Rohit Soni & Co Limited - Period Ending 2016-06-30

Registration number: 04752746

Rohit Soni & Co Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 30 June 2016

Staines & Co Accountants
629 Foxhall Road
Ipswich
Suffolk
IP3 8NE

Rohit Soni & Co Limited

Contents

Abbreviated Balance Sheet	1 to 2
Notes to the Abbreviated Accounts	3 to 5

Rohit Soni & Co Limited

(Registration number: 04752746)
Abbreviated Balance Sheet as at 30 June 2016

	Note	2016  £		2015  £
Fixed assets
Intangible assets	2		18,461		36,919
Tangible assets	2		989,485		2,244
			1,007,946		39,163
Current assets
Stocks		17,005		18,020
Debtors		180,583		178,038
Cash at bank and in hand		403,474		684,530
		601,062		880,588
Prepayments and accrued income		603		1,579
Creditors: Amounts falling due within one year		(327,815)		(354,980)
Net current assets			273,850		527,187
Total assets less current liabilities			1,281,796		566,350
Creditors: Amounts falling due after more than one year			(705,018)		(32,863)
Accruals and deferred income			(4,195)		(2,800)
Net assets			572,583		530,687
Capital and reserves
Called up share capital	3	400		400
Profit and loss account		572,183		530,287
Shareholders funds			572,583		530,687

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Rohit Soni & Co Limited

(Registration number: 04752746)
Abbreviated Balance Sheet as at 30 June 2016

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 19 December 2016 and signed on its behalf by:

.........................................
Mr R N Soni
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Rohit Soni & Co Limited

Notes to the Abbreviated Accounts

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold improvements	25% reducing balance
Fixtures, fittings and equipment	25% reducing balance

Page 3

Rohit Soni & Co Limited

Notes to the Abbreviated Accounts

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with SSAP 19, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 July 2015	221,500	14,211	235,711
Additions	-	987,803	987,803
At 30 June 2016	221,500	1,002,014	1,223,514
Depreciation
At 1 July 2015	184,581	11,967	196,548
Charge for the year	18,458	562	19,020
At 30 June 2016	203,039	12,529	215,568
Net book value
At 30 June 2016	18,461	989,485	1,007,946
At 30 June 2015	36,919	2,244	39,163

Page 4

Rohit Soni & Co Limited

Notes to the Abbreviated Accounts

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100
Ordinary B of £1 each	100	100	100	100
Ordinary C of £1 each	100	100	100	100
Ordinary D of £1 each	100	100	100	100
	400	400	400	400

4

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 5