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Company Registration No. 08711775 (England and Wales)
Sharma IT Corporation Limited Unaudited accounts for the year ended 31 March 2025
Sharma IT Corporation Limited Unaudited accounts Contents
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Sharma IT Corporation Limited Company Information for the year ended 31 March 2025
Directors
Mr Hitesh Sharma Mrs Nidhi Sharma
Company Number
08711775 (England and Wales)
Registered Office
143 Rydens Road Walton-On-Thames KT12 3AS United Kingdom
Accountants
Virtue Accounting Limited 53 Warwick Street Coventry CV5 6ET
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Sharma IT Corporation Limited Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,111 
946 
Current assets
Debtors
94,826 
- 
Cash at bank and in hand
85,940 
143,584 
180,766 
143,584 
Creditors: amounts falling due within one year
(27,628)
(28,663)
Net current assets
153,138 
114,921 
Total assets less current liabilities
167,249 
115,867 
Provisions for liabilities
Deferred tax
(3,245)
(213)
Net assets
164,004 
115,654 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
163,994 
115,644 
Shareholders' funds
164,004 
115,654 
For the year ending 31 March 2025 the company was entitled to exemption from audit 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 the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2025 and were signed on its behalf by
Mr Hitesh Sharma Director Company Registration No. 08711775
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Sharma IT Corporation Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Sharma IT Corporation Limited is a private company, limited by shares, registered in England and Wales, registration number 08711775. The registered office is 143 Rydens Road, Walton-On-Thames, KT12 3AS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Sharma IT Corporation Limited Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2024
4,614 
Additions
18,657 
At 31 March 2025
23,271 
Depreciation
At 1 April 2024
3,668 
Charge for the year
5,492 
At 31 March 2025
9,160 
Net book value
At 31 March 2025
14,111 
At 31 March 2024
946 
5
Operating lease commitments
2025 
2024 
£ 
£ 
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
- 
6,664 
6
Loans to directors
Movements on directors' loan accounts represent timing differences between amounts owed, and payments made, to directors in respect of expenses, remuneration and dividends. At the reporting date the amount owed by the company to Mr Sharma was £14, a movement of £91 from the £105 owed by the company at the beginning of the period. At the reporting date the amount owed by the company to Mrs Sharma was £961, a movement of £649 from the £312 owed by the company at the beginning of the period. No interest is charged on balances and no guarantees have been provided by either the company or the directors.
7
Transactions with related parties
During YE March 2025, Sharma IT Corporation Limited has loaned £70,000 to Black Opal Properties Ltd. This loan is represented as "Debtors" within the company accounts. Interest is payable annually on the unpaid balance at a rate of 5%.
8
Average number of employees
During the year the average number of employees was 2 (2024: 2).
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