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REGISTERED NUMBER: 04719888 (England and Wales)


Financial Statements for the Year Ended 31 March 2024

for

Prabins Limited

Prabins Limited (Registered number: 04719888)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Prabins Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr Bipin Patel
Mrs Nayna Patel





SECRETARY: Mr Bipin Patel





REGISTERED OFFICE: Bridge House
9-13 Holbrook Lane
Coventry
West Midlands
CV6 4AD





REGISTERED NUMBER: 04719888 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Prabins Limited (Registered number: 04719888)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 36,100 36,100
Property, plant and equipment 5 2,283 3,045
38,383 39,145

CURRENT ASSETS
Inventories 54,910 54,779
Debtors 6 1,074 360
Cash at bank and in hand 24,348 37,962
80,332 93,101
CREDITORS
Amounts falling due within one year 7 64,849 56,377
NET CURRENT ASSETS 15,483 36,724
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,866

75,869

CREDITORS
Amounts falling due after more than one
year

8

28,341

37,732
NET ASSETS 25,525 38,137

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 25,523 38,135
SHAREHOLDERS' FUNDS 25,525 38,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Prabins Limited (Registered number: 04719888)

Statement of Financial Position - continued
31 March 2024


The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Mr Bipin Patel - Director


Prabins Limited (Registered number: 04719888)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Prabins Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net sales of goods excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 36,100
NET BOOK VALUE
At 31 March 2024 36,100
At 31 March 2023 36,100

Prabins Limited (Registered number: 04719888)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 70,881
DEPRECIATION
At 1 April 2023 67,836
Charge for year 762
At 31 March 2024 68,598
NET BOOK VALUE
At 31 March 2024 2,283
At 31 March 2023 3,045

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 360 360
Other debtors 714 -
1,074 360

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 18,617 -
Trade creditors 4,051 7,973
Taxation and social security 14,400 9,591
Other creditors 27,781 38,813
64,849 56,377

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 28,341 37,732

Prabins Limited (Registered number: 04719888)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

10. RELATED PARTY DISCLOSURES

During the year, the company has to pay rent of £6,300 (2023 £6,300) in respect of "9-11 Gaythorn Road, Bradford, Yorkshire, BD5 7ES" being the business property owned by the directors.