Acorah Software Products - Accounts Production 16.0.110 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 13017963 Mr Arunachalam Jegaradsan Mr Abdul Siddeek Abdul Careem Mohamed Siddeek and Arunachalam Jegaradsan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13017963 2022-11-30 13017963 2023-11-30 13017963 2022-12-01 2023-11-30 13017963 frs-core:CurrentFinancialInstruments 2023-11-30 13017963 frs-core:Non-currentFinancialInstruments 2023-11-30 13017963 frs-core:ShareCapital 2023-11-30 13017963 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 13017963 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13017963 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 13017963 frs-bus:SmallEntities 2022-12-01 2023-11-30 13017963 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 13017963 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 13017963 1 2022-12-01 2023-11-30 13017963 frs-bus:Director1 2022-12-01 2023-11-30 13017963 frs-bus:Director2 2022-12-01 2023-11-30 13017963 frs-countries:EnglandWales 2022-12-01 2023-11-30 13017963 2021-11-30 13017963 2022-11-30 13017963 2021-12-01 2022-11-30 13017963 frs-core:CurrentFinancialInstruments 2022-11-30 13017963 frs-core:Non-currentFinancialInstruments 2022-11-30 13017963 frs-core:ShareCapital 2022-11-30 13017963 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 13017963 frs-core:CurrentFinancialInstruments 3 2022-11-30
Registered number: 13017963
Raasi Mahal Ltd
Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13017963
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 443,372 442,372
443,372 442,372
CURRENT ASSETS
Stocks 5 533,511 537,110
Debtors 6 60,000 -
Cash at bank and in hand 167,102 550
760,613 537,660
Creditors: Amounts Falling Due Within One Year 7 (513,601 ) (664,660 )
NET CURRENT ASSETS (LIABILITIES) 247,012 (127,000 )
TOTAL ASSETS LESS CURRENT LIABILITIES 690,384 315,372
Creditors: Amounts Falling Due After More Than One Year 8 (693,200 ) (318,200 )
NET LIABILITIES (2,816 ) (2,828 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (2,916 ) (2,928 )
SHAREHOLDERS' FUNDS (2,816) (2,828)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Abdul Siddeek
Director
26 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Raasi Mahal Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13017963 . The registered office is 1 Old Oak Avenue, Chipstead, Coulsdon, CR5 3PG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 4)
2 4
4. Investment Property
2023
£
Fair Value
As at 1 December 2022 442,372
Additions 1,000
As at 30 November 2023 443,372
5. Stocks
2023 2022
£ £
Closing Stock development property 533,511 537,110
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 60,000 -
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 -
Other creditors - 2,500
Bridging Loan - 150,000
Accruals and deferred income 3,600 2,160
Directors' loan accounts 510,000 510,000
513,601 664,660
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 693,200 318,200
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Included in the other debtors is a loan of £60,000 to Pics Investments Ltd, a company in which Mr Abdul Careem Mohamed Siddeek is a Director.
11. Ultimate Controlling Party
The company's ultimate controlling party are Abdul Careem Mohamed Siddeek and Arunachalam Jegaradsan by virtue of their ownership of 100% of the issued share capital in the company.
12. Fixed Charges on Property
Bank of Ceylon holds First legal charge over 18 Montague Road, Croydon CR0 3SS.
Paragon Bank plc holds charge over 119 Weston Road Guilford GU2 8AW.
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