ASLI KULLAR GROUP LTD
|
Registered number: |
06525256
|
Balance Sheet |
as at 31 March 2020
|
|
Notes |
|
|
2020 |
|
|
2019 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
1,770,471 |
|
|
1,770,790 |
|
Current assets |
Debtors |
4 |
|
583 |
|
|
874 |
Cash at bank and in hand |
|
|
97,514 |
|
|
37,522 |
|
|
|
98,097 |
|
|
38,396 |
|
Creditors: amounts falling due within one year |
5 |
|
(168,114) |
|
|
(142,757) |
|
Net current liabilities |
|
|
|
(70,017) |
|
|
(104,361) |
|
Total assets less current liabilities |
|
|
|
1,700,454 |
|
|
1,666,429 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(1,133,126) |
|
|
(1,148,760) |
|
Provisions for liabilities |
7 |
|
|
(104,624) |
|
|
(97,672) |
|
|
Net assets |
|
|
|
462,704 |
|
|
419,997 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
Revaluation reserve |
8 |
|
|
446,030 |
|
|
452,982 |
Profit and loss account |
|
|
|
15,674 |
|
|
(33,985) |
|
Shareholder's funds |
|
|
|
462,704 |
|
|
419,997 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
|
The director acknowledges his 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.
|
|
|
|
|
A S Kullar |
Director |
Approved by the board on 30 March 2021
|
|
ASLI KULLAR GROUP LTD
|
Notes to the Accounts |
for the year ended 31 March 2020
|
|
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 represents the amount received for rents charged during the year exclusive of VAT.
|
|
|
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 investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
|
|
|
Fixtures, fittings and equipment |
- 10% per annum on cost. |
|
|
Investments |
|
In accordance with Financial Reporting Standard for Smaller Entities (effective January 2015) no depreciation is provided in respect of freehold properties held as investments. This is a depature from the requirements of the Companies Act 2006 which require all properties to be depreciated. Such properties are held for invetment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannnot be seperately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view.
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|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), 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 recognised at transaction price net of any transaction costs.
|
|
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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.
|
|
|
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 |
2020 |
|
2019 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Investment properties |
|
Fixtures, fittings and equipment |
|
Total |
£ |
£ |
£ |
|
Cost / Valuation |
|
At 1 April 2019 |
1,768,186 |
|
5,259 |
|
1,773,445 |
|
Additions |
- |
|
230 |
|
230 |
|
At 31 March 2020 |
1,768,186 |
|
5,489 |
|
1,773,675 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2019 |
- |
|
2,655 |
|
2,655 |
|
Charge for the year |
- |
|
549 |
|
549 |
|
At 31 March 2020 |
- |
|
3,204 |
|
3,204 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2020 |
1,768,186 |
|
2,285 |
|
1,770,471 |
|
At 31 March 2019 |
1,768,186 |
|
2,604 |
|
1,770,790 |
|
|
4 |
Debtors |
2020 |
|
2019 |
£ |
£ |
|
|
Trade debtors |
- |
|
300 |
|
Other debtors |
583 |
|
574 |
|
|
|
|
|
|
583 |
|
874 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
£ |
£ |
|
|
Bank loans and overdrafts |
(secured) |
50,668 |
|
28,234 |
|
Trade creditors |
100,617 |
|
109,873 |
|
Accrued expenses |
|
4,000 |
|
4,000 |
|
Corporation tax |
3,141 |
|
- |
|
Other creditors |
9,688 |
|
650 |
|
|
|
|
|
|
168,114 |
|
142,757 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
£ |
£ |
|
|
Bank loans |
(secured) |
1,101,537 |
|
781,358 |
|
Other creditors |
31,589 |
|
367,402 |
|
|
|
|
|
|
1,133,126 |
|
1,148,760 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2020 |
|
2019 |
£ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
898,864 |
|
668,424 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
1,152,205 |
|
809,592 |
|
|
|
|
|
|
|
|
|
|
The bank loans are secured by charges over the freehold investment properties owned by
|
|
the company. |
|
7 |
Provision for liabilities |
2020 |
|
2019 |
|
Deferred Taxation |
£ |
£ |
|
|
Investment property revaluation |
104,624 |
|
106,669 |
|
Losses carried forward |
- |
|
(8,997) |
|
|
At 31 March 2020 |
104,624 |
|
97,672 |
|
|
|
|
|
|
|
|
|
|
8 |
Revaluation reserve |
2020 |
|
2019 |
£ |
£ |
|
|
At 1 April 2019 |
452,982 |
|
- |
|
(Loss)/gain on revaluation of land and buildings |
(6,952) |
|
452,982 |
|
|
At 31 March 2020 |
446,030 |
|
452,982 |
|
|
|
|
|
|
|
|
|
|
9 |
Other information |
|
|
ASLI KULLAR GROUP LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
128 A Evington Road |
|
Leicester |
|
LE2 1HL |