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Company registration number: 3437218
Asha Agnihotri V. Limited
Unaudited filleted financial statements
31 January 2024
Asha Agnihotri V. Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Asha Agnihotri V. Limited
Directors and other information
Director Vijay Agnihotri
Secretary Asha Agnihotri
Company number 3437218
Registered office Amba House, 4th Floor
15 College Road
Harrow
Middlesex
HA1 1BA
Business address JET Filling Station
400-403 High Street
Brentford
Middlesex
TW8 0DU
Accountants Nagle James Associates Limited
Amba House, 4th Floor
15 College Road
Harrow
HA1 1BA
Asha Agnihotri V. Limited
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 8 29,620 31,795
_______ _______
29,620 31,795
Current assets
Stocks 86,561 119,263
Debtors 9 5,570 5,570
Cash at bank and in hand 757,841 689,976
_______ _______
849,972 814,809
Creditors: amounts falling due
within one year 10 ( 533,404) ( 540,651)
_______ _______
Net current assets 316,568 274,158
_______ _______
Total assets less current liabilities 346,188 305,953
Provisions for liabilities ( 4,944) ( 6,041)
_______ _______
Net assets 341,244 299,912
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 341,242 299,910
_______ _______
Shareholders funds 341,244 299,912
_______ _______
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Vijay Agnihotri
Director
Company registration number: 3437218
Asha Agnihotri V. Limited
Statement of changes in equity
Year ended 31 January 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 February 2022 2 222,578 222,580
Profit for the year 115,332 115,332
_______ _______ _______
Total comprehensive income for the year - 115,332 115,332
Dividends paid and payable ( 38,000) ( 38,000)
_______ _______ _______
Total investments by and distributions to owners - ( 38,000) ( 38,000)
_______ _______ _______
At 31 January 2023 and 1 February 2023 2 299,909 299,911
Profit for the year 66,533 66,533
_______ _______ _______
Total comprehensive income for the year - 66,533 66,533
Dividends paid and payable ( 25,200) ( 25,200)
_______ _______ _______
Total investments by and distributions to owners - ( 25,200) ( 25,200)
_______ _______ _______
At 31 January 2024 2 341,242 341,244
_______ _______ _______
Asha Agnihotri V. Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Amba House, 4th Floor, 15 College Road, Harrow, Middlesex, HA1 1BA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20% % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 12 ).
6. Directors remuneration
The director's aggregate remuneration in respect of qualifying services was:
2024 2023
£ £
Remuneration 13,000 10,940
_______ _______
During the year the highest paid director exercised share options.
7. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 6,505 7,949
_______ _______
8. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 February 2023 157,103 157,103
Additions 4,331 4,331
_______ _______
At 31 January 2024 161,434 161,434
_______ _______
Depreciation
At 1 February 2023 125,309 125,309
Charge for the year 6,505 6,505
_______ _______
At 31 January 2024 131,814 131,814
_______ _______
Carrying amount
At 31 January 2024 29,620 29,620
_______ _______
At 31 January 2023 31,794 31,794
_______ _______
9. Debtors
2024 2023
£ £
Other debtors 5,570 5,570
_______ _______
10. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 211,724 250,185
Accruals and deferred income 26,549 24,399
Corporation tax 18,687 27,809
Social security and other taxes 27,776 27,217
Director loan accounts 247,178 207,676
Other creditors 1,490 3,365
_______ _______
533,404 540,651
_______ _______
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note ) 4,944 6,041
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances ( 1,097) ( 777)
_______ _______
12. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Vijay Agnihotri ( 207,676) ( 39,502) ( 247,178)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Vijay Agnihotri ( 156,306) ( 51,370) ( 207,676)
_______ _______ _______
13. Related party transactions
During the year the company paid £40,000 (2022 : £40,000) of rent for the use of premises provided by the entity in which Mr V Agnihotri and and his associates are partners.