Prasad (FR) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC503409 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2019

FOR

PRASAD (FR) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S P Appanna Nagendran

SECRETARY:

Mrs S Gnani Ramadoss

REGISTERED OFFICE:

3 Sandhaven Close

Ellon

Aberdeenshire

AB41 8AG

REGISTERED NUMBER:

SC503409 (Scotland)

FIXED ASSETS

Intangible assets

5

237,545

264,020

Tangible assets

6

8,730

5,038

246,275

269,058

CURRENT ASSETS

Debtors

7

27,612

5,505

Cash at bank and in hand

90,519

28,130

118,131

33,635

CREDITORS

Amounts falling due within one year

8

90,996

30,207

NET CURRENT ASSETS

27,135

3,428

TOTAL ASSETS LESS CURRENT LIABILITIES

273,410

272,486

CREDITORS

Amounts falling due after more than one year

9

(227,749

)

(258,850

)

PROVISIONS FOR LIABILITIES

(1,633

)

(926

)

NET ASSETS

44,028

12,710

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

43,928

12,610

SHAREHOLDERS' FUNDS

44,028

12,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 3 January 2020 and were signed by:

S P Appanna Nagendran - Director

1.	STATUTORY INFORMATION

Prasad (FR) Ltd is a private company, limited by shares , registered in Scotland. The company's registered

number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these

financial statements are rounded to the nearest pound.

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus the directors

continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates

and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that are

considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised where the revision affects only that period, or in the

period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of

causing a material adjustment to the carrying amount of the assets and liabilities.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 6 April 2018

and 5 April 2019

264,745

AMORTISATION

At 6 April 2018

725

Charge for year

26,475

At 5 April 2019

27,200

NET BOOK VALUE

At 5 April 2019

237,545

At 5 April 2018

264,020

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 6 April 2018

5,723

Additions

5,000

At 5 April 2019

10,723

DEPRECIATION

At 6 April 2018

685

Charge for year

1,308

At 5 April 2019

1,993

NET BOOK VALUE

At 5 April 2019

8,730

At 5 April 2018

5,038

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

27,612

5,505

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

9,300

11,150

Trade creditors

43,262

2,476

Taxation and social security

23,321

6,406

Other creditors

15,113

10,175

90,996

30,207

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

180,749

211,850

Other creditors

47,000

47,000

227,749

258,850

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

143,549

167,250

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

190,049

223,000

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

12.	RELATED PARTY DISCLOSURES

Included in other creditors is a loan due to the company's director Mr S P Appanna Nagendran and Mrs S Gnani

Ramadoss amounting to £57,282 (2018 - £53,772). This loan is non interest bearing and has no fixed terms of

repayment.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is S P Appanna Nagendran.