Alok Tyagi Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05835812 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th June 2020

for

Alok Tyagi Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

48,746

57,109

CURRENT ASSETS

Debtors

5

26,997

54,889

Cash at bank

70,430

36,869

97,427

91,758

CREDITORS

Amounts falling due within one year

6

34,218

24,367

NET CURRENT ASSETS

63,209

67,391

TOTAL ASSETS LESS CURRENT LIABILITIES

111,955

124,500

CREDITORS

Amounts falling due after more than one year

7

(45,014

)

(52,745

)

PROVISIONS FOR LIABILITIES

(402

)

(427

)

NET ASSETS

66,539

71,328

CAPITAL AND RESERVES

Called up share capital

8

111

110

Retained earnings

66,428

71,218

SHAREHOLDERS' FUNDS

66,539

71,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2020 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd March 2021 and were signed on its behalf by:

Dr A Tyagi - Director

1.	COMPANY INFORMATION

Alok Tyagi Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05835812

Registered office:

First Floor

49 Peter Street

Manchester

M2 3NG

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There have been no critical judgements, estimates or assumptions made in the preparation of these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets

Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and Fittings - 25% on cost

Motor Vehicle -15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Assets under hire purchase/lease

The net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st July 2019

9,607

64,540

74,147

Additions

1,866

-

1,866

Disposals

(7,418

)

-

(7,418

)

At 30th June 2020

4,055

64,540

68,595

DEPRECIATION

At 1st July 2019

7,357

9,681

17,038

Charge for year

866

8,229

9,095

Eliminated on disposal

(6,284

)

-

(6,284

)

At 30th June 2020

1,939

17,910

19,849

NET BOOK VALUE

At 30th June 2020

2,116

46,630

48,746

At 30th June 2019

2,250

54,859

57,109

Included within the net book value of £48,746 is £46,630 (2019 - £54,859) relating to assets held under hire purchase agreements.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

8,482

36,374

Other debtors

18,515

18,515

26,997

54,889

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Hire purchase contracts

7,758

6,972

Trade creditors

-

1,050

Tax

23,554

13,697

Directors' current accounts

313

53

Accrued expenses

2,593

2,595

34,218

24,367

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.20

30.6.19

£

£

Hire purchase contracts

45,014

52,745

The net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate - Motor Vehicle

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.20

30.6.19

value:

£

£

70

Ordinary A

£1

70

70

30

Ordinary B

£1

30

30

10

Ordinary C

£1

10

10

1

Ordinary D

£1

1

-

(30.6.19 - NIL)

111

110

Allotted and issued:

Number:

Class:

Nominal

30.6.20

30.6.19

value:

£

£

1

Ordinary D

£1

1

-

(30.6.19 - NIL)

The following shares were issued during the year for cash at par :

1 Ordinary D share of £1

The A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The B, C and D Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The A, B, C and D Shares rank pari passu in respect of dividend and capital distribution rights.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2020 and 30th June 2019:

30.6.20

30.6.19

£

£

Dr A Tyagi

Balance outstanding at start of year

53

(35,778

)

Amounts advanced

100,237

138,613

Amounts repaid

(99,977

)

(102,782

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

313

53

The loan is repayable on demand and no interest was charged during the year.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr Tyagi by virtue of holding 100% of the voting share capital.