IRIS Accounts Production v24.3.2.46 SC503409 director 6.4.23 5.4.24 5.4.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5034092023-04-05SC5034092024-04-05SC5034092023-04-062024-04-05SC5034092022-04-05SC5034092022-04-062023-04-05SC5034092023-04-05SC503409ns15:Scotland2023-04-062024-04-05SC503409ns14:PoundSterling2023-04-062024-04-05SC503409ns10:Director12023-04-062024-04-05SC503409ns10:PrivateLimitedCompanyLtd2023-04-062024-04-05SC503409ns10:SmallEntities2023-04-062024-04-05SC503409ns10:AuditExempt-NoAccountantsReport2023-04-062024-04-05SC503409ns10:SmallCompaniesRegimeForDirectorsReport2023-04-062024-04-05SC503409ns10:SmallCompaniesRegimeForAccounts2023-04-062024-04-05SC503409ns10:FullAccounts2023-04-062024-04-05SC50340912023-04-062024-04-05SC503409ns10:OrdinaryShareClass12023-04-062024-04-05SC503409ns10:CompanySecretary12023-04-062024-04-05SC503409ns10:RegisteredOffice2023-04-062024-04-05SC503409ns5:CurrentFinancialInstruments2024-04-05SC503409ns5:CurrentFinancialInstruments2023-04-05SC503409ns5:Non-currentFinancialInstruments2024-04-05SC503409ns5:Non-currentFinancialInstruments2023-04-05SC503409ns5:ShareCapital2024-04-05SC503409ns5:ShareCapital2023-04-05SC503409ns5:RetainedEarningsAccumulatedLosses2024-04-05SC503409ns5:RetainedEarningsAccumulatedLosses2023-04-05SC503409ns5:NetGoodwill2023-04-062024-04-05SC503409ns5:IntangibleAssetsOtherThanGoodwill2023-04-062024-04-05SC503409ns5:PlantMachinery2023-04-062024-04-05SC503409ns5:NetGoodwill2023-04-05SC503409ns5:NetGoodwill2024-04-05SC503409ns5:NetGoodwill2023-04-05SC503409ns5:PlantMachinery2023-04-05SC503409ns5:PlantMachinery2024-04-05SC503409ns5:PlantMachinery2023-04-05SC503409ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-05SC503409ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-05SC503409ns5:Secured2024-04-05SC503409ns5:Secured2023-04-05SC503409ns10:OrdinaryShareClass12024-04-05
REGISTERED NUMBER: SC503409 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

FOR

PRASAD (FR) LTD

PRASAD (FR) LTD (REGISTERED NUMBER: SC503409)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRASAD (FR) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTOR: S P Appanna Nagendran





SECRETARY: Mrs S Gnani Ramadoss





REGISTERED OFFICE: 12 Market Hill
Ellon
Aberdeenshire
AB41 8BP





REGISTERED NUMBER: SC503409 (Scotland)

PRASAD (FR) LTD (REGISTERED NUMBER: SC503409)

BALANCE SHEET
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 105,170 131,645
Tangible assets 6 9,355 11,700
114,525 143,345

CURRENT ASSETS
Stocks 5,000 4,200
Debtors 7 45,115 41,811
Cash at bank and in hand 200,750 420,554
250,865 466,565
CREDITORS
Amounts falling due within one year 8 92,932 251,473
NET CURRENT ASSETS 157,933 215,092
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,458

358,437

CREDITORS
Amounts falling due after more than one
year

9

(79,423

)

(180,339

)

PROVISIONS FOR LIABILITIES (2,326 ) (2,211 )
NET ASSETS 190,709 175,887

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 190,609 175,787
SHAREHOLDERS' FUNDS 190,709 175,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PRASAD (FR) LTD (REGISTERED NUMBER: SC503409)

BALANCE SHEET - continued
5 APRIL 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 director and authorised for issue on 24 December 2024 and were signed by:





S P Appanna Nagendran - Director


PRASAD (FR) LTD (REGISTERED NUMBER: SC503409)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1. STATUTORY INFORMATION

Prasad (FR) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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 - 20% on reducing balance

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


PRASAD (FR) LTD (REGISTERED NUMBER: SC503409)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 6 April 2023
and 5 April 2024 264,745
AMORTISATION
At 6 April 2023 133,100
Charge for year 26,475
At 5 April 2024 159,575
NET BOOK VALUE
At 5 April 2024 105,170
At 5 April 2023 131,645

PRASAD (FR) LTD (REGISTERED NUMBER: SC503409)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 April 2023
and 5 April 2024 26,156
DEPRECIATION
At 6 April 2023 14,456
Charge for year 2,345
At 5 April 2024 16,801
NET BOOK VALUE
At 5 April 2024 9,355
At 5 April 2023 11,700

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,115 41,811

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 24,302 65,209
Taxation and social security 56,008 45,019
Other creditors 7,622 136,245
92,932 251,473

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 79,423 83,339
Other creditors - 97,000
79,423 180,339

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 59,423 63,339

PRASAD (FR) LTD (REGISTERED NUMBER: SC503409)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 84,423 88,339

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100