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Company Registration No. 08711775 (England and Wales)
Sharma IT Corporation Limited Unaudited accounts for the year ended 31 March 2026
Sharma IT Corporation Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Sharma IT Corporation Limited Company Information for the year ended 31 March 2026
Directors
Mr Hitesh Sharma Mrs Nidhi Sharma
Company Number
08711775 (England and Wales)
Registered Office
143 Rydens Road Walton-On-Thames KT12 3AS United Kingdom
Accountants
Virtue Accounting Limited 53 Warwick Street Coventry CV5 6ET
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Sharma IT Corporation Limited Statement of financial position as at 31 March 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
10,335
14,111
Current assets
Debtors
107,646
94,826
Cash at bank and in hand
101,152
85,940
208,798
180,766
Creditors: amounts falling due within one year
(22,934)
(27,628)
Net current assets
185,864
153,138
Total assets less current liabilities
196,199
167,249
Provisions for liabilities
Deferred tax
(2,274)
(3,245)
Net assets
193,925
164,004
Capital and reserves
Called up share capital
10
10
Profit and loss account
193,915
163,994
Shareholders' funds
193,925
164,004
For the year ending 31 March 2026 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 of Directors and authorised for issue on 2 April 2026 and were signed on its behalf by
Mr Hitesh Sharma Director Company Registration No. 08711775
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Sharma IT Corporation Limited Notes to the Accounts for the year ended 31 March 2026
1
Statutory information
Sharma IT Corporation Limited is a private company, limited by shares, registered in England and Wales, registration number 08711775. The registered office is 143 Rydens Road, Walton-On-Thames, KT12 3AS, United Kingdom.
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.
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.
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:
Plant & machinery
25% straight line
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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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Sharma IT Corporation Limited Notes to the Accounts for the year ended 31 March 2026
4
Tangible fixed assets
Total
£
Cost or valuation
At 1 April 2025
23,271
At 31 March 2026
23,271
Depreciation
At 1 April 2025
9,160
Charge for the year
3,776
At 31 March 2026
12,936
Net book value
At 31 March 2026
10,335
At 31 March 2025
14,111
5
Loans to directors
Movements on directors' loan accounts represent timing differences between amounts owed, and payments made, to directors in respect of expenses, remuneration and dividends. At the reporting date the amount owed by the company to Mr H Sharma was £23, a movement of £9 from the £14 owed by the company at the beginning of the period. At the reporting date the amount owed by the company to Mrs N Sharma was £1,759, a movement of £798 from the £961 owed by the company at the beginning of the period. No interest is charged on balances and no guarantees have been provided by either the company or the directors.
6
Transactions with related parties
During YE March 2025, Sharma IT Corporation Limited has loaned £70,000 to Black Opal Properties Ltd. This loan is represented as "Debtors" within the company accounts. Interest is payable annually on the unpaid balance at a rate of 5%.
7
Average number of employees
During the year the average number of employees was 2 (2025: 2).
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