MADHU SUBS LTD - Accounts

MADHU SUBS LTD - Accounts

MADHU SUBS LTD - Company Information

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Registered Number: 08767195
England and Wales

 

 

 

MADHU SUBS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

MADHU SUBS LTD
Contents Page
For the year ended 31 March 2022
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Intangible fixed assets 3,388    3,643 
Tangible fixed assets 73,484    77,311 
76,872    80,954 
Current assets      
Stocks 11,943    6,936 
Debtors: amounts falling due within one year 2,667    10,674 
Cash at bank and in hand 69,888    37,416 
84,498    55,026 
Creditors: amount falling due within one year (34,811)   (30,641)
Net current assets 49,687    24,385 
 
Total assets less current liabilities 126,559    105,339 
Creditors: amount falling due after more than one year (68,667)   (89,000)
Net assets 57,892    16,339 
 

Capital and reserves 		     
Called up share capital 10,000    10,000 
Profit and loss account 47,892    6,339 
Shareholder's funds 57,892    16,339 
 


For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 17 November 2022 and were signed by:


--------------------------------
Mr. Madhusudhana Reddy Upparlapalli
Director
1
General Information
MADHU SUBS LTD is a private company, limited by shares, registered in England and Wales, registration number 08767195, registration address Office Gold, Building 3, Chiswick Park, 566 Chiswick High Road, London, W4 5YA

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government Grants has been received by the company with respect to "Coronavirus Job Retention Scheme".
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 3 Straight Line
Fixtures and Fittings 25 Reducing Balance
Land and Buildings 7 Reducing Balance
Motor Vehicles 25 Reducing Balance
Plant and Machinery 25 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 11 (2021 : 13).
3.

Intangible fixed assets

Cost Patents and Licenses   Total
  £   £
At 01 April 2021 5,982    5,982 
Additions -    - 
Disposals -    - 
At 31 March 2022 5,982    5,982 
Amortisation
At 01 April 2021 2,339    2,339 
Charge for year 255    255 
On disposals -    - 
At 31 March 2022 2,594    2,594 
Net book values
At 31 March 2022 3,388    3,388 
At 31 March 2021 3,643    3,643 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Plant and Machinery   Fixtures and Fittings   Motor Vehicles   Land and Buildings   Total
  £   £   £   £   £   £
At 01 April 2021 333    37,363    10,406    4,750    113,450    166,302 
Additions -    2,994    449    -    -    3,443 
Disposals -    -    -    -    -    - 
At 31 March 2022 333    40,357    10,855    4,750    113,450    169,745 
Depreciation
At 01 April 2021 333    32,107    8,376    3,859    44,316    88,991 
Charge for year -    1,686    521    223    4,840    7,270 
On disposals -    -    -    -    -    - 
At 31 March 2022 333    33,793    8,897    4,082    49,156    96,261 
Net book values
Closing balance as at 31 March 2022 -    6,564    1,958    668    64,294    73,484 
Opening balance as at 01 April 2021 -    5,256    2,030    891    69,134    77,311 


5.

Share Capital

Authorised
100 Ordinary shares of £100.00 each
Allotted, called up and fully paid
2022
£		   2021
£
100 Ordinary shares of £100.00 each 10,000    10,000 
10,000    10,000 

2