Aarti Sarees Limited - Filleted accounts

Registered number

02403766

Aarti Sarees Limited

Filleted Accounts

30 September 2017

Aarti Sarees Limited
Registered number:		02403766
Balance Sheet
as at 30 September 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	3		12,975			14,177

Current assets
Stocks		97,652			107,350
Debtors	4	230			2,743
Cash at bank and in hand		196,414			110,492
		294,296			220,585

Creditors: amounts falling due within one year	5	(150,481)			(99,556)

Net current assets			143,815			121,029

Net assets			156,790			135,206

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			155,790			134,206

Shareholders' funds			156,790			135,206

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Dhirendra Nemchand Shah
Director
Approved by the board on 14 June 2018

Aarti Sarees Limited
Notes to the Accounts
for the year ended 30 September 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	15%reducing balance
	Shop Extension	20% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees			2017		2016
Number					Number

	Average number of persons employed by the company			4		4


3	Tangible fixed assets
		Shop extension		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 October 2016	12,670		45,234		57,904
	At 30 September 2017	12,670		45,234		57,904

	Depreciation
	At 1 October 2016	4,812		38,916		43,728
	Charge for the year	253		948		1,201
	At 30 September 2017	5,065		39,864		44,929

	Net book value
	At 30 September 2017	7,605		5,370		12,975
	At 30 September 2016	7,858		6,319		14,177


4	Debtors			2017		2016
£					£

	Other debtors			230		2,743


5	Creditors: amounts falling due within one year			2017		2016
£					£

	Trade creditors			10,734		17,184
	Director's account			114,978		57,415
	Taxation and social security costs			16,296		17,199
	Other creditors			8,473		7,758
				150,481		99,556


6	Other information

	Aarti Sarees Limited is a private company limited by shares and incorporated in England. Its registered office is:
	22 South Road
	Southall
	Middlesex
	UB1 1RT