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Registered Number: 11254538
England and Wales

 

 

 

PRASAM IT SERVICES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 8,248    3,621 
8,248    3,621 
Current assets      
Debtors: amounts falling due within one year 13,190    1,310 
Cash at bank and in hand 20,662    96,059 
33,852    97,369 
Creditors: amount falling due within one year (45,858)   (51,187)
Net current assets (12,006)   46,182 
 
Total assets less current liabilities (3,758)   49,803 
Creditors: amount falling due after more than one year (20,505)   (23,939)
Net assets (24,263)   25,864 
 

Capital and reserves
     
Called up share capital 20    20 
Profit and loss account (24,283)   25,844 
Shareholders' funds (24,263)   25,864 
 


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.

Directors' 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 directors acknowledge 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 board of directors on 17 December 2024 and were signed on its behalf by:


-------------------------------
Naveen Kumar YAMAGANI
Director
1
General Information
PRASAM IT SERVICES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11254538, registration address Castlemill Burnt Tree, Tipton, West Midlands, DY4 7UF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
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:
Plant and Machinery 5 years Straight Line
Fixtures and Fittings 5 years Straight Line
Computer Equipment 3 years Straight Line
2.

Average number of employees

Average number of employees during the year was 16 (2023 : 11).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2023   2,490    3,077    5,567 
Additions 3,701      3,381    7,082 
Disposals      
At 31 March 2024 3,701    2,490    6,458    12,649 
Depreciation
At 01 April 2023   42    1,905    1,947 
Charge for year 555    498    1,401    2,454 
On disposals      
At 31 March 2024 555    540    3,306    4,401 
Net book values
Closing balance as at 31 March 2024 3,146    1,950    3,152    8,248 
Opening balance as at 01 April 2023   2,449    1,172    3,621 


2