Registration number:
Aranyani Lifestyle Limited
for the Year Ended 31 March 2024
Aranyani Lifestyle Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Aranyani Lifestyle Limited
Company Information
Directors |
Mr H M Mirpuri Miss A M Mirpuri |
Registered office |
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Auditors |
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Aranyani Lifestyle Limited
(Registration number: 13811398)
Balance Sheet as at 31 March 2024
Note |
2024 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2,400,000 |
1,400,000 |
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Retained earnings |
(1,443,649) |
(524,560) |
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Shareholders' funds |
956,351 |
875,440 |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
The financial statements were approved and authorised for issue by the
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Aranyani Lifestyle Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.
Going concern
Based on their assessment of the Company's financial position, the directors have a reasonable expectation that the Company will be able to continue in operational existence for the foreseeable future, being a period of not less than twelve months from the date of approval of these financial statements. This expectation is supported by the immediate parent company, Sai Lakshmi Industries Private Limited, which has confirmed its commitment to continue providing financial support and fulfilling the Company's obligations as they arise, if required.
Audit report
2024-110-UK
Aranyani Lifestyle Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
2 |
Accounting policies (continued) |
Revenue recognition
Turnover represents the fair value of the consideration received or receivable for the sale of products in the ordinary course of the company’s activities. Turnover is recognised net of value-added tax (VAT), returns, rebates, and discounts.
Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, typically at the point of sale, when the customer takes possession of the products. The amount of revenue is recognised when it is probable that future economic benefits will flow to the company and the amount of revenue can be reliably measured.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and Buildings |
Over the life of the lease term |
Furniture, Fixtures & Equipment |
20% straight line method |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials purchased from the group. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Aranyani Lifestyle Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
2 |
Accounting policies (continued) |
Financial instruments
i. Financial assets
Basic financial assets, including trade and other debtors, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method, unless they are receivable within one year. In these instances, assets are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be received.
At the end of each reporting period financial assets are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
Financial instruments (continued)
i. Financial assets (continued)
If there is a decrease in the impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
ii. Financial liabilities
Basic financial liabilities, including trade and other creditors, and amounts due from fellow group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method, unless they are payable within one year. In these instances, assets are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid.
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit or Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Aranyani Lifestyle Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
2 |
Accounting policies (continued) |
Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in conformity with FRS102 Section 1a requires management to make estimates and assumptions that affect the reported amounts of assets and costs that are reported and disclosed in the financial statements and accompanying notes. 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Significant estimates and assumptions - Provisions against stock
At the balance sheet date, the Directors assess whether any stock requires provision, based on available information. Provisions are calculated as the difference between an item's carrying amount and its net realisable value. Factors considered include items paid for by customers but not yet dispatched, inventory turnover (including slow-moving or non-moving stock), and any quality issues. Any adjustments are reflected in the financial statements for the relevant period. At the year end, no stock provisions were made, as all items were considered saleable.
Staff numbers |
The average monthly number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost |
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At 1 April 2023 |
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Additions |
- |
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Disposals |
- |
( |
( |
At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
( |
At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Included within the net book value of land and buildings above is £49,005 (2023 - £55,131) in respect of short leasehold land and buildings.
Aranyani Lifestyle Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Stocks |
2024 |
2023 |
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Finished goods |
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Other inventories |
- |
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Debtors |
2024 |
2023 |
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Other debtors |
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Prepayments |
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Included within other debtors is a refundable rent deposit of £300,000 (2022: £300,000), recoverable after more than one year. In addition, other debtors includes a £150,000 deposit paid by the Company towards the acquisition of a property, expected to complete after more than one year.
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
(As restated) |
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Due within one year |
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Trade creditors |
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Amounts owed to parent undertaking |
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Other creditors |
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Taxation and social security |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
2024 |
(As restated) |
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Due after one year |
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Other creditors |
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Aranyani Lifestyle Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
7 |
Creditors (continued) |
Included within other creditors are amounts relating to the rent-free provision, which is being spread over the life of the lease. As at the year-end, £8,333 is due within one year, and £65,278 is due after one year. The lease has approximately 8.8 years (106 months) remaining.
Prior Year Adjustment
The company has restated other creditors to reflect the correct classification and recalculation of the rent-free provision. As a result of this adjustment:
• Other creditors due within one year have been restated from £95,784 to £9,295.
• Other creditors due after more than one year have been restated from £Nil to £73,611.
Retained earnings have been adjusted from (£537,438) to (£524,560) to reflect the corrected provision and related release as of 31 March 2023, reducing the loss for the previous financial year from £524,770 to £511,892.
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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2,400,000 |
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1,400,000 |
New shares allotted
During the year, the company allotted 1,000,000 Ordinary shares, each with a nominal value of £1. These shares were issued at par for a total consideration of £1,000,000.
Aranyani Lifestyle Limited
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Amounts disclosed in the balance sheet
Included in the balance sheet are pensions liability of £5,273 (2023 - £962).
Related party transactions |
Summary of transactions with parent
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The smallest and largest group for which consolidated financial statements are prepared, is that group headed by the ultimate parent undertaking, Sainath Holding & Investment Pvt. Ltd. Copies of these accounts can be obtained from 6th Floor, Two Tribeca, Tribeca Central, Trianon 72261, Republic of Mauritius.