Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 09411005 Mr Anand Chinthala Mr Brahmananda Peram Dr Venkateshwarlu Gattu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09411005 2023-01-31 09411005 2024-01-31 09411005 2023-02-01 2024-01-31 09411005 frs-core:CurrentFinancialInstruments 2024-01-31 09411005 frs-core:Non-currentFinancialInstruments 2024-01-31 09411005 frs-core:FurnitureFittings 2024-01-31 09411005 frs-core:FurnitureFittings 2023-02-01 2024-01-31 09411005 frs-core:FurnitureFittings 2023-01-31 09411005 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 09411005 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09411005 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 09411005 frs-core:RevaluationReserve 2023-01-31 09411005 frs-core:RevaluationReserve 2024-01-31 09411005 frs-core:ShareCapital 2024-01-31 09411005 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 09411005 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09411005 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 09411005 frs-bus:SmallEntities 2023-02-01 2024-01-31 09411005 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09411005 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09411005 frs-bus:Director1 2023-02-01 2024-01-31 09411005 frs-bus:Director2 2023-02-01 2024-01-31 09411005 frs-bus:Director3 2023-02-01 2024-01-31 09411005 frs-core:CurrentFinancialInstruments 1 2024-01-31 09411005 frs-core:Non-currentFinancialInstruments 1 2024-01-31 09411005 frs-core:CurrentFinancialInstruments 2 2024-01-31 09411005 frs-core:Non-currentFinancialInstruments 2 2024-01-31 09411005 frs-countries:EnglandWales 2023-02-01 2024-01-31 09411005 2022-01-31 09411005 2023-01-31 09411005 2022-02-01 2023-01-31 09411005 frs-core:CurrentFinancialInstruments 2023-01-31 09411005 frs-core:Non-currentFinancialInstruments 2023-01-31 09411005 frs-core:RevaluationReserve 2023-01-31 09411005 frs-core:ShareCapital 2023-01-31 09411005 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 09411005 frs-core:CurrentFinancialInstruments 1 2023-01-31 09411005 frs-core:Non-currentFinancialInstruments 1 2023-01-31 09411005 frs-core:CurrentFinancialInstruments 2 2023-01-31 09411005 frs-core:Non-currentFinancialInstruments 2 2023-01-31
Registered number: 09411005
SRI DEV LTD
Unaudited Financial Statements
For The Year Ended 31 January 2024
TaxAssist Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09411005
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,065,944 1,065,944
1,065,944 1,065,944
CURRENT ASSETS
Debtors 5 - 845
Cash at bank and in hand 47,045 39,834
47,045 40,679
Creditors: Amounts Falling Due Within One Year 6 (253,601 ) (135,069 )
NET CURRENT ASSETS (LIABILITIES) (206,556 ) (94,390 )
TOTAL ASSETS LESS CURRENT LIABILITIES 859,388 971,554
Creditors: Amounts Falling Due After More Than One Year 7 (612,733 ) (759,947 )
NET ASSETS 246,655 211,607
CAPITAL AND RESERVES
Called up share capital 8 5 5
Revaluation reserve 9 227,866 227,866
Profit and Loss Account 18,784 (16,264 )
SHAREHOLDERS' FUNDS 246,655 211,607
Page 1
Page 2
For the year ending 31 January 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
Dr Venkateshwarlu Gattu
Director
18/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SRI DEV LTD is a private company, limited by shares, incorporated in England & Wales, registered number 09411005 . The registered office is 2 Oriel Court, Sale, M33 7DF.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Freehold over 50 years
Fixtures & Fittings over 5 years
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. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 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. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 4)
- 4
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 1,065,944 7,500 1,073,444
As at 31 January 2024 1,065,944 7,500 1,073,444
Depreciation
As at 1 February 2023 - 7,500 7,500
As at 31 January 2024 - 7,500 7,500
Net Book Value
As at 31 January 2024 1,065,944 - 1,065,944
As at 1 February 2023 1,065,944 - 1,065,944
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 845
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) 2,384
Bank loans and overdrafts 3,900 -
Corporation tax 4,125 -
SBI Bank 0001 131,216 -
Lloyds BBL 3303 4,000 -
Other creditors - Rent Deposit 4,000 -
Accruals and deferred income 127 519
Directors' loan accounts 106,234 132,166
253,601 135,069
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Lloyds Loan 7018 72,967 80,767
SBI Loan 0001 - 131,362
Lloyds BBL Loan 3303 5,333 13,333
Fleet Mortgage 534,433 534,485
612,733 759,947
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
9. Reserves
Revaluation Reserve
£
As at 1 February 2023 227,866
As at 31 January 2024 227,866
Page 5