I-India Limited - Period Ending 2021-08-31

I-India Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 4

I-India Limited

Company Information

Directors

Mr Clarel Sookun Mr Achim Herbert Vogt

Registered office

4 Ardgowan Road Catford London SE6 1AJ

Accountants

Aventus Partners Limited Hygeia Building Ground Floor 66-68 College Road Harrow Middlesex HA1 1BE

I-India Limited

(Registration number: 07747495)
Balance Sheet as at 31 August 2021

	Note	2021 £	2020 £
Current assets
Cash at bank and in hand		6,067	1,508
Creditors: Amounts falling due within one year	4	(6,067)	(1,508)
Net assets/(liabilities)		-	-
Capital and reserves
Shareholders' funds/(deficit)		-	-

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements were approved and authorised for issue by the Board on 16 May 2022 and signed on its behalf by:
 

.........................................

Mr Clarel Sookun
Director

I-India Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
4 Ardgowan Road
Catford
London
SE6 1AJ
United Kingdom

These financial statements were authorised for issue by the Board on 16 May 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

I-India Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021 (continued)

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3	Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 1 (2020: 1).

4

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Other creditors		6,067	1,508

Other creditors of £6,067 (2020 - £1,508) are reserves held for future charitable projects.