Mehta Consultants Ltd 31/03/2021 iXBRL

Mehta Consultants Ltd 31/03/2021 iXBRL

MEHTA CONSULTANTS LTD - Company Information

Print Friendly Version

2 31/03/2021 2021-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2020-04-01 Sage Accounts Production 2020 Update 1 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 07538862 2020-04-01 2021-03-31 07538862 2021-03-31 07538862 2020-03-31 07538862 2019-04-01 2020-03-31 07538862 2020-03-31 07538862 core:NetGoodwill 2020-04-01 2021-03-31 07538862 core:FurnitureFittingsToolsEquipment 2020-04-01 2021-03-31 07538862 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 07538862 bus:OrdinaryShareClass2 2020-04-01 2021-03-31 07538862 bus:Director1 2020-04-01 2021-03-31 07538862 core:NetGoodwill 2021-03-31 07538862 core:FurnitureFittingsToolsEquipment 2020-03-31 07538862 core:FurnitureFittingsToolsEquipment 2021-03-31 07538862 core:WithinOneYear 2021-03-31 07538862 core:WithinOneYear 2020-03-31 07538862 core:ShareCapital 2021-03-31 07538862 core:ShareCapital 2020-03-31 07538862 core:RetainedEarningsAccumulatedLosses 2021-03-31 07538862 core:RetainedEarningsAccumulatedLosses 2020-03-31 07538862 bus:OrdinaryShareClass1 core:ShareCapital 2021-03-31 07538862 bus:OrdinaryShareClass1 core:ShareCapital 2020-03-31 07538862 bus:OrdinaryShareClass2 core:ShareCapital 2021-03-31 07538862 bus:OrdinaryShareClass2 core:ShareCapital 2020-03-31 07538862 bus:OrdinaryShareClass2 2020-03-31 07538862 bus:OrdinaryShareClass2 2021-03-31 07538862 core:NetGoodwill 2020-03-31 07538862 core:FurnitureFittingsToolsEquipment 2020-03-31 07538862 bus:SmallEntities 2020-04-01 2021-03-31 07538862 bus:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 07538862 bus:FullAccounts 2020-04-01 2021-03-31 07538862 bus:SmallCompaniesRegimeForAccounts 2020-04-01 2021-03-31 07538862 bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31
Company registration number: 07538862
Mehta Consultants Ltd
Unaudited filleted financial statements
31 March 2021
Mehta Consultants Ltd
Contents
Balance sheet
Notes to the financial statements
Mehta Consultants Ltd
Balance sheet
31 March 2021
2021 2020
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 1,282 1,602
_______ _______
1,282 1,602
Current assets
Debtors 7 167,924 24,207
Investments 8 117,329 90,320
Cash at bank and in hand 719,850 731,540
_______ _______
1,005,103 846,067
Creditors: amounts falling due
within one year 9 ( 47,446) ( 32,753)
_______ _______
Net current assets 957,657 813,314
_______ _______
Total assets less current liabilities 958,939 814,916
_______ _______
Net assets 958,939 814,916
_______ _______
Capital and reserves
Called up share capital 10 102 101
Profit and loss account 958,837 814,815
_______ _______
Shareholders funds 958,939 814,916
_______ _______
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 December 2021 , and are signed on behalf of the board by:
Dr Hemang Mehta Dr Kinnari Mehta
Director Director
Company registration number: 07538862
Mehta Consultants Ltd
Notes to the financial statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in the United Kingdom. The address of the registered office is Clifton House, Four Elms Road, Cardiff, CF24 1LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. However, no provision for deferred tax has been made in these financial statements, as, in the opinion of the directors, the amounts involved are not material.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Current asset investments are initially recognised and subsequently measured at fair value, with any changes recognised in profit or loss. All other financial instruments applicable to the company are basic as defined in the Accounting Standard, and as such are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2020 and 31 March 2021 9,960 9,960
_______ _______
Amortisation
At 1 April 2020 and 31 March 2021 9,960 9,960
_______ _______
Carrying amount
At 31 March 2021 - -
_______ _______
At 31 March 2020 - -
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2020 and 31 March 2021 2,624 2,624
_______ _______
Depreciation
At 1 April 2020 1,022 1,022
Charge for the year 320 320
_______ _______
At 31 March 2021 1,342 1,342
_______ _______
Carrying amount
At 31 March 2021 1,282 1,282
_______ _______
At 31 March 2020 1,602 1,602
_______ _______
7. Debtors
2021 2020
£ £
Trade debtors 17,624 23,536
Amounts owed by connected companies 150,300 -
Other debtors - 671
_______ _______
167,924 24,207
_______ _______
8. Investments
2021 2020
£ £
Other investments 117,329 90,320
_______ _______
9. Creditors: amounts falling due within one year
2021 2020
£ £
Social security and other taxes 35,731 25,110
Director loan accounts 2,355 -
Other creditors 9,360 7,643
_______ _______
47,446 32,753
_______ _______
10. Called up share capital
Issued, called up and fully paid
2021 2020
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
'A' Ordinary shares of £ 1.00 each 2 2 1 1
_______ _______ _______ _______
102 102 101 101
_______ _______ _______ _______
Share movements
No £
'A' Ordinary :
At 1 April 2020 1 1
Issue of shares 1 1
_______ _______
At 31 March 2021 2 2
_______ _______