Registered number
07725661
Kavya Silks & Sarees Pvt Limited
Report and Accounts
31 December 2024
Kavya Silks & Sarees Pvt Limited
Registered number: 07725661
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,621 8,951
Current assets
Stocks 89,484 112,373
Debtors 4 35,416 22,666
Cash at bank and in hand 22,320 32,347
147,220 167,386
Creditors: amounts falling due within one year 5 (47,009) (39,946)
Net current assets 100,211 127,440
Total assets less current liabilities 101,832 136,391
Creditors: amounts falling due after more than one year 6 (20,931) (57,453)
Provisions for liabilities (308) (1,290)
Net assets 80,593 77,648
Capital and reserves
Called up share capital 100 100
Profit and loss account 80,493 77,548
Shareholder's funds 80,593 77,648
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sathish Viswanathan
Director
Approved by the board on 25 September 2025
Kavya Silks & Sarees Pvt Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% on reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 71,706
At 31 December 2024 71,706
Depreciation
At 1 January 2024 62,755
Charge for the year 7,330
At 31 December 2024 70,085
Net book value
At 31 December 2024 1,621
At 31 December 2023 8,951
4 Debtors 2024 2023
£ £
Trade debtors 12,495 -
Other debtors 22,921 22,666
35,416 22,666
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,390 4,282
Trade creditors 32,742 19,641
Corporation tax 2,088 6,402
Other taxes and social security costs 2,258 7,995
Other creditors 5,531 1,626
47,009 39,946
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,755 25,143
Other creditors 176 32,310
20,931 57,453
7 Related party transactions 2024 2023
£ £
The company owes £176 to the director - Mr. Sathish Vishwanathan in respect of funds provided by him for the operations of the busines from time to time, repayable on demand.
Loan to director - Mr. VP Kunnappilly B/fwd Paid Repaid C/fwd
Mr. V P Kunnappilly 26,000 (38,495) - (12,495)
8 Other information
Kavya Silks & Sarees Pvt Limited is a private company limited by shares and incorporated in England. Its registered office is:
67 Belgrave Road
Leicester
England
LE4 6AS
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