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REGISTERED NUMBER: SC736488 (Scotland)














Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Utkantha Sharma Ltd

Utkantha Sharma Ltd (Registered number: SC736488)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Utkantha Sharma Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Ms U Sharma





REGISTERED OFFICE: 930 Maryhill Rd
Glasgow
G20 7TA





REGISTERED NUMBER: SC736488 (Scotland)





ACCOUNTANTS: Dental Accountants Scotland Ltd
Specialist Dental Accountants & Advisors
Cornerstone House
Station Road
Selkirk
Borders
TD7 5DJ

Utkantha Sharma Ltd (Registered number: SC736488)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 252,000 266,000
Tangible assets 5 123,425 123,791
375,425 389,791

CURRENT ASSETS
Stocks 6,000 2,500
Debtors 6 41,951 15,962
Cash at bank and in hand 119 24,020
48,070 42,482
CREDITORS
Amounts falling due within one year 7 169,172 108,697
NET CURRENT LIABILITIES (121,102 ) (66,215 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,323

323,576

CREDITORS
Amounts falling due after more than one year 8 398,334 382,849
NET LIABILITIES (144,011 ) (59,273 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (144,111 ) (59,373 )
SHAREHOLDERS' FUNDS (144,011 ) (59,273 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Utkantha Sharma Ltd (Registered number: SC736488)

Balance Sheet - continued
30 September 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 2 June 2025 and were signed by:





Ms U Sharma - Director


Utkantha Sharma Ltd (Registered number: SC736488)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Utkantha Sharma Ltd is a private company, limited by shares , registered in Scotland. 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 2022, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on cost
Office equipment - 25% on cost

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 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.

Utkantha Sharma Ltd (Registered number: SC736488)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 280,000
AMORTISATION
At 1 October 2023 14,000
Amortisation for year 14,000
At 30 September 2024 28,000
NET BOOK VALUE
At 30 September 2024 252,000
At 30 September 2023 266,000

Utkantha Sharma Ltd (Registered number: SC736488)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Office
property machinery equipment Totals
£    £    £    £   
COST
At 1 October 2023 50,067 114,987 - 165,054
Additions - 50,177 180 50,357
At 30 September 2024 50,067 165,164 180 215,411
DEPRECIATION
At 1 October 2023 12,517 28,746 - 41,263
Charge for year 9,387 41,291 45 50,723
At 30 September 2024 21,904 70,037 45 91,986
NET BOOK VALUE
At 30 September 2024 28,163 95,127 135 123,425
At 30 September 2023 37,550 86,241 - 123,791

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2023 59,317
Additions 16,851
At 30 September 2024 76,168
DEPRECIATION
At 1 October 2023 14,829
Charge for year 19,042
At 30 September 2024 33,871
NET BOOK VALUE
At 30 September 2024 42,297
At 30 September 2023 44,488

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 41,951 15,962

Utkantha Sharma Ltd (Registered number: SC736488)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 9) 105,383 53,238
Hire purchase contracts 25,688 10,523
Social security and other taxes 1,303 1,135
Pension payable 446 314
Other creditors 9,062 9,354
Directors' current accounts 24,732 31,283
Accrued expenses 2,558 2,850
169,172 108,697

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 9) 335,642 341,630
Hire purchase contracts 62,692 41,219
398,334 382,849

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 133,254 138,414

9. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 25 -
Bank loans 105,358 53,238
105,383 53,238

Amounts falling due between one and two years:
Bank loans - 1-2 years 55,500 53,238

Amounts falling due between two and five years:
Bank loans - 2-5 years 146,888 149,978

Amounts falling due in more than five years:

Utkantha Sharma Ltd (Registered number: SC736488)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. LOANS - continued
30.9.24 30.9.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 133,254 138,414

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
Ms U Sharma and Ms U Sharma
Balance outstanding at start of year (31,283 ) -
Amounts advanced 41,450 42,553
Amounts repaid (34,899 ) (73,836 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (24,732 ) (31,283 )

There are no specific repayment terms and no interest has been charged.