Sushel Ohri Associates Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04757846 (England and Wales)

SUSHEL OHRI ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

S K Ohri

Mrs M Ohri

SECRETARY:

S K Ohri

REGISTERED OFFICE:

Dallington Hall

Dallington Park Road

Northampton

Northamptonshire

NN5 7AA

REGISTERED NUMBER:

04757846 (England and Wales)

ACCOUNTANTS:

Haines Watts (SEM) Limited

26-28 Headlands

Kettering

Northamptonshire

NN15 7HP

FIXED ASSETS

Tangible assets

3

460

613

Investment property

4

366,447

366,447

366,907

367,060

CURRENT ASSETS

Debtors

5

2,801

2,291

Cash at bank

-

524

2,801

2,815

CREDITORS

Amounts falling due within one year

6

88,181

83,146

NET CURRENT LIABILITIES

(85,380

)

(80,331

)

TOTAL ASSETS LESS CURRENT LIABILITIES

281,527

286,729

PROVISIONS FOR LIABILITIES

72

98

NET ASSETS

281,455

286,631

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

281,355

286,531

SHAREHOLDERS' FUNDS

281,455

286,631

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 14 September 2017 and were signed on its behalf by:

S K Ohri - Director

1.	STATUTORY INFORMATION

Sushel Ohri 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

In accordance with the principles of revenue recognition as stated in FRS 102, turnover is calculated by

reference to the stage of completion of the transaction as at the end of the accounting period, including

estimates of amounts not yet invoiced.

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

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

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.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2016

and 30 April 2017

2,984

2,541

5,525

DEPRECIATION

At 1 May 2016

2,908

2,004

4,912

Charge for year

19

134

153

At 30 April 2017

2,927

2,138

5,065

NET BOOK VALUE

At 30 April 2017

57

403

460

At 30 April 2016

76

537

613

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

and 30 April 2017

366,447

NET BOOK VALUE

At 30 April 2017

366,447

At 30 April 2016

366,447

Cost or valuation at 30 April 2017 is represented by:

£

Valuation in 2012

(50,000

)

Cost

416,447

366,447

If Investment property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

416,447

416,447

Investment property was valued on a fair value basis on 30 April 2017 by Mr S K Ohri, a director of the company

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,491

892

Prepayments

1,310

1,399

2,801

2,291

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

488

-

Tax

77

4,638

VAT

247

1,399

Directors' current accounts

82,892

72,166

Accruals and deferred income

4,477

4,943

88,181

83,146

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

S K Ohri

Director and shareholder

2017

2016

£

£

Amount due to related party at the balance sheet date

77,892

72,166

Mrs M Ohri

Director and shareholder

During the year the company declared dividends amounting to £5,000 (2016 - £nil).

9.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the period ended 30 April 2017.

The effect of the transition from the previous financial reporting framework to FRS 102 has been considered.

There has been no material impact in relation to the following:

- changes in accounting policies

- changes in shareholders funds

- comparative year profit or loss

On that basis, no restatement has been undertaken.