Chuhan and Singh Partnership Limited 06063310 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the provision of accounting services Digita Accounts Production Advanced 6.30.9574.0 true 06063310 2023-05-01 2024-04-30 06063310 2024-04-30 06063310 core:CurrentFinancialInstruments 2024-04-30 06063310 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 06063310 core:Non-currentFinancialInstruments 2024-04-30 06063310 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 06063310 core:Goodwill 2024-04-30 06063310 core:OfficeEquipment 2024-04-30 06063310 bus:SmallEntities 2023-05-01 2024-04-30 06063310 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06063310 bus:FilletedAccounts 2023-05-01 2024-04-30 06063310 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06063310 bus:RegisteredOffice 2023-05-01 2024-04-30 06063310 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 06063310 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06063310 core:Goodwill 2023-05-01 2024-04-30 06063310 core:OfficeEquipment 2023-05-01 2024-04-30 06063310 countries:England 2023-05-01 2024-04-30 06063310 2023-04-30 06063310 core:Goodwill 2023-04-30 06063310 core:OfficeEquipment 2023-04-30 06063310 2022-05-01 2023-04-30 06063310 2023-04-30 06063310 core:CurrentFinancialInstruments 2023-04-30 06063310 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 06063310 core:Non-currentFinancialInstruments 2023-04-30 06063310 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 06063310 core:Goodwill 2023-04-30 06063310 core:OfficeEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 06063310

Chuhan and Singh Partnership Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

image-name
 

Chuhan and Singh Partnership Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Chuhan and Singh Partnership Limited

Company Information

Director

Mr Anthony Blueitt

Company secretary

Mr Anthony Blueitt

Registered office

81 Borough Road
Middlesbrough
TS1 3AA

 

Chuhan and Singh Partnership Limited

(Registration number: 06063310)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

600,000

600,000

Tangible assets

5

12,687

20,280

 

612,687

620,280

Current assets

 

Stocks

6

212,771

185,524

Debtors

7

130,288

209,473

Cash at bank and in hand

 

139,269

159,535

 

482,328

554,532

Creditors: Amounts falling due within one year

8

(240,232)

(251,117)

Net current assets

 

242,096

303,415

Total assets less current liabilities

 

854,783

923,695

Creditors: Amounts falling due after more than one year

8

(353,237)

(417,893)

Net assets

 

501,546

505,802

Capital and reserves

 

Called up share capital

6,080

6,080

Capital redemption reserve

3,000

3,000

Retained earnings

492,466

496,722

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 27 January 2025
 

.........................................
Mr Anthony Blueitt
Company secretary and director

 

Chuhan and Singh Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
81 Borough Road
Middlesbrough
TS1 3AA

These financial statements were authorised for issue by the director on 27 January 2025.

2

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2023 - 15).

 

Chuhan and Singh Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

600,000

600,000

At 30 April 2024

600,000

600,000

Amortisation

Carrying amount

At 30 April 2024

600,000

600,000

At 30 April 2023

600,000

600,000

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

43,068

43,068

Additions

525

525

At 30 April 2024

43,593

43,593

Depreciation

At 1 May 2023

22,788

22,788

Charge for the year

8,118

8,118

At 30 April 2024

30,906

30,906

Carrying amount

At 30 April 2024

12,687

12,687

At 30 April 2023

20,280

20,280

 

Chuhan and Singh Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Stocks

2024
£

2023
£

Work in progress

212,771

185,524

7

Debtors

Current

2024
£

2023
£

Trade debtors

121,806

201,594

Prepayments

8,482

6,196

Other debtors

-

1,683

 

130,288

209,473

 

Chuhan and Singh Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

43,141

43,141

Trade creditors

 

13,424

11,549

Taxation and social security

 

145,953

160,722

Accruals and deferred income

 

7,745

7,600

Other creditors

 

29,969

28,105

 

240,232

251,117

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

353,237

417,893

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

128,392

171,048

Other borrowings

224,845

246,845

353,237

417,893

Current loans and borrowings

2024
£

2023
£

Bank borrowings

43,141

43,141

10

Related party transactions

There were no reportable transactions with directors during the year (2023 - £234,523).