R Bhatt Associates Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07187456 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

R BHATT ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

Dr R Bhatt

Mrs R R Bhatt

REGISTERED OFFICE:

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

REGISTERED NUMBER:

07187456 (England and Wales)

ACCOUNTANTS:

Crowfoot & Co Accountants Ltd

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,523,825

1,523,706

Investments

6

960,935

788,280

2,484,760

2,311,986

CURRENT ASSETS

Cash at bank

6,496

5,944

CREDITORS

Amounts falling due within one year

7

1,017,324

788,148

NET CURRENT LIABILITIES

(1,010,828

)

(782,204

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,473,932

1,529,782

CREDITORS

Amounts falling due after more than one year

8

(715,760

)

(715,760

)

PROVISIONS FOR LIABILITIES

(22,651

)

(22,628

)

NET ASSETS

735,521

791,394

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

9

115,387

115,387

Retained earnings

620,132

676,005

SHAREHOLDERS' FUNDS

735,521

791,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 21 October 2022 and were signed on its behalf by:

Dr R Bhatt - Director

Mrs R R Bhatt - Director

1.	STATUTORY INFORMATION

R Bhatt Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of three 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.

Fixtures and fittings

-

15% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

380,000

AMORTISATION

At 1 April 2021

and 31 March 2022

380,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 April 2021

1,520,000

10,235

1,530,235

Additions

-

792

792

At 31 March 2022

1,520,000

11,027

1,531,027

DEPRECIATION

At 1 April 2021

-

6,529

6,529

Charge for year

-

673

673

At 31 March 2022

-

7,202

7,202

NET BOOK VALUE

At 31 March 2022

1,520,000

3,825

1,523,825

At 31 March 2021

1,520,000

3,706

1,523,706

Cost or valuation at 31 March 2022 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2022

1,520,000

11,027

1,531,027

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2021

788,280

Additions

172,655

At 31 March 2022

960,935

NET BOOK VALUE

At 31 March 2022

960,935

At 31 March 2021

788,280

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

-

348

Other creditors

1,017,324

787,800

1,017,324

788,148

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

715,760

715,760

9.

RESERVES

Revaluation

reserve

£

At 1 April 2021

and 31 March 2022

115,387

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 March 2022, an amount of £17,652 (2021 £43,128) was due to the directors, which amount is included within creditors on the balance sheet.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr Rajesh and Mrs Reshma Bhatt.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R Bhatt Associates Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of R Bhatt Associates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R Bhatt Associates Limited and state those matters that we have agreed to state to the Board of Directors of R Bhatt Associates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R Bhatt Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R Bhatt Associates Limited. You consider that R Bhatt Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R Bhatt Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Crowfoot & Co Accountants Ltd

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

21 October 2022