ACCOUNTS - Final Accounts

P S CHAUDHARI LIMITED - Company Information

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Registered number: 08764072

P S CHAUDHARI LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2018

P S CHAUDHARI LIMITED

REGISTERED NUMBER: 08764072

BALANCE SHEET

AS AT 30 APRIL 2018

		2018		2017
Note		£		£

Fixed assets
Investments	4		141,138		142,786
			141,138		142,786
Current assets
Debtors: amounts falling due after more than one year		8,340		-
Cash at bank and in hand	6	11,000		1,798
		19,340		1,798
Creditors: amounts falling due within one year	7	(77,325)		(80,508)
Net current liabilities			(57,985)		(78,710)
Total assets less current liabilities			83,153		64,076

Net assets			83,153		64,076

Capital and reserves
Called up share capital	8	3	3
Other reserves		9,247	907
Profit and loss account		73,903	63,166
		83,153	64,076

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P S CHAUDHARI LIMITED

REGISTERED NUMBER: 08764072

BALANCE SHEET (CONTINUED)

AS AT 30 APRIL 2018

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 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 19 December 2018.

P S Chaudhari

Director

The notes on pages 3 to 5 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 2018

1.	General information

P S Chaudhari Limited is private limited company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Hazeldine House, Central Square, Telford, Shropshire, TF3 4JL.

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 the Profit and loss account using the effective interest method.

2.4

Taxation

Tax is recognised in the Profit and loss account, 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.

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P S CHAUDHARI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

2.Accounting policies (continued)

2.5

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.

2.6

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.

2.7

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 (2017 - 1).

4.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	At 1 May 2017	142,786
	Additions	(1,648)
	At 30 April 2018	141,138

	Net book value
	At 30 April 2018	141,138
	At 30 April 2017	142,786

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P S CHAUDHARI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

Debtors

Due after more than one year
Due from participating interests	8,340	-
	8,340	-

6.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	11,000	1,798
	11,000	1,798

7.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	19,363	22,906
Other creditors	57,380	57,032
Accruals and deferred income	582	570
	77,325	80,508

8.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

0 (2017 - 3) Ordinary shares of £1.00 each	-	3.00
285 (2017 - 0) Ordinary A Shares shares of £0.01 each	2.85	-
15 (2017 - 0) Ordinary B Shares shares of £0.01 each	0.15	-

	3.00	3.00

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