2023-02-012024-01-312024-01-31false05027453S PANDIT DEVELOPMENTS 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S PANDIT DEVELOPMENTS LIMITED

Registered Number
05027453
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

S PANDIT DEVELOPMENTS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

PANDIT, Sarang

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

05027453 (England and Wales)
S PANDIT DEVELOPMENTS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,7765,033
3,7765,033
Current assets
Debtors443,182109,578
Cash at bank and on hand275,663148,771
318,845258,349
Creditors amounts falling due within one year5(92,952)(63,927)
Net current assets (liabilities)225,893194,422
Total assets less current liabilities229,669199,455
Creditors amounts falling due after one year6(2,762)(12,653)
Provisions for liabilities7(944)(956)
Accruals and deferred income(1,610)(780)
Net assets224,353185,066
Capital and reserves
Called up share capital100100
Profit and loss account224,253184,966
Shareholders' funds224,353185,066
The financial statements were approved and authorised for issue by the Director on 16 August 2024, and are signed on its behalf by:
PANDIT, Sarang
Director
Registered Company No. 05027453
S PANDIT DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Vehicles25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 February 231,27524,2001,18426,659
At 31 January 241,27524,2001,18426,659
Depreciation and impairment
At 01 February 231,24819,97740121,626
Charge for year51,0561961,257
At 31 January 241,25321,03359722,883
Net book value
At 31 January 24223,1675873,776
At 31 January 23274,2237835,033
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables22,47688,873
Other debtors20,70620,705
Total43,182109,578
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts27,55623,009
Taxation and social security65,38840,911
Other creditors87
Total92,95263,927
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,76212,653
Total2,76212,653
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)944956
Total944956
8.Controlling party
The company is controlled by its director, S Pandit, by virtue of his ownership of 100% of the issued share capital.