SATVIK INVESTMENTS LIMITED - Accounts

SATVIK INVESTMENTS LIMITED - Accounts

SATVIK INVESTMENTS LIMITED - Company Information

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Registered Number: 12393499
England and Wales

 

 

 

SATVIK INVESTMENTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 09 January 2020

End date: 31 January 2021

SATVIK INVESTMENTS LIMITED
Contents Page
For the period ended 31 January 2021
 
 		 Notes
 		 2021
£
Fixed assets    
Tangible fixed assets 729,375 
729,375 
Current assets    
Debtors 90 
Cash at bank and in hand 97,170 
97,260 
Creditors: amount falling due within one year (600)
Net current assets 96,660 
 
Total assets less current liabilities 826,035 
Creditors: amount falling due after more than one year (827,941)
Net liabilities (1,906)
 

Capital and reserves 		   
Called up share capital 3 90 
Profit and loss account (1,996)
Shareholders funds (1,906)
 


For the period ended 31 January 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period 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 board of directors on 01 August 2021 and were signed on its behalf by:


--------------------------------
Ketan Harsukhbhai Vaghasiya
Director
1
General Information
SATVIK INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12393499, registration address 26 Barnhurst Path, Watford, England, WD19 6TT

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 on the going concern basis and 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.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
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
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:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
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.
2.

Average number of employees

Average number of employees during the period was 0.
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 09 January 2020 -    - 
Additions 729,375    729,375 
Disposals -    - 
At 31 January 2021 729,375    729,375 
Depreciation
At 09 January 2020 -    - 
Charge for period -    - 
On disposals -    - 
At 31 January 2021 -    - 
Net book values
Closing balance as at 31 January 2021 729,375    729,375 
Opening balance as at 09 January 2020 -    - 


4.

Share Capital

Allotted, called up and fully paid
2021
£
90 Class A shares of £1.00 each 90 
90 

2