Registration number:
Kulriya Limited
for the Year Ended 31 August 2023
Kulriya Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Kulriya Limited
Company Information
Director |
D S Juttla |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Financial Statements of
Kulriya Limited
for the Year Ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kulriya Limited for the year ended 31 August 2023, which comprises the statement of comprehensive income, 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 at
https://www.icaew.com/regulation/a-z.
It is your duty to ensure that Kulriya Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Kulriya Limited. You consider that Kulriya 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 Kulriya 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 accounts.
Use of our report
This report is made solely to the director of Kulriya Limited in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Kulriya Limited and state those matters that we have agreed to state to the director of Kulriya Limited, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kulriya Limited and its director for our work or for this report.
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Chartered Accountants
Champions Way
Hendon
London
NW4 1PX
Kulriya Limited
(Registration number: 07996915)
Balance Sheet as at 31 August 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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( |
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Shareholders' funds/(deficit) |
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( |
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The statement of comprehensive income and the director's report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
Approved and authorised for issue by the
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D S Juttla
Director
Kulriya Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
General information |
The company is a company limited by share capital incorporated in England. The registered office is shown on page 1.
The principal place of business is:
23 Priors Gardens
South Ruislip
Middlesex
HA4 6UG
England
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except where otherwise disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
The director is of the opinion that the preparation of the financial statements on a going concern basis is justified as the company has received assurance from the shareholders to cover its liquidity requirements. On that basis the director considers that the company will be able to meet its liabilities as they fall due for the forseeable future, being a period of at least 12 months from the date on which these financial statements are approved.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A Small Entities may require the use of certain critical accounting estimates. It may also require the director to exercise judgement in applying the accounting policies. |
In preparing these financial statements the director has had to make the following significant judgements: |
- The director has made an assumption in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. There is an inevitable degree of judgement involved in that every property is unique and value can only ultimately be reliably tested in the market itself. The valuation method is further described in note 3 together with the valuation of the property at the reporting date. |
- There were no other significant judgements or areas of estimation uncertainty. |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Kulriya Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Turnover
Turnover consists of rent receivable from letting of an investment property.
Tax
The tax expense for the year comprises current and, where applicable deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
Investment property
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, on a straight line basis, over their estimated useful lives as follows:
Asset |
Asset life |
Fixtures & fittings |
4 years |
Cash at bank and in hand
Cash comprises cash at bank.
Kulriya Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Financial instruments
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Tangible assets |
Investment property |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 September 2022 |
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At 31 August 2023 |
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Depreciation |
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At 1 September 2022 |
- |
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At 31 August 2023 |
- |
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Carrying amount |
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At 31 August 2023 |
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- |
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At 31 August 2022 |
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- |
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The investment property was valued at 31 August 2023 by D S Juttla, the director of the company, at fair value, supported by reference to market evidence of transaction prices for similar properties. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the state of the rental market in the area where the property is situated.
Kulriya Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Prepayments |
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Creditors |
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Shareholder's loans |
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Other creditors |
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Director's loans |
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VAT payable |
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Accruals |
2,000 |
2,000 |
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Other loan |
200,000 |
200,000 |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Kulriya Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Related party transactions |
Loans from related parties
2023 |
Director's loans |
Shareholder's loans |
At start of year |
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At end of year |
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2022 |
Director's loans |
Shareholder's loans |
At start of year |
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At end of year |
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Terms of loans from related parties
Employee information |
Including the director, the company had
Control |