareholders' funds
(278,254)
(98,897)
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by
CHHABRIA, Viren Director Company Registration No. 14275972
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Schbang Digital Solutions Private Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Schbang Digital Solutions Private Limited is a private company, limited by shares, registered in England and Wales, registration number 14275972. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 year straight line
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Audit exemption statement:
For the year ending 31st 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 of its accounts for the year in question in accordance with section 476. 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 in accordance with the provisions applicable to companies subject to the small companies’ regime.
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Schbang Digital Solutions Private Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
499 
At 31 March 2024
499 
Depreciation
At 1 April 2023
69 
Charge for the year
164 
At 31 March 2024
233 
Net book value
At 31 March 2024
266 
At 31 March 2023
430 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
45,623 
4,720 
Other debtors
- 
200 
45,623 
4,920 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,262 
3,721 
Trade creditors
44,359 
6,535 
Amounts owed to group undertakings and other participating interests
287,365 
- 
Taxes and social security
3,559 
8,117 
Other creditors
7,693 
90,870 
Accruals
- 
2,309 
344,238 
111,552 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
200,000 Ordinary shares of £0.001 each
200 
200 
8
Transactions with related parties
Included in creditors is an amount of £287,365 (2023: £90,870) owed to Schbang Digital Solutions Private Limited, an entity controlled by a director of the company. The amount is unsecured, interest bearing and repayable on demand.
9
Controlling party
The company is a wholly owned subsidiary of Schbang Digital Solutions Private Limited, which is the ultimate controlling party.
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Schbang Digital Solutions Private Limited Notes to the Accounts for the year ended 31 March 2024
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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