SRI DEV LTD

SRI DEV LTD

SRI DEV LTD - Company Information

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SRI DEV LTD

Company Registration Number:
09411005 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2019

Period of accounts

Start date: 01 February 2018

End date: 31 January 2019

SRI DEV LTD

Contents of the Financial Statements

for the Period Ended 31 January 2019

Balance sheet
Notes

SRI DEV LTD

Balance sheet

As at 31 January 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 905,716 843,103
Total fixed assets: 905,716 843,103
Current assets
Debtors:   26,200 0
Cash at bank and in hand: 528 528
Investments:   0 182,000
Total current assets: 26,728 182,528
Creditors: amounts falling due within one year: 4 (391,888) (666,719)
Net current assets (liabilities): (365,160) (484,191)
Total assets less current liabilities: 540,556 358,912
Creditors: amounts falling due after more than one year: 5 (362,397) (259,932)
Total net assets (liabilities): 178,159 98,980
Capital and reserves
Called up share capital: 5 5
Revaluation reserve:6227,866164,052
Profit and loss account: (49,712) (65,077)
Shareholders funds: 178,159 98,980

The notes form part of these financial statements

SRI DEV LTD

Balance sheet statements

For the year ending 31 January 2019 the company was entitled to exemption 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 this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 October 2019
and signed on behalf of the board by:

Name: Anand R Chinthala
Status: Director

The notes form part of these financial statements

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discountsand value added taxes. Turnover includes revenue earned from the sale of goods and from therendering of services. Turnover from the sale of goods is recognised when the significant risksand rewards of ownership of the goods have transferred to the buyer. Turnover from the renderingof services is recognised by reference to the stage of completion of the contract. The stage ofcompletion of a contract is measured by comparing the costs incurred for work performed to dateto the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulativeimpairment 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 itsexpected useful life, as follows:Plant and machinery over 5 yearsFixtures, fittings, tools and equipment over 5 years

Other accounting policies

Investments in subsidiaries, associates and joint ventures are measured at cost less anyaccumulated impairment losses. Listed investments are measured at fair value. Unlistedinvestments are measured at fair value unless the value cannot be measured reliably, in whichcase they are measured at cost less any accumulated impairment losses. Changes in fair valueare included in the profit and loss account.Short term debtors are measured at transaction price (which is usually the invoice price), less anyimpairment losses for bad and doubtful debts. Loans and other financial assets are initiallyrecognised at transaction price including any transaction costs and subsequently measured atamortised cost determined using the effective interest method, less any impairment losses for badand doubtful debts.Short term creditors are measured at transaction price (which is usually the invoice price). Loansand other financial liabilities are initially recognised at transaction price net of any transaction costsand subsequently measured at amortised cost determined using the effective interest method.

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2019

2. Employees

2019 2018
Average number of employees during the period 1 1

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2019

3. Tangible Assets

Total
Cost £
At 01 February 2018 845,803
Revaluations 63,813
At 31 January 2019 909,616
Depreciation
At 01 February 2018 2,700
Charge for year 1,200
At 31 January 2019 3,900
Net book value
At 31 January 2019 905,716
At 31 January 2018 843,103

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2019

4. Creditors: amounts falling due within one year note

Creditors includes £389,411.00 (2019) and £388,697.00 (2018) loan / overdraft from State Bank of India and is secured against all present and future properties of the company.

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2019

5. Creditors: amounts falling due after more than one year note

This includes £153,425.00 (2019) and £0 (2018)Mortgage loan obtained from State bank of India (UK) Limited against the property 342 Manchester Road, West Timperley, Altringham, WA14 5NH.

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2019

6. Revaluation reserve

2019
£
Balance at 01 February 2018 164,052
Surplus or deficit after revaluation 63,814
Balance at 31 January 2019 227,866