Registration number:
Kiara Ltd
for the Year Ended 31 August 2023
Kiara Ltd
Contents
__________________________________________________________________________
Company Information |
|
Director's Report |
|
Accountants' Report |
|
Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Unaudited Financial Statements |
Kiara Ltd
Company Information
__________________________________________________________________________
Director |
Dr Yougantheran Pillay |
Company secretary |
Mrs Colleen Pillay |
Registered office |
|
Accountants |
|
Kiara Ltd
Director's Report for the Year Ended 31 August 2023
__________________________________________________________________________
The director presents his report and the financial statements for the year ended 31 August 2023.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is Medical Doctor
Small companies provision statement
This report has 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.
Approved by the Board on
Dr Yougantheran Pillay
Director
Chartered Accountants' Report to the Director on the Preparation of the Statutory Accounts of
Kiara Ltd
__________________________________________________________________________
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kiara Ltd for the year ended 31 August 2023 as set out on pages 4 to 12 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
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Kiara Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Kiara Ltd and state those matters that we have agreed to state to the Board of Directors of Kiara Ltd, as a body, 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 Kiara Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Kiara Ltd 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 Kiara Ltd. You consider that Kiara Ltd 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 accounts of Kiara Ltd. 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.
342 Regents Park Road
London
N3 2LJ
Kiara Ltd
Profit and Loss Account for the Year Ended 31 August 2023
__________________________________________________________________________
Note |
2023 |
2022 |
|
turnover |
|
|
|
Administrative expenses |
( |
( |
|
Operating profit |
|
|
|
Interest payable and similar charges |
( |
( |
|
Profit before tax |
|
|
|
Taxation |
( |
( |
|
Profit for the financial year |
|
|
|
Retained earnings brought forward |
(1,122) |
13,859 |
|
Dividends paid |
( |
( |
|
Retained earnings carried forward |
(1,590) |
(1,122) |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Kiara Ltd
Statement of Comprehensive Income for the Year Ended 31 August 2023
__________________________________________________________________________
2023 |
2022 |
|
Profit for the year |
|
|
Total comprehensive income for the year |
|
|
Kiara Ltd
(Registration number: 04869844)
Balance Sheet as at 31 August 2023
__________________________________________________________________________
Note |
2023 |
2022 |
|||
fixed assets |
|||||
tangible assets |
|
|
|||
Current assets |
|||||
Debtors |
|
|
|||
Creditors: Amounts falling due within one year |
( |
( |
|||
Net current liabilities |
( |
( |
|||
Net liabilities |
( |
( |
|||
capital and reserves |
|||||
Called up share capital |
|
|
|||
Profit and loss account |
( |
( |
|||
Total equity |
( |
( |
For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Kiara Ltd
Statement of Changes in Equity for the Year Ended 31 August 2023
__________________________________________________________________________
Share capital |
Retained earnings |
Total |
|
At 1 September 2022 |
|
( |
( |
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 August 2023 |
|
( |
( |
Kiara Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
__________________________________________________________________________
Accounting policies |
Summary of significant accounting policies and key accounting estimates
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% on reducing balance basis |
Kiara Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
__________________________________________________________________________
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
Kiara Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
__________________________________________________________________________
2023 |
2022 |
|
Depreciation expense |
|
|
Kiara Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
__________________________________________________________________________
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 September 2022 |
|
|
At 31 August 2023 |
|
|
Depreciation |
||
At 1 September 2022 |
|
|
Charge for the year |
|
|
At 31 August 2023 |
|
|
Carrying amount |
||
At 31 August 2023 |
|
|
At 31 August 2022 |
|
|
Debtors |
Current |
2023 |
2022 |
Trade debtors |
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
|||
Bank loans and overdrafts |
|
|
|
trade creditors |
|
|
|
Directors current account |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
- |
|
|
|
Share capital |
Allotted, called up and fully paid shares
Kiara Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
__________________________________________________________________________
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
2 |
|
2 |
Off-balance sheet arrangements |
Remuneration Trust
Under a deed, the Company established a remuneration trust, During the year, the Company gifted £95,000 (last year £90,000) to the trust. No taxation liability arose due to such transations.