Reddy & Swamy Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07922448

Reddy & Swamy Limited

Filleted Unaudited Financial Statements

31 January 2025

Reddy & Swamy Limited

Financial Statements

Year ended 31 January 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Reddy & Swamy Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	1,477	2,445
Investments	6	31,929	31,929
		--------	--------
		33,406	34,374

Current assets

Debtors	7	514,849	495,238
Cash at bank and in hand		2,173,710	1,707,994
		------------	------------
		2,688,559	2,203,232

Creditors: amounts falling due within one year	8	633,842		367,269
		------------		------------
Net current assets			2,054,717	1,835,963
			------------	------------
Total assets less current liabilities			2,088,123	1,870,337

Creditors: amounts falling due after more than one year	9		3,584	12,326

Provisions

Taxation including deferred tax	369	144
	------------	------------
Net assets	2,084,170	1,857,867
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,084,070	1,857,767
	------------	------------
Shareholders funds	2,084,170	1,857,867
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Reddy & Swamy Limited

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 7 January 2026 , and are signed on behalf of the board by:

Dr G K Reddy

Director

Company registration number: 07922448

Reddy & Swamy Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pound Paddock, Church Hill, Kingsnorth, Ashford, Kent, TN23 3EG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Investments

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 February 2024 and 31 January 2025	13,768	13,768
	--------	--------
Depreciation
At 1 February 2024	11,323	11,323
Charge for the year	968	968
	--------	--------
At 31 January 2025	12,291	12,291
	--------	--------
Carrying amount
At 31 January 2025	1,477	1,477
	--------	--------
At 31 January 2024	2,445	2,445
	--------	--------

6. Investments

	Listed investments
	£
Cost
At 1 February 2024 and 31 January 2025	31,929
	--------
Impairment
At 1 February 2024 and 31 January 2025	–
	--------

Carrying amount
At 31 January 2025	31,929
	--------
At 31 January 2024	31,929
	--------

7. Debtors

	2025	2024
	£	£
Other debtors	514,849	495,238
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	8,050	2,741
Corporation tax	123,664	62,980
Other creditors	502,128	301,548
	---------	---------
	633,842	367,269
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	3,584	12,326
	-------	--------

10. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	31,929	31,929
	--------	--------

11. Related party transactions

At the year end the company owed Directors £209,911 (2024: £95,735). During the year dividends of £2,000 (2024: £4,000) were paid to the directors. At the Balance Sheet date the company owed £265,061 (2024: £168,631) to companies associated by virtue of common directorship.