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REGISTERED NUMBER: 07194930 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

V SATISH LIMITED

V SATISH LIMITED (REGISTERED NUMBER: 07194930)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


V SATISH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr V Satish
Mrs N Satish





REGISTERED OFFICE: The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY





REGISTERED NUMBER: 07194930 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

V SATISH LIMITED (REGISTERED NUMBER: 07194930)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 48,189 18,612
Investment property 7 334,091 330,783
382,280 349,395

CURRENT ASSETS
Debtors 8 11,103 12,339
Investments 9 87,540 83,833
Cash at bank and in hand 2,260,414 2,044,743
2,359,057 2,140,915
CREDITORS
Amounts falling due within one year 10 102,918 71,398
NET CURRENT ASSETS 2,256,139 2,069,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,638,419

2,418,912

PROVISIONS FOR LIABILITIES 11 32,205 15,158
NET ASSETS 2,606,214 2,403,754

CAPITAL AND RESERVES
Called up share capital 12 4 4
Other reserves 13 73,867 69,364
Retained earnings 13 2,532,343 2,334,386
SHAREHOLDERS' FUNDS 2,606,214 2,403,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

V SATISH LIMITED (REGISTERED NUMBER: 07194930)

BALANCE SHEET - continued
31 MARCH 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by:




Dr V Satish - Director



Mrs N Satish - Director


V SATISH LIMITED (REGISTERED NUMBER: 07194930)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

V Satish Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

V SATISH LIMITED (REGISTERED NUMBER: 07194930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Financial instruments

Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

V SATISH LIMITED (REGISTERED NUMBER: 07194930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 110,000
AMORTISATION
At 1 April 2023
and 31 March 2024 110,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 April 2023 19,796 71,012 90,808
Additions - 45,640 45,640
At 31 March 2024 19,796 116,652 136,448
DEPRECIATION
At 1 April 2023 13,911 58,285 72,196
Charge for year 1,471 14,592 16,063
At 31 March 2024 15,382 72,877 88,259
NET BOOK VALUE
At 31 March 2024 4,414 43,775 48,189
At 31 March 2023 5,885 12,727 18,612

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 330,783
Revaluations 3,308
At 31 March 2024 334,091
NET BOOK VALUE
At 31 March 2024 334,091
At 31 March 2023 330,783

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 334,091

V SATISH LIMITED (REGISTERED NUMBER: 07194930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 9,244 10,510
Other debtors 1,493 1,493
Prepayments 366 336
11,103 12,339

9. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Unlisted investments 87,540 83,833

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 64,625 61,053
Other creditors 34,500 -
Directors' current accounts 2,553 9,145
Accrued expenses 1,240 1,200
102,918 71,398

11. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 32,205 15,158

Deferred
tax
£   
Balance at 1 April 2023 15,158
Charge to Income Statement during year 17,047
Balance at 31 March 2024 32,205

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2
2 A Ordinary £1 2 2
4 4

V SATISH LIMITED (REGISTERED NUMBER: 07194930)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 April 2023 2,334,386 69,364 2,403,750
Profit for the year 210,830 210,830
Dividends (8,370 ) (8,370 )
Transfer non-distributable (4,503 ) 4,503 -
At 31 March 2024 2,532,343 73,867 2,606,210

14. RELATED PARTY DISCLOSURES

At 31 March 2024 an amount of £2,553 was due to the director, Mr V Satish; this amount is included within creditors on the balance sheet. (2023 £9,145).

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr V and Mrs N S Satish.