KESHWARA & SONS LTD

Company Registration Number:
13233303 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2024

Period of accounts

Start date: 01 March 2023

End date: 28 February 2024

KESHWARA & SONS LTD

Contents of the Financial Statements

for the Period Ended 28 February 2024

Balance sheet
Notes

KESHWARA & SONS LTD

Balance sheet

As at 28 February 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 42,000 48,000
Tangible assets: 4 385,011 390,400
Total fixed assets: 427,011 438,400
Current assets
Stocks: 39,710 37,260
Debtors:   27,412 27,361
Cash at bank and in hand: 8,464 17,131
Total current assets: 75,586 81,752
Creditors: amounts falling due within one year:   (247,741) (274,402)
Net current assets (liabilities): (172,155) (192,650)
Total assets less current liabilities: 254,856 245,750
Creditors: amounts falling due after more than one year:   (204,147) (217,826)
Provision for liabilities: (10,120) (7,567)
Total net assets (liabilities): 40,589 20,357
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 40,489 20,257
Shareholders funds: 40,589 20,357

The notes form part of these financial statements

KESHWARA & SONS LTD

Balance sheet statements

For the year ending 28 February 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 February 2025
and signed on behalf of the board by:

Name: Mr D S Keshwara
Status: Director

The notes form part of these financial statements

KESHWARA & SONS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: the Company has transferred the significant risks and rewards of ownership to the buyer; the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the transaction; and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis: Freehold property - 0% per annum on a reducing balance basis. Fixtures and fittings - 15% per annum on a reducing balance basis. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Intangible fixed assets and amortisation policy

Intangible assets Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Other accounting policies

Stocks Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.

KESHWARA & SONS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

2. Employees

2024 2023
Average number of employees during the period 8 7

KESHWARA & SONS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Intangible Assets

Total
Cost £
At 01 March 2023 60,000
At 28 February 2024 60,000
Amortisation
At 01 March 2023 12,000
Charge for year 6,000
At 28 February 2024 18,000
Net book value
At 28 February 2024 42,000
At 28 February 2023 48,000

KESHWARA & SONS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Tangible Assets

Total
Cost £
At 01 March 2023 406,750
Additions 4,010
At 28 February 2024 410,760
Depreciation
At 01 March 2023 16,350
Charge for year 9,399
At 28 February 2024 25,749
Net book value
At 28 February 2024 385,011
At 28 February 2023 390,400