Avyukth Limited
Unaudited Financial Statements
For Filing with Registrar
For the period ended 31 July 2020
Company Registration No. 12126750 (England and Wales)
Avyukth Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Avyukth Limited
Balance Sheet
As at 31 July 2020
Page 1
2020
Notes
£
£
Current assets
Debtors
4
464
Cash at bank and in hand
3,290
3,754
Creditors: amounts falling due within one year
5
(3,264)
Net current assets
490
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
390
Total equity
490
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 28 April 2021
Dr K P Bellam Premnath
Director
Company Registration No. 12126750
Avyukth Limited
Notes to the Financial Statements
For the period ended 31 July 2020
Page 2
1
Accounting policies
Company information
Avyukth Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
1.2
Going concern
While the spread of the coronavirus has a negative impact on business activities, it is currently not possible to make a reliable estimate on the depth of the impact on business activities. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the
true
foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has basic financial instruments at amortised cost, with no financial instruments classified as other or basic instrument measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Avyukth Limited
Notes to the Financial Statements (Continued)
For the period ended 31 July 2020
Page 3
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 1
.
3
Taxation
2020
£
Current tax
UK corporation tax on profits for the current period
176
4
Debtors
2020
Amounts falling due within one year:
£
Prepayments and accrued income
464
5
Creditors: amounts falling due within one year
2020
£
Corporation tax
176
Other creditors
2,088
Accruals and deferred income
1,000
3,264
Included in other creditors is £2,088 due to the director.
6
Called up share capital
2020
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100