Asian Business Publications Limited - Accounts to registrar (filleted) - small 18.2
Asian Business Publications Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2021 |
for |
Asian Business Publications Limited |
Asian Business Publications Limited (Registered number: 02234219) |
Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
Asian Business Publications Limited |
Company Information |
for the Year Ended 31 March 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 More London Riverside |
London |
SE1 2RE |
Asian Business Publications Limited (Registered number: 02234219) |
Balance Sheet |
31 March 2021 |
31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
Asian Business Publications Limited (Registered number: 02234219) |
Balance Sheet - continued |
31 March 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
Asian Business Publications Limited (Registered number: 02234219) |
Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
1. | STATUTORY INFORMATION |
Asian Business Publications Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company's parent company is Gujarat Samachar Publications Limited, registered in England and Wales ( registered number 01291862) and it has the same registered address. |
The financial statements are presented in Sterling,which is the functional currency of the company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis on the assumption that the directors will continue to support the company. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Subscription income is recognised by reference to the number of months covered by the subscription falling before the accounting date. The balance of the subscription is included in creditors either due within one year or after one year as appropriate.The Company records advertising income on the publication date. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its remaining estimated life. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Asian Business Publications Limited (Registered number: 02234219) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange rulling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account as incurred. |
Pensions |
Contributions in respect of the company's defined contribution personal pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
AMORTISATION |
At 1 April 2020 |
Charge for year |
At 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
Asian Business Publications Limited (Registered number: 02234219) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
DEPRECIATION |
At 1 April 2020 |
Charge for year |
At 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
6. | DEBTORS |
31.3.21 | 31.3.20 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Asian Business Publications Limited (Registered number: 02234219) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020: |
31.3.21 | 31.3.20 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
During the year, the Directors financed the company by way of current accounts as follows: |
31/3/2021 £106,602 |
31/3/2020 £187,916 |
The above current accounts are interest free. |
On 16 November 2011, the company guaranteed an amount up to £500,000 in respect of the loan raised Miss S M Patel from Barclays Bank PLC for £1,414,000. The guarantee was cancelled following the repayment of the loan to Barclays Bank PLC by Miss S M Patel on 22 October 2021. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Asian Business Publications Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Asian Business Publications Limited for the year ended 31 March 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Asian Business Publications Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Asian Business Publications Limited and state those matters that we have agreed to state to the Board of Directors of Asian Business Publications Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Asian Business Publications Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Asian Business Publications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Asian Business Publications Limited. You consider that Asian Business Publications Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Asian Business Publications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
3 More London Riverside |
London |
SE1 2RE |