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REGISTERED NUMBER: 03558871 (England and Wales)


Unaudited Financial Statements for the Year Ended 31 May 2024

for

Pallavi Limited

Pallavi Limited (Registered number: 03558871)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pallavi Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mrs J Haridas





SECRETARY: Mrs J Haridas





REGISTERED OFFICE: 144-146
Kings Cross Road
London
WC1X 9DU





REGISTERED NUMBER: 03558871 (England and Wales)





ACCOUNTANTS: Andrew Murray & Co
Business Advisors and Statutory Auditors
144-146 Kings Cross Road
King's Cross
WC1X 9DU

Pallavi Limited (Registered number: 03558871)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,010 23,771
23,010 23,771

CURRENT ASSETS
Stocks 4,935 5,325
Cash at bank and in hand 721 6,334
5,656 11,659
CREDITORS
Amounts falling due within one year 6 76,538 70,985
NET CURRENT LIABILITIES (70,882 ) (59,326 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(47,872

)

(35,555

)

CREDITORS
Amounts falling due after more than one
year

7

197,640

163,397
NET LIABILITIES (245,512 ) (198,952 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 (245,514 ) (198,954 )
(245,512 ) (198,952 )

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

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

The director acknowledges her 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.

Pallavi Limited (Registered number: 03558871)

Statement of Financial Position - continued
31 May 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 director and authorised for issue on 23 May 2025 and were signed by:





Mrs J Haridas - Director


Pallavi Limited (Registered number: 03558871)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Pallavi 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Pallavi Limited (Registered number: 03558871)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 35,000
AMORTISATION
At 1 June 2023
and 31 May 2024 35,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 19,314 5,949 42,770 68,033
DEPRECIATION
At 1 June 2023 - 4,568 39,694 44,262
Charge for year - 207 554 761
At 31 May 2024 - 4,775 40,248 45,023
NET BOOK VALUE
At 31 May 2024 19,314 1,174 2,522 23,010
At 31 May 2023 19,314 1,381 3,076 23,771

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 18,727 17,560
Social security and other taxes 10,457 16,772
Nest payments 448 87
VAT 356 925
Directors' current accounts 45,903 34,994
Accrued expenses 647 647
76,538 70,985

Pallavi Limited (Registered number: 03558871)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 8) 154,696 142,647
Other loans (see note 8) 42,944 20,750
197,640 163,397

Amounts falling due in more than five years:

Repayable otherwise than by instalments
365 Business Finance 25,000 -
MCBC UK LTD 11,000 -
36,000 -

Repayable by instalments
Bank loans more 5 yr by instal 22,961 45,799
Funding Cycle loan - 21,948
Loan from YL IV Ltd 68,035 54,000
90,996 121,747

8. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due between two and five years:
Pakka Indian Ltd 27,700 20,900
Loan from Vaishak 18,124 7,250
Loan From N Nair 7,000 7,000
Loan from Sister Restaurant 17,820 6,500
70,644 41,650

Amounts falling due in more than five years:
Repayable otherwise than by instalments
365 Business Finance 25,000 -
MCBC UK LTD 11,000 -
36,000 -

Repayable by instalments
Bank loans more 5 yr by instal 22,961 45,799
Funding Cycle loan - 21,948
Loan from YL IV Ltd 68,035 54,000
90,996 121,747

Pallavi Limited (Registered number: 03558871)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. RESERVES
Retained
earnings
£   

At 1 June 2023 (198,954 )
Deficit for the year (46,560 )
At 31 May 2024 (245,514 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs J Haridas.