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Registered number: 05545060
Deurali (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
DAWSON FINANCE &ACCOUNTANCY SERVICE
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Deurali (UK) Limited from the accounting records and information and explanations you have given to us. This comprises of an Income Statement, Statement of Financial Position and Statement of Changes in Equity.
As a practicing member of Institute of Financial Accountants, we are subject to its ethical and other professional requirements which are detailed at www.ifa.org.uk.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged as at period year ended 31st August 2023 your duty to ensure that Deurali (UK) Limited has kept statutory accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Deurali (UK) Limited under the Companies Act 2006. You consider that Deurali (UK) Limited is exempt from the statutory requirement for an audit for the year. We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements
Signed
Sulaiman Farook (AFA, AFTA)
12/02/2025
DAWSON FINANCE &ACCOUNTANCY SERVICE
93
HERENT DRIVE
ILFORD
ESSEX
IG5 0HF
Page 1
Page 2
Balance Sheet
Registered number: 05545060
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,441 -
9,441 -
CURRENT ASSETS
Debtors 5 101,729 123,777
Cash at bank and in hand 76,643 78,312
178,372 202,089
Creditors: Amounts Falling Due Within One Year 6 (88,717 ) (75,143 )
NET CURRENT ASSETS (LIABILITIES) 89,655 126,946
TOTAL ASSETS LESS CURRENT LIABILITIES 99,096 126,946
Creditors: Amounts Falling Due After More Than One Year 7 (29,089 ) (57,336 )
NET ASSETS 70,007 69,610
CAPITAL AND RESERVES
Called up share capital 9 30,100 30,100
Profit and Loss Account 39,907 39,510
SHAREHOLDERS' FUNDS 70,007 69,610
Page 2
Page 3
For the year ending 31 August 2024 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr. Ashish Pant
Director
17/02/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Deurali (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05545060 . The registered office is Flat 6 Sherran House, 70 Grove Park, london, NW9 0FE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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. The financial statements are prepared in pounds sterling, which is the functional currency of the Company.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20%
Fixtures & Fittings 20%
Computer Equipment 20%
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Page 4
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 - 22,616 - 22,616
Additions 7,938 - 3,864 11,802
As at 31 August 2024 7,938 22,616 3,864 34,418
Depreciation
As at 1 September 2023 - 22,616 - 22,616
Provided during the period 1,588 - 773 2,361
As at 31 August 2024 1,588 22,616 773 24,977
Net Book Value
As at 31 August 2024 6,350 - 3,091 9,441
As at 1 September 2023 - - - -
Cost or valuation as at 31 August 2024 represented by:
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
At cost 7,938 22,616 3,864 34,418
7,938 22,616 3,864 34,418
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 39,214 72,983
Other debtors 12,495 10,794
Other debtors (1) 50,020 40,000
101,729 123,777
Page 5
Page 6
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 54,362 55,121
Bank loans and overdrafts 4,347 11,081
Corporation tax 9,774 8,801
Other taxes and social security 1,717 18,012
VAT 1,100 37
Net wages 8,167 7,756
Other creditors - (10,178 )
Other creditors (2) 10,000 -
Other creditors (4) (750 ) -
Accruals and deferred income - (15,487 )
88,717 75,143
Trade Creditors includes balance due to BSP of £ 54362.00
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 29,089 57,336
The company has an overdraft facility of GBP 75,000 out of which GBP 75,000 is available to use.
8. Deferred Taxation
The provision for deferred tax is made up as follows:
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30,100 30,100
Page 6