G.B. Patel & Sons Limited - Filleted accounts

Registered number

01403567

G.B. Patel & Sons Limited

Filleted Unaudited Accounts

31 March 2025

G.B. Patel & Sons Limited
Registered number:		01403567
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		54,296			61,292

Current assets
Stocks		68,540			63,260
Debtors	4	329,225			255,793
Cash at bank and in hand		193,425			207,402
		591,190			526,455

Creditors: amounts falling due within one year	5	(242,666)			(223,061)

Net current assets			348,524			303,394

Total assets less current liabilities			402,820			364,686


Provisions for liabilities			(8,663)			(11,426)


Net assets			394,157			353,260

Capital and reserves
Called up share capital			10,000			10,000
Profit and loss account			384,157			343,260

Shareholder's funds			394,157			353,260

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.




Mr R Rohilla
Director
Approved by the board on 31 December 2025

G.B. Patel & Sons Limited
Notes to the Accounts
for the year ended 31 March 2025

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 services.

	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 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			25% reducing balance
	Improvements to property			over 5 years

	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. 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. Current and deferred tax assets and liabilities are not discounted.

2	Employees					2025		2024
Number							Number
	Average number of persons employed by the company					4		4

3	Tangible fixed assets
		Improve to property		Plant and machinery etc				Total
£			£		£
	Cost
	At 1 April 2024	53,831		117,930				171,761
	Additions	6,849		500				7,349
	On disposals	-		-				-
	At 31 March 2025	60,680		118,430				179,110

	Depreciation
	At 1 April 2024	38,243		72,226				110,469
	Charge for the year	2,795		11,550				14,345
	On disposals	-		-				-
	At 31 March 2025	41,038		83,776				124,814

	Net book value
	At 31 March 2025	19,642		34,654				54,296
	At 31 March 2024	15,588		45,704				61,292

4	Debtors					2025		2024
£							£
	Trade debtors					105,835		85,434
	Amounts owed by related companies					141,317		66,317
	Other debtors					82,073		104,042
						329,225		255,793

5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					65,501		81,893
	Corporation tax					27,659		21,468
	Other creditors					149,506		119,700
						242,666		223,061

6	Controlling party
	The company is controlled by Mr R Rohilla, the company director.

7	Other information
	G.B. Patel & Sons Limited is a private company limited by shares and incorporated in England. Its registered office is:
	27 Northcote Road
	London
	SW11 1NJ