Registration number:
Chuhan and Singh Partnership Limited
for the Year Ended 30 April 2024
Chuhan and Singh Partnership Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Chuhan and Singh Partnership Limited
Company Information
Director |
Mr Anthony Blueitt |
Company secretary |
Mr Anthony Blueitt |
Registered office |
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Chuhan and Singh Partnership Limited
(Registration number: 06063310)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible 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 |
6,080 |
6,080 |
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Capital redemption reserve |
3,000 |
3,000 |
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Retained earnings |
492,466 |
496,722 |
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Shareholders' funds |
501,546 |
505,802 |
For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Chuhan and Singh Partnership Limited
(Registration number: 06063310)
Balance Sheet as at 30 April 2024 (continued)
These financial statements have been prepared 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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Chuhan and Singh Partnership Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
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 except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, net of discounts and Value Added Tax.
Services provided to clients, which at the balance sheet date have not been billed to clients, have been recognised as income. Income recognised in this manner is based on an assessment of the fair value of services provided at the balance sheet date. Provisions are made against unbilled amounts on those engagements, where the right to receive payment is contingent on factors outside of the control of the company. Unbilled revenue is included within stocks as work in progress.
Chuhan and Singh Partnership Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)
2 |
Accounting policies (continued) |
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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 |
Office Equipment |
25% straight line |
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and amortised over its estimated useful life. Goodwill is reviewed for impairment at the end of each financial year following acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.
Borrowings
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 and 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.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Chuhan and Singh Partnership Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)
2 |
Accounting policies (continued) |
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Chuhan and Singh Partnership Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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Amortisation |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Chuhan and Singh Partnership Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)
Stocks |
2024 |
2023 |
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Work in progress |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Prepayments |
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Other debtors |
- |
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Chuhan and Singh Partnership Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Other borrowings |
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Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Related party transactions |
There were no reportable transactions with directors during the year (2023 - £234,523).