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Registered number: 08036891










N P SHETTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

 
N P SHETTY LIMITED
 

COMPANY INFORMATION


DIRECTORS
N SHETTY 
D SHETTY 
M MIDDLETON 




REGISTERED NUMBER
08036891



REGISTERED OFFICE
930 HIGH ROAD

LONDON

N12 9RT




ACCOUNTANTS
BAGINSKY COHEN
CHARTERED ACCOUNTANTS

930 HIGH ROAD

LONDON

N12 9RT





 
N P SHETTY LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2
Notes to the financial statements
 
 
3 - 5


 
N P SHETTY LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF N P SHETTY LIMITED FOR THE YEAR ENDED 30 APRIL 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of N P Shetty Limited for the year ended 30 April 2025 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of N P Shetty Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of N P Shetty Limited and state those matters that we have agreed to state to the Board of directors of N P Shetty Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than N P Shetty Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that N P Shetty Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of N P Shetty Limited. You consider that N P Shetty Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of N P Shetty Limited. 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 statutory financial statements.

  
BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT
11 June 2025
Page 1

 
N P SHETTY LIMITED
REGISTERED NUMBER: 08036891

BALANCE SHEET
AS AT 30 APRIL 2025

2025
2025
2024
2024
Note
£
£
£
£

  

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 4 
28,025
18,005

Cash at bank and in hand
 5 
760,628
722,760

  
788,653
740,765

Creditors: amounts falling due within one year
 6 
(25,571)
(28,768)

  

NET ASSETS
  
763,082
711,997


CAPITAL AND RESERVES
  

Called up share capital 
 7 
100
100

Profit and loss account
 8 
762,982
711,897

  
763,082
711,997


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 June 2025.




N SHETTY
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
N P SHETTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
1.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
N P SHETTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

1.ACCOUNTING POLICIES (CONTINUED)

 
1.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.7

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).


4.


DEBTORS

2025
2024
£
£


Other debtors
905
725

Trade debtors
27,120
17,280

28,025
18,005


Page 4

 
N P SHETTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

5.


CASH AND CASH EQUIVALENTS

2025
2024
£
£

Cash at bank and in hand
760,628
722,760



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025
2024
£
£

Trade creditors
-
30

Accruals and deferred income
3,300
3,300

Corporation tax
13,316
16,855

Other taxation and social security
8,955
8,583

25,571
28,768



7.


SHARE CAPITAL

2025
2024
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2024 - 100) Ordinary shares of £1.00 each
100
100



8.


RESERVES

Profit and loss account

This includes all current and prior period retained profits and losses.


Page 5