Abbreviated Company Accounts - SHREENATH UK LIMITED
Abbreviated Company Accounts - SHREENATH UK LIMITED
Registered Number 06523047
SHREENATH UK LIMITED
Abbreviated Accounts
31 March 2014
SHREENATH UK LIMITED Registered Number 06523047
Abbreviated Balance Sheet as at 31 March 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
For the year ending 31 March 2014 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 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
And signed on their behalf by:
SHREENATH UK LIMITED Registered Number 06523047
Notes to the Abbreviated Accounts for the period ended 31 March 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures,Fittings & Equipment - 25% on reducing balance basis
Intangible assets amortisation policy
Goodwill - 10% on straight line basis
Other accounting policies
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, 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 is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.
Deferred taxation
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax or a right to pay less tax, at a future date, at rates expected to apply when they crystallise, based on current tax rates and law. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
£ | |
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Cost | |
At 1 April 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2014 |
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Amortisation | |
At 1 April 2013 |
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Charge for the year |
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On disposals |
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At 31 March 2014 |
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Net book values | |
At 31 March 2014 | 240,000 |
At 31 March 2013 | 300,000 |
£ | |
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Cost | |
At 1 April 2013 |
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Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 March 2014 |
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Depreciation | |
At 1 April 2013 |
|
Charge for the year |
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On disposals |
|
At 31 March 2014 |
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Net book values | |
At 31 March 2014 | 1,268,362 |
At 31 March 2013 | 1,273,800 |