Company registration number SC684842 (Scotland)
SIMON RAVICHANDRAN CONSULTANCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
SIMON RAVICHANDRAN CONSULTANCY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SIMON RAVICHANDRAN CONSULTANCY LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
31 January 2024
30 September 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,704
Current assets
Debtors
4
148,434
33,574
Cash at bank and in hand
45,770
69,873
194,204
103,447
Creditors: amounts falling due within one year
5
(122,433)
(88,951)
Net current assets
71,771
14,496
Total assets less current liabilities
73,475
14,496
Provisions for liabilities
(426)
Net assets
73,049
14,496
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
73,048
14,495
Total equity
73,049
14,496
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 October 2024
Mr S Ravichandran
Director
Company Registration No. SC684842
SIMON RAVICHANDRAN CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information
Simon Ravichandran Consultancy Ltd is a private company limited by shares incorporated in Scotland. The registered office is 20 Hamilton Road, Bothwell, Glasgow, United Kingdom, G71 8NA.
1.1
Reporting period
The financial statements are presented for a period which is greater than one year, for this reason past and future periods are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
SIMON RAVICHANDRAN CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2022
Number
Number
Total
SIMON RAVICHANDRAN CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
- 4 -
3
Tangible fixed assets
Computers
£
Cost
At 1 October 2022
Additions
1,957
At 31 January 2024
1,957
Depreciation and impairment
At 1 October 2022
Depreciation charged in the period
253
At 31 January 2024
253
Carrying amount
At 31 January 2024
1,704
At 30 September 2022
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
28,725
Amounts owed by group undertakings
147,594
Other debtors
840
4,849
148,434
33,574
5
Creditors: amounts falling due within one year
2024
2022
£
£
Trade creditors
12
Amounts owed to group undertakings
69,222
Taxation and social security
27,640
17,474
Other creditors
94,781
2,255
122,433
88,951
SIMON RAVICHANDRAN CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
- 5 -
6
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
10
10
1
1
7
Related party transactions
2024
2022
Amounts due to related parties
£
£
Other related parties
92,566
69,377
The above loans are unsecured, interest free and have no fixed terms of repayment.
The following amounts were outstanding at the reporting end date:
2024
2022
Amounts due from related parties
£
£
Other related parties
147,594
-
8
Parent company
The company is a 100% subsidiary of Megadodo Holding Ltd, a company in which the director controls 50%.