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REGISTERED NUMBER: 12432271 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Good Karma Living Ltd

Good Karma Living Ltd (Registered number: 12432271)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Good Karma Living Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: P Rehal
Mrs G Rehal





REGISTERED OFFICE: Commerce House
658b Chatsworth Road
Chesterfield
Derbyshire
S40 3JZ





REGISTERED NUMBER: 12432271 (England and Wales)





ACCOUNTANTS: Hadfields Accountants
Commerce House
658B Chatsworth Road
Chesterfield
Derbyshire
S40 3JZ

Good Karma Living Ltd (Registered number: 12432271)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,923,424 917,357

CURRENT ASSETS
Debtors 5 12,885 7,609
Cash at bank 72,685 16,426
85,570 24,035
CREDITORS
Amounts falling due within one year 6 519,746 294,971
NET CURRENT LIABILITIES (434,176 ) (270,936 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,489,248

646,421

CREDITORS
Amounts falling due after more than one
year

7

1,543,766

664,428
NET LIABILITIES (54,518 ) (18,007 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (54,522 ) (18,011 )
(54,518 ) (18,007 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Good Karma Living Ltd (Registered number: 12432271)

Balance Sheet - continued
31 January 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:




P Rehal - Director



Mrs G Rehal - Director


Good Karma Living Ltd (Registered number: 12432271)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Good Karma Living Ltd 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

Good Karma Living Ltd (Registered number: 12432271)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 913,169 6,036 919,205
Additions 1,000,082 9,346 1,009,428
Disposals - (568 ) (568 )
At 31 January 2023 1,913,251 14,814 1,928,065
DEPRECIATION
At 1 February 2022 - 1,848 1,848
Charge for year - 2,885 2,885
Eliminated on disposal - (92 ) (92 )
At 31 January 2023 - 4,641 4,641
NET BOOK VALUE
At 31 January 2023 1,913,251 10,173 1,923,424
At 31 January 2022 913,169 4,188 917,357

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 12,885 7,609

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 169,005 4,265
Trade creditors 10,084 1,062
Taxation and social security 4 13
Other creditors 340,653 289,631
519,746 294,971

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,543,766 664,428

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,543,766 664,428