Kiara Ltd 04869844 false 2021-09-01 2022-08-31 2022-08-31 The principal activity of the company is Medical Doctor Digita Accounts Production Advanced 6.30.9574.0 true true 04869844 2021-09-01 2022-08-31 04869844 2022-08-31 04869844 bus:OrdinaryShareClass1 2022-08-31 04869844 core:RetainedEarningsAccumulatedLosses 2022-08-31 04869844 core:ShareCapital 2022-08-31 04869844 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 04869844 core:FurnitureFittingsToolsEquipment 2022-08-31 04869844 bus:SmallEntities 2021-09-01 2022-08-31 04869844 bus:AuditExemptWithAccountantsReport 2021-09-01 2022-08-31 04869844 bus:FullAccounts 2021-09-01 2022-08-31 04869844 bus:SmallCompaniesRegimeForAccounts 2021-09-01 2022-08-31 04869844 bus:RegisteredOffice 2021-09-01 2022-08-31 04869844 bus:CompanySecretary1 2021-09-01 2022-08-31 04869844 bus:Director1 2021-09-01 2022-08-31 04869844 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 04869844 bus:PrivateLimitedCompanyLtd 2021-09-01 2022-08-31 04869844 bus:Agent1 2021-09-01 2022-08-31 04869844 core:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 04869844 core:ShareCapital 2021-09-01 2022-08-31 04869844 core:FurnitureFittingsToolsEquipment 2021-09-01 2022-08-31 04869844 core:PlantMachinery 2021-09-01 2022-08-31 04869844 countries:AllCountries 2021-09-01 2022-08-31 04869844 2021-08-31 04869844 core:RetainedEarningsAccumulatedLosses 2021-08-31 04869844 core:ShareCapital 2021-08-31 04869844 core:FurnitureFittingsToolsEquipment 2021-08-31 04869844 2020-09-01 2021-08-31 04869844 2021-08-31 04869844 bus:OrdinaryShareClass1 2021-08-31 04869844 core:RetainedEarningsAccumulatedLosses 2021-08-31 04869844 core:ShareCapital 2021-08-31 04869844 core:CurrentFinancialInstruments core:WithinOneYear 2021-08-31 04869844 core:FurnitureFittingsToolsEquipment 2021-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04869844

Kiara Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2022

 

Kiara Ltd

Contents
__________________________________________________________________________

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

Kiara Ltd

Company Information
__________________________________________________________________________

Director

Dr Yougantheran Pillay

Company secretary

Mrs Colleen Pillay

Registered office

97 Feathersone Grove
Gosforth
Newcastle-upon-Tyne
NE3 5RF


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Kiara Ltd

Director's Report for the Year Ended 31 August 2022
__________________________________________________________________________

The director presents his report and the financial statements for the year ended 31 August 2022.

Director of the company

The director who held office during the year was as follows:

Dr Yougantheran Pillay

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 22 October 2023 and signed on its behalf by:



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 2022 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.






Brooks Green Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

27 October 2023

 

Kiara Ltd

Profit and Loss Account for the Year Ended 31 August 2022
__________________________________________________________________________

Note

2022
 £

2021
 £

turnover

109,076

125,985

Cost of sales

 

-

(1,017)

Gross profit

 

109,076

124,968

Administrative expenses

 

(102,174)

(119,281)

Operating profit

6,902

5,687

Interest payable and similar charges

(452)

-

Profit before tax

 

6,450

5,687

Taxation

(1,431)

(1,081)

Profit for the financial year

 

5,019

4,606

Retained earnings brought forward

 

13,859

9,253

Dividends paid

 

(20,000)

-

Retained earnings carried forward

 

(1,122)

13,859

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 2022
__________________________________________________________________________

2022
£

2021
£

Profit for the year

5,019

4,606

Total comprehensive income for the year

5,019

4,606

 

Kiara Ltd

(Registration number: 04869844)
Balance Sheet as at 31 August 2022
__________________________________________________________________________

Note

2022
£

2021
£

   

     

fixed assets

   

 

tangible assets

4

 

3,241

 

4,321

Current assets

   

 

Debtors

5

7,918

 

13,047

 

Creditors: Amounts falling due within one year

6

(12,279)

 

(3,507)

 

Net current (liabilities)/assets

   

(4,361)

 

9,540

Net (liabilities)/assets

   

(1,120)

 

13,861

capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

(1,122)

 

13,859

 

Total equity

   

(1,120)

 

13,861

For the financial year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 22 October 2023
 

.........................................
Dr Yougantheran Pillay
Director

 

Kiara Ltd

Statement of Changes in Equity for the Year Ended 31 August 2022
__________________________________________________________________________

Share capital
£

Retained earnings
£

Total
£

At 1 September 2021

2

13,859

13,861

Profit for the year

-

5,019

5,019

Dividends

-

(20,000)

(20,000)

At 31 August 2022

2

(1,122)

(1,120)

 

Kiara Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022
__________________________________________________________________________

1

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 2022
__________________________________________________________________________

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

3

Profit before tax

Arrived at after charging/(crediting)

 

Kiara Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022
__________________________________________________________________________

2022
£

2021
£

Depreciation expense

1,080

-

 

Kiara Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022
__________________________________________________________________________

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2021

31,303

31,303

At 31 August 2022

31,303

31,303

Depreciation

At 1 September 2021

26,982

26,982

Charge for the year

1,080

1,080

At 31 August 2022

28,062

28,062

Carrying amount

At 31 August 2022

3,241

3,241

At 31 August 2021

4,321

4,321

5

Debtors

Current

2022
£

2021
£

Trade debtors

7,918

13,047

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Bank loans and overdrafts

7,258

2,198

trade creditors

 

2,400

-

Directors current account

97

-

Taxation and social security

 

2,524

1,309

 

12,279

3,507

7

Share capital

Allotted, called up and fully paid shares

 

Kiara Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022
__________________________________________________________________________

 

2022

2021

 

No.

£

No.

£

Ordinary Sharea of £1 each

2

2

2

2

         

8

Off-balance sheet arrangements

Remuneration Trust
Under a deed, the Company established a remuneration trust, During the year, the Company gifted £90,000 (last year £90,000) to the trust. No taxation liability arose due to such transations.