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Registered Number: 04644572
England and Wales

 

 

 

AASHA (RETAIL) LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Report to the directors on the preparation of the unaudited statutory accounts of Aasha (Retail) Ltd for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aasha (Retail) Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/

This report is made solely to the Board of Directors of Aasha (Retail) Ltd, as a body, in accordance with the terms of our engagement letter dated 23 September 2023 Our work has been undertaken solely to prepare for your approval the accounts of Aasha (Retail) Ltd and state those matters that we have agreed to state to the Board of Directors of Aasha (Retail) Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aasha (Retail) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Aasha (Retail) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Aasha (Retail) Ltd. You consider that Aasha (Retail) Ltd is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of Aasha (Retail) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2024



....................................................
Bharat D Hathi Ltd
Portsmouth Technopole
Kingston Crescent
Portsmouth
Hampshire
PO2 8FA
20 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 136,102    152,691 
Investments 5 210,870    327,850 
346,972    480,541 
Current assets      
Stocks 70,002    64,482 
Debtors 167,969    162,458 
Cash at bank and in hand 425,180    216,444 
663,151    443,384 
Creditors: amount falling due within one year (475,006)   (385,941)
Net current assets 188,145    57,443 
 
Total assets less current liabilities 535,117    537,984 
Net assets 535,117    537,984 
 

Capital and reserves
     
Called up share capital 6 200    200 
Profit and loss account 534,917    537,784 
Shareholders' funds 535,117    537,984 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 20 November 2024 and were signed by:


-------------------------------
Mita Thakrar
Director
2
General Information
Aasha (Retail) Ltd is a private company, limited by shares, registered in England and Wales, registration number 04644572, registration address 46 Greywell Road, PO9 5AL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 16 (2023 : 10).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 30,000    30,000 
Additions  
Disposals  
At 31 March 2024 30,000    30,000 
Amortisation
At 01 April 2023 30,000    30,000 
Charge for year  
On disposals  
At 31 March 2024 30,000    30,000 
Net book values
At 31 March 2024  
At 31 March 2023  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £
At 01 April 2023 193,353    20,024    11,580    224,957 
Additions   1,344      1,344 
Disposals      
At 31 March 2024 193,353    21,368    11,580    226,301 
Depreciation
At 01 April 2023 60,601    11,665      72,266 
Charge for year 15,891    2,042      17,933 
On disposals      
At 31 March 2024 76,492    13,707      90,199 
Net book values
Closing balance as at 31 March 2024 116,861    7,661    11,580    136,102 
Opening balance as at 01 April 2023 174,990    (33,879)   11,580    152,691 

The net book value of Land and Buildings includes £ 11,580 (2023 £11,580) in respect of assets leased under finance leases or hire purchase contracts.

5.

Investments

Cost Other investments other than loans   Loans to group undertakings   Total
  £   £   £
At 01 April 2023   327,850    327,850 
Additions 46,718      46,718 
Transfer to/from tangible fixed assets    
Disposals   (163,698)   (163,698)
At 31 March 2024 46,718    164,152    210,870 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100 Class B shares of £1.00 each 100    100 
200    200 

3