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REGISTERED NUMBER:
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RAJ & KNOLL LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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REGISTERED NUMBER:
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RAJ & KNOLL LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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RAJ & KNOLL LIMITED (REGISTERED NUMBER: 03136897) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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RAJ & KNOLL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
424 Margate Road |
Westwood |
Ramsgate |
Kent |
CT12 6SJ |
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SOLICITORS: |
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127 High Street |
Deal |
Kent |
CT14 6BD |
RAJ & KNOLL LIMITED (REGISTERED NUMBER: 03136897) |
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BALANCE SHEET |
31 MARCH 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
RAJ & KNOLL LIMITED (REGISTERED NUMBER: 03136897) |
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BALANCE SHEET - continued |
31 MARCH 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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RAJ & KNOLL LIMITED (REGISTERED NUMBER: 03136897) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Raj & Knoll Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents invoiced services provided and includes irrecoverable value added tax. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
RAJ & KNOLL LIMITED (REGISTERED NUMBER: 03136897) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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3. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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AMORTISATION |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Revaluation and transfers |
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The Freehold Investment Property class of fixed assets was revalued on 10 December 2012 by an MRICS |
qualified valuer who is external to the company. The basis of the valuation was on open market value of the |
investment properties. |
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An interim valuation of the Freehold Investment Property class of fixed assets was carried out by the directors |
on 31 March 2017. |
RAJ & KNOLL LIMITED (REGISTERED NUMBER: 03136897) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Cost or valuation at 31 March 2017 is represented by: |
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£ |
Valuation in 2014 | 793,363 |
Valuation in 2015 | (200,000 | ) |
593,363 |
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6. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Sundry debtors |
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Loans to employees | 25,816 | 4,273 |
Prepayments and accrued income |
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Amounts falling due after more than one year: |
Sundry debtors |
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Aggregate amounts |
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RAJ & KNOLL LIMITED (REGISTERED NUMBER: 03136897) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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6. | DEBTORS - continued |
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Amounts falling due after more than one year, include the following sums owed by undertakings in which the |
company has participating interest: |
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A Loan to NPS Property Holding Limited is the sum of £1,806,063 (2016: £1,758,656). Mr N G Patel and Mrs |
A N Patel are sole directors and shareholders in NPS Property Holdings Limited. The loan is unsecured, interest |
free and has no fixed repayment date. In addition, no regular repayments have been made or agreed with the |
borrower. |
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A Loan to NPS (Deal) Limited in the sum of £1,542,384 (2016: £1,219,160). NPS Deal Limited is owned by |
Miss N and Mr P Patel, the children of Mr N and Mrs A Patel. The loan is unsecured, interest free and repayable |
with 12 months notice from Raj & Knoll Limited. |
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A Loan to Prem Estates Limited in the sum of £3,014,795 (2016: £134,600). Mrs A N Patel is a director and |
51% shareholder of Prem Estates Limited. The loan is unsecured, interest free and repayable with 12 months |
notice from Raj & Knoll Limited. |
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A Loan to NPS Property Enfield Limited £374,787 (2016: £378,397) This company is a 100% subsidiary of |
NPS Property Holdings Limited, a company owned and controlled by Mrs A N Patel and Mr N G Patel. |
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A Loan to NPS Property (Gillingham) Limited £74,000 (2016: £74,000) This company is a 100% subsidiary of |
NPS Property Holdings Limited, a company owned and controlled by Mrs A N Patel and Mr N G Patel. |
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A Loan to NPS Property (Eastbourne) Limited £16,650 (2016: £0) This company is a 100% subsidiary of NPS |
Property Holdings Limited, a company owned and controlled by Mrs A N Patel and Mr N G Patel. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation Tax |
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Social security and other taxes |
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Sundry creditors |
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Directors' current accounts | 4,460 | 21,788 |
Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 2-5 years |
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Treasury Loan 84161297 |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Treasury Loan 84161297 | 563,102 | 668,594 |
RAJ & KNOLL LIMITED (REGISTERED NUMBER: 03136897) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Related party transactions |
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During the year the company made the following related party transactions: |
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During the year the company was owed £1,806,063 from NPS Property Holdings Limited. Mr N G Patel and |
Mrs A N Patel are sole directors and shareholders in NPS Property Holdings Limited. The loan is unsecured, |
interest free and has no fixed repayment date. In addition, no regular repayments have been made or agreed with |
the borrower. |
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During the year the company provided additional loans to NPS (Deal) Limited the total outstanding at the year |
end was £1,542,389. During the year the company ownership was passed to Mr P and Ms N Patel, the children |
of Mr N and Mrs A Patel. The loan is unsecured, interest free and repayable within 12 months notice from Raj |
& Knoll Limited. |
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At the balance sheet date £3,014,795 was due from Prem Estates Limited. Mrs A N Patel is a 51% shareholder |
in Prem Estates Limited. The loan is unsecured, interest free and repayable with 12 months notice from Raj & |
Knoll Limited |
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At the balance sheet date the loan to NPS Property Enfield Limited remained at £374,787. NPS Property |
Enfield Limited is a 100% subsidiary of NPS Property Holdings Limited, a company controlled by Mr N G Patel |
and Mrs A N Patel. |
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At the balance sheet date the loan to NPS Property (Gillingham) Limited of £74,000 remained outstanding. NPS |
Property (Gillingham) Limited is a 100% subsidiary of NPS Property Holdings Limited, a company controlled |
by Mr N G Patel and Mrs A N Patel. |
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During the year the company issued a loan to NPS Property (Eastbourne) Limited for £16,650. NPS Property |
(Eastbourne) Limited is a 100% subsidiary of NPS Property Holdings Limited, a company controlled by Mr N G |
Patel and Mrs A N Patel. |
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At the balance sheet date the amount due to Mr N G Patel and Mrs A N Patel was £15,179 (2016:£21,787) |
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10. | CONTROLLING PARTY |
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The company is controlled by the directors who own 100% of the called up share capital. |