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Registered Number: 11180350
England and Wales

 

 

 

BHAVI LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director Gautamkumar Patel
Registered Number 11180350
Registered Office 112,High Street
Bushey
Hertfordshire
WD23 3DE
Accountants 3E'S Accountants Limited
231 Kenton Road
Harrow
Middlesex
England
HA3 0HD
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 11,250    12,000 
Tangible fixed assets 4 23,917    1,250 
35,167    13,250 
Current assets      
Stocks 5 76,580    86,455 
Debtors 6 21,900    20,845 
Cash at bank and in hand 100    723 
98,580    108,023 
Creditors: amount falling due within one year 7 (76,670)   (64,546)
Net current assets 21,910    43,477 
 
Total assets less current liabilities 57,077    56,727 
Creditors: amount falling due after more than one year 8 (71,219)   (45,406)
Net assets (14,142)   11,321 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account (15,142)   10,321 
Shareholders' funds (14,142)   11,321 
 


For the year ended 31 January 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:


-------------------------------
Gautamkumar Patel
Director
2
General Information
Bhavi Limited is a private company, limited by shares, registered in England and Wales, registration number 11180350, registration address 112,High Street, Bushey, Hertfordshire, WD23 3DE.

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)
Going concern basis
Total liabilities exceed current assets at the balance sheet date. The directors consider, however that the company has sufficient liquid assets to meet its liabilities as and when they fall due and that the company has sufficient support from its creditors. Accordingly the director considers that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
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 33.33% Straight Line
Fixtures and Fittings 10 % Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

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

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 February 2023 15,000    15,000 
Additions  
Disposals  
At 31 January 2024 15,000    15,000 
Amortisation
At 01 February 2023 3,000    3,000 
Charge for year 750    750 
On disposals  
At 31 January 2024 3,750    3,750 
Net book values
At 31 January 2024 11,250    11,250 
At 31 January 2023 12,000    12,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 February 2023   2,500    2,500 
Additions 33,333      33,333 
Disposals    
At 31 January 2024 33,333    2,500    35,833 
Depreciation
At 01 February 2023   1,250    1,250 
Charge for year 10,416    250    10,666 
On disposals    
At 31 January 2024 10,416    1,500    11,916 
Net book values
Closing balance as at 31 January 2024 22,917    1,000    23,917 
Opening balance as at 01 February 2023   1,250    1,250 


5.

Stocks

2024
£
  2023
£
Stocks 76,580    86,455 
76,580    86,455 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   19,601 
Directors' Current Accounts 16,583    1,244 
16,583    20,845 

6.

Debtors: amounts falling due after one year

2024
£
  2023
£
Prepayments 2,123   
Deferred VAT 3,194   
5,317   

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 6,065    5,277 
Corporation Tax 39,199    33,533 
PAYE & Social Security 4,966    3,680 
VAT 9,010    12,468 
Accrued Expenses 14,554    7,020 
Wages & Salaries Control Account 2,876    2,568 
76,670    64,546 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 45,433    45,406 
YouLend-60134850 10,967   
Siemens Finance loan (4,348)  
Armada Asset Finance 19,167   
71,219    45,406 

3