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 2020

Period of accounts

Start date: 01 February 2019

End date: 31 January 2020

SRI DEV LTD

Contents of the Financial Statements

for the Period Ended 31 January 2020

Balance sheet
Notes

SRI DEV LTD

Balance sheet

As at 31 January 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 1,068,344 905,716
Total fixed assets: 1,068,344 905,716
Current assets
Debtors:   15,000 26,200
Cash at bank and in hand: 32,731 528
Total current assets: 47,731 26,728
Creditors: amounts falling due within one year:   (164,497) (600,860)
Net current assets (liabilities): (116,766) (574,132)
Total assets less current liabilities: 951,578 331,584
Creditors: amounts falling due after more than one year: 4 (782,007) (153,425)
Total net assets (liabilities): 169,571 178,159
Capital and reserves
Called up share capital: 5 5
Revaluation reserve:5227,866227,866
Profit and loss account: (58,300) (49,712)
Shareholders funds: 169,571 178,159

The notes form part of these financial statements

SRI DEV LTD

Balance sheet statements

For the year ending 31 January 2020 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 28 October 2020
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 2020

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 ofdiscounts. Turnover from the rendering of services is recognised by reference to the stage ofcompletion of the contract. The stage of completion of a contract is measured by comparing thecosts incurred for work performed to date to 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 &buildings, at rates calculated to write off the cost, less estimated residual value, of each assetevenly over its expected useful life, as follows:Freehold buildings over 50 yearsPlant and machinery over 5 yearsFixtures, fittings, tools and equipment over 5 years

Other accounting policies

Debtors: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.Creditors: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 2020

2. Employees

2020 2019
Average number of employees during the period 2 1

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2020

3. Tangible Assets

Total
Cost £
At 01 February 2019 909,616
Additions 163,828
At 31 January 2020 1,073,444
Depreciation
At 01 February 2019 3,900
Charge for year 1,200
At 31 January 2020 5,100
Net book value
At 31 January 2020 1,068,344
At 31 January 2019 905,716

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2020

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

Creditors includes secured bank loan of £782,007.00

SRI DEV LTD

Notes to the Financial Statements

for the Period Ended 31 January 2020

5. Revaluation reserve

2020
£
Balance at 01 February 2019 227,866
Surplus or deficit after revaluation 0
Balance at 31 January 2020 227,866