Registered number
05392923
(England & Wales)
HARISH THAKRAR LIMITED
Unaudited Filleted Accounts
for the year ended 30 April 2024
HARISH THAKRAR LIMITED
Registered number: 05392923
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 75,600 87,600
Tangible assets 4 37,810 46,398
113,410 133,998
Current assets
Debtors 5 189,512 176,909
Cash at bank and in hand 119,513 153,036
309,025 329,945
Creditors: amounts falling due within one year 6 (144,476) (155,803)
Net current assets 164,549 174,142
Total assets less current liabilities 277,959 308,140
Creditors: amounts falling due after more than one year 7 (10,833) (20,921)
Provisions for liabilities (9,455) (11,600)
Net assets 257,671 275,619
Capital and reserves
Called up share capital 100 100
Profit and loss account 257,571 275,519
Shareholders' funds 257,671 275,619
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K H Thakrar
Director
Approved by the board on 26 November 2024
HARISH THAKRAR LIMITED
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and equipment 25% per annum on reducing balance basis
Motor vehicles 25% per annum on reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 300,000
At 30 April 2024 300,000
Amortisation
At 1 May 2023 212,400
Provided during the year 12,000
At 30 April 2024 224,400
Net book value
At 30 April 2024 75,600
At 30 April 2023 87,600
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Fixtures and equipment Motor vehicles Total
£ £ £
Cost
At 1 May 2023 42,764 65,500 108,264
Additions 4,015 - 4,015
At 30 April 2024 46,779 65,500 112,279
Depreciation
At 1 May 2023 33,210 28,656 61,866
Charge for the year 3,392 9,211 12,603
At 30 April 2024 36,602 37,867 74,469
Net book value
At 30 April 2024 10,177 27,633 37,810
At 30 April 2023 9,554 36,844 46,398
5 Debtors 2024 2023
£ £
Trade debtors 24,711 53,787
Amounts recoverable on contracts 26,508 26,229
Staff loans 1,752 2,352
Loans to related parties (companies with common directors and control) which are unsecured, interest free and repayable on demand 136,541 94,541
189,512 176,909
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 9,960
Trade creditors 8,747 10,094
Taxation and social security costs 46,907 51,895
Shareholders' loan accounts 78,822 83,854
144,476 155,803
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,833 20,921
8 Controlling party
The company was under control of director, Mr K H Thakrar, by virtue of his beneficial ownership of 51% of the issued ordinary share capital.
9 Other information
HARISH THAKRAR LIMITED is a private company limited by shares and incorporated in England. The accounts are presented in sterling which is the functional currency of the company. The company's registered office is:
29-31 Finedon Road
Wellingborough
Northants
NN8 4AS
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