6 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 01847013 2023-04-01 2024-03-31 01847013 2024-03-31 01847013 2023-03-31 01847013 2022-04-01 2023-03-31 01847013 2023-03-31 01847013 2022-03-31 01847013 core:PlantMachinery 2023-04-01 2024-03-31 01847013 bus:RegisteredOffice 2023-04-01 2024-03-31 01847013 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 01847013 bus:Director1 2023-04-01 2024-03-31 01847013 bus:Director2 2023-04-01 2024-03-31 01847013 bus:CompanySecretary1 2023-04-01 2024-03-31 01847013 core:WithinOneYear 2024-03-31 01847013 core:WithinOneYear 2023-03-31 01847013 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 01847013 core:PlantMachinery 2023-03-31 01847013 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 01847013 core:PlantMachinery 2024-03-31 01847013 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 01847013 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 01847013 core:ShareCapital 2024-03-31 01847013 core:ShareCapital 2023-03-31 01847013 core:RetainedEarningsAccumulatedLosses 2024-03-31 01847013 core:RetainedEarningsAccumulatedLosses 2023-03-31 01847013 core:ShareCapital 2022-03-31 01847013 core:RetainedEarningsAccumulatedLosses 2022-03-31 01847013 core:PreviouslyStatedAmount core:ShareCapital 2024-03-31 01847013 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 01847013 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 01847013 core:Non-currentFinancialInstruments 2024-03-31 01847013 core:Non-currentFinancialInstruments 2023-03-31 01847013 core:PlantMachinery 2023-03-31 01847013 bus:Director1 2023-03-31 01847013 bus:Director1 2024-03-31 01847013 bus:Director2 2023-03-31 01847013 bus:Director2 2024-03-31 01847013 bus:Director1 2022-03-31 01847013 bus:Director1 2023-03-31 01847013 bus:Director2 2022-03-31 01847013 bus:Director2 2023-03-31 01847013 bus:Director1 2022-04-01 2023-03-31 01847013 bus:Director2 2022-04-01 2023-03-31 01847013 bus:SmallEntities 2023-04-01 2024-03-31 01847013 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01847013 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01847013 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01847013 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 01847013
Arvind Jobanputra Insurance Services Ltd
Unaudited filleted financial statements
31 March 2024
Arvind Jobanputra Insurance Services Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Arvind Jobanputra Insurance Services Ltd
Directors and other information
Directors Mrs S Jobanputra
Mr R Jobanputra
Secretary S Jobanputra
Company number 01847013
Registered office Suite 1, Congress House
Lyon Road
Harrow
Middx HA1 2EN
Business address Suite 1, Congress House
Lyon Road
Harrow
Middx HA1 2EN
Accountants Nagle James Associates Ltd
4th Floor, Kings Suite
15 College Road
Harrow
Middlesex HA1 1BA
Bankers The Royal Bank of Scotland plc
London, Great Tower St Office
5-10 Great Tower Street
London EC3P 3HX
Arvind Jobanputra Insurance Services Ltd
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 57,321 72,811
Investments 6 1,060,000 1,060,000
_______ _______
1,117,321 1,132,811
Current assets
Debtors 7 1,575,705 1,419,851
Cash at bank and in hand 2,682,436 2,518,043
_______ _______
4,258,141 3,937,894
Creditors: amounts falling due
within one year 8 ( 793,794) ( 601,469)
_______ _______
Net current assets 3,464,347 3,336,425
_______ _______
Total assets less current liabilities 4,581,668 4,469,236
Provisions for liabilities ( 113,331) ( 110,078)
_______ _______
Net assets 4,468,337 4,359,158
_______ _______
Capital and reserves
Called up share capital 300 300
Fair value reserve 9 409,506 409,506
Profit and loss account 9 4,058,531 3,949,352
_______ _______
Shareholders funds 4,468,337 4,359,158
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge 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 04 November 2024 , and are signed on behalf of the board by:
Mr R Jobanputra
Director
Company registration number: 01847013
Arvind Jobanputra Insurance Services Ltd
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 1 April 2022 300 409,506 3,811,161 4,220,967
Profit for the year 362,691 362,691
_______ _______ _______ _______
Total comprehensive income for the year - - 362,691 362,691
Dividends paid and payable ( 224,500) ( 224,500)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 224,500) ( 224,500)
_______ _______ _______ _______
At 31 March 2023 and 1 April 2023 300 409,506 3,949,352 4,359,158
Profit for the year 252,179 252,179
_______ _______ _______ _______
Total comprehensive income for the year - - 252,179 252,179
Dividends paid and payable ( 143,000) ( 143,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 143,000) ( 143,000)
_______ _______ _______ _______
At 31 March 2024 300 409,506 4,058,531 4,468,337
_______ _______ _______ _______
Arvind Jobanputra Insurance Services Ltd
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Suite 1, Congress House, Lyon Road, Harrow, Middx HA1 2EN.
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 services rendered, net of discounts and Value Added Tax. Revenue is recognised to the extent that it is probable that the 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:
Leasehold property - Straight line over the life of the lease
Plant and machinery - 25 % 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Tangible assets
Short leasehold property Plant and machinery Total
£ £ £
Cost
At 1 April 2023 3,046 92,207 95,253
Additions - 3,381 3,381
_______ _______ _______
At 31 March 2024 3,046 95,588 98,634
_______ _______ _______
Depreciation
At 1 April 2023 3,046 19,396 22,442
Charge for the year - 18,871 18,871
_______ _______ _______
At 31 March 2024 3,046 38,267 41,313
_______ _______ _______
Carrying amount
At 31 March 2024 - 57,321 57,321
_______ _______ _______
At 31 March 2023 - 72,811 72,811
_______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 April 2023 and 31 March 2024 1,060,000 1,060,000
_______ _______
Impairment
At 1 April 2023 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 1,060,000 1,060,000
_______ _______
At 31 March 2023 1,060,000 1,060,000
_______ _______
The letting agents had carried out a valuation of the investment properties as at 31 March 2022.
7. Debtors
2024 2023
£ £
Trade debtors 251,841 152,425
Prepayments and accrued income 33,099 34,701
Other debtors 1,290,765 1,232,725
_______ _______
1,575,705 1,419,851
_______ _______
Other debtors includes advances to directors disclosed in note 11.
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 421,032 455,860
Accruals and deferred income 54,606 70,794
Corporation tax 107,756 72,149
Social security and other taxes 3,263 2,666
_______ _______
793,794 601,469
_______ _______
9. Reserves
Called-up share capital - represents the nominal value of shares that have been issued.Profit and loss account - includes all current and prior period retained profits and losses.
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs S Jobanputra 214,895 41,117 256,012
Mr R Jobanputra 282,362 50,213 332,575
_______ _______ _______
497,257 91,330 588,587
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs S Jobanputra 210,117 4,778 214,895
Mr R Jobanputra 279,840 2,522 282,362
_______ _______ _______
489,957 7,300 497,257
_______ _______ _______