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Company Registration No. 10359252 (England and Wales)
Patel & Bhakta Limited Unaudited accounts for the year ended 30 September 2024
Patel & Bhakta Limited Unaudited accounts Contents
Page
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Patel & Bhakta Limited Company Information for the year ended 30 September 2024
Director
Sadhana Patel
Company Number
10359252 (England and Wales)
Registered Office
47 Horseshoe Crescent Peatmoor Swindon SN5 5AX England
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Patel & Bhakta Limited Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
70,858 
79,170 
Tangible assets
78,223 
88,836 
149,081 
168,006 
Current assets
Inventories
7,560 
8,395 
Debtors
439,211 
27,559 
Cash at bank and in hand
104,294 
9,232 
551,065 
45,186 
Creditors: amounts falling due within one year
(229,103)
(82,455)
Net current assets/(liabilities)
321,962 
(37,269)
Total assets less current liabilities
471,043 
130,737 
Creditors: amounts falling due after more than one year
(337,279)
(42,000)
Provisions for liabilities
Other provisions
(30,000)
- 
Net assets
103,764 
88,737 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
103,664 
88,637 
Shareholders' funds
103,764 
88,737 
For the year ending 30 September 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 March 2025 and were signed on its behalf by
Sadhana Patel Director Company Registration No. 10359252
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Patel & Bhakta Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
Patel & Bhakta Limited is a private company, limited by shares, registered in England and Wales, registration number 10359252. The registered office is 47 Horseshoe Crescent, Peatmoor, Swindon, SN5 5AX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Patel & Bhakta Limited Notes to the Accounts for the year ended 30 September 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 October 2023
87,482 
At 30 September 2024
87,482 
Amortisation
At 1 October 2023
8,312 
Charge for the year
8,312 
At 30 September 2024
16,624 
Net book value
At 30 September 2024
70,858 
At 30 September 2023
79,170 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2023
825 
264,104 
1,698 
266,627 
Additions
- 
3,145 
- 
3,145 
At 30 September 2024
825 
267,249 
1,698 
269,772 
Depreciation
At 1 October 2023
14 
177,513 
264 
177,791 
Charge for the year
83 
13,460 
215 
13,758 
At 30 September 2024
97 
190,973 
479 
191,549 
Net book value
At 30 September 2024
728 
76,276 
1,219 
78,223 
At 30 September 2023
811 
86,591 
1,434 
88,836 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
27,115 
Accrued income and prepayments
- 
444 
- 
27,559 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
439,211 
- 
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Patel & Bhakta Limited Notes to the Accounts for the year ended 30 September 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
63,491 
31,045 
VAT
24,278 
16,777 
Trade creditors
12,413 
(6,981)
Taxes and social security
18,007 
5,059 
Other creditors
- 
406 
Loans from directors
104,914 
31,314 
Accruals
6,000 
4,835 
229,103 
82,455 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
195,279 
- 
Amounts owed to group undertakings and other participating interests
42,000 
42,000 
Other creditors
100,000 
- 
337,279 
42,000 
Other creditors include a long-term loan of £100,000 (2023: £Nil) from the director's daughter. This loan is unsecured and does not accrue interest. Included among the other debtors is a £439,211 advance to Arjunli Ltd. Arjunli Ltd. is a related party by virtue of a common director holding 51% of the shares and the remaining 49% being held by the children of the director. The bank loan is unsecured, bearing interest at the rate of 11.40% p.a. and repayable in 7 years. Interest on the bank loan is charged to Arjunli Ltd.
9
Average number of employees
During the year the average number of employees was 11 (2023: 11).
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