ACCOUNTS - Final Accounts preparation

P S CHAUDHARI LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-302021-05-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08764072 2021-05-01 2022-04-30 08764072 2020-05-01 2021-04-30 08764072 2022-04-30 08764072 2021-04-30 08764072 c:Director1 2021-05-01 2022-04-30 08764072 d:CurrentFinancialInstruments 2022-04-30 08764072 d:CurrentFinancialInstruments 2021-04-30 08764072 d:Non-currentFinancialInstruments 2022-04-30 08764072 d:Non-currentFinancialInstruments 2021-04-30 08764072 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 08764072 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 08764072 d:ShareCapital 2022-04-30 08764072 d:ShareCapital 2021-04-30 08764072 d:RevaluationReserve 2022-04-30 08764072 d:RevaluationReserve 2021-04-30 08764072 d:OtherMiscellaneousReserve 2022-04-30 08764072 d:OtherMiscellaneousReserve 2021-04-30 08764072 d:RetainedEarningsAccumulatedLosses 2022-04-30 08764072 d:RetainedEarningsAccumulatedLosses 2021-04-30 08764072 c:OrdinaryShareClass1 2021-05-01 2022-04-30 08764072 c:OrdinaryShareClass1 2022-04-30 08764072 c:OrdinaryShareClass1 2021-04-30 08764072 c:OrdinaryShareClass2 2021-05-01 2022-04-30 08764072 c:OrdinaryShareClass2 2022-04-30 08764072 c:OrdinaryShareClass2 2021-04-30 08764072 c:FRS102 2021-05-01 2022-04-30 08764072 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 08764072 c:FullAccounts 2021-05-01 2022-04-30 08764072 c:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 08764072 2 2021-05-01 2022-04-30 08764072 5 2021-05-01 2022-04-30 08764072 6 2021-05-01 2022-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08764072

P S CHAUDHARI LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2022

P S CHAUDHARI LIMITED

REGISTERED NUMBER: 08764072

BALANCE SHEET

AS AT 30 APRIL 2022

		2022		2021
Note		£		£

Fixed assets
Investments	4		379,577		334,852
			379,577		334,852
Current assets
Debtors: amounts falling due after more than one year	5	348,469		244,826
Debtors: amounts falling due within one year	5	15,000		-
Cash at bank and in hand	6	9,000		12,000
		372,469		256,826
Creditors: amounts falling due within one year	7	(69,280)		(90,883)
Net current assets			303,189		165,943
Total assets less current liabilities			682,766		500,795

Net assets			682,766		500,795

Capital and reserves
Called up share capital	8	3	3
Revaluation reserve		5,806	4,849
Other reserves		347,223	245,024
Profit and loss account		329,734	250,919
		682,766	500,795

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P S CHAUDHARI LIMITED

REGISTERED NUMBER: 08764072

BALANCE SHEET (CONTINUED)

AS AT 30 APRIL 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 January 2023.

P S Chaudhari

Director

The notes on pages 3 to 7 form part of these financial statements.

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P S CHAUDHARI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

1.	General information

P S Chaudhari Limited, 08764072, is a private limited company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Lanyon Bowdler, Kendal Court, Ironmasters Way, Telford, Shropshire, TF3 4DT.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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P S CHAUDHARI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

2.7

Valuation of investments

Investments held as fixed assets are shown as cost less provision for impairment. Investments are stated at cost, plus allocated profits, less drawings to date, plus any revaluations.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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P S CHAUDHARI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

4.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	At 1 May 2021	334,852
	Additions	44,725
	At 30 April 2022	379,577

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P S CHAUDHARI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

5.	Debtors
		2022	2021
		£	£

Due after more than one year
Due from participating interests	348,469	244,826
	348,469	244,826

					2022	2021
					£	£

Due within one year
Other debtors	15,000	-
	15,000	-

6.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	9,000	12,000
	9,000	12,000

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Other taxation and social security	43,021	43,846
Other creditors	25,557	46,359
Accruals and deferred income	702	678
	69,280	90,883

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P S CHAUDHARI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

8.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

285 (2021 - 285) Ordinary A Shares shares of £0.01 each	2.85	2.85
15 (2021 - 15) Ordinary B Shares shares of £0.01 each	0.15	0.15

	3.00	3.00

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