Registered number
12759883
SRI SHAKTHI LTD
Filleted Accounts
31 July 2024
SRI SHAKTHI LTD
Registered number: 12759883
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 33,628 44,837
Current assets
Cash at bank and in hand 46,470 39,420
Creditors: amounts falling due within one year 4 (17,207) (11,746)
Net current assets 29,263 27,674
Total assets less current liabilities 62,891 72,511
Creditors: amounts falling due after more than one year 5 (24,293) (30,161)
Net assets 38,598 42,350
Capital and reserves
Called up share capital 1 1
Profit and loss account 38,597 42,349
Shareholders' funds 38,598 42,350
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Pavithra Senthirkumar Ramanathan
Director
Approved by the board on 9 April 2025
SRI SHAKTHI LTD
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% Reduced balance method
Fixtures, fittings, tools and equipment 25% Reduced balance method
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 504 44,385 44,889
At 31 July 2024 504 44,385 44,889
Depreciation
At 1 August 2023 52 - 52
Charge for the year 113 11,096 11,209
At 31 July 2024 165 11,096 11,261
Net book value
At 31 July 2024 339 33,289 33,628
At 31 July 2023 452 44,385 44,837
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 16,451 5,207
Other creditors 756 6,539
17,207 11,746
5 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 24,293 30,161
6 Other information
SRI SHAKTHI LTD is a private company limited by shares and incorporated in England. Its registered office is:
Kemp House
160 City Road
London
UK
EC1V 2NX
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