Registered number
13884155
KHANEJA PROPERTIES LIMITED
Filleted Accounts
28 February 2023
KHANEJA PROPERTIES LIMITED
Registered number: 13884155
Balance Sheet
as at 28 February 2023
Notes 2023
£
Fixed assets
Tangible assets 3 395,352
Current assets
Debtors 4 1,250
Cash at bank and in hand 4,851
6,101
Creditors: amounts falling due within one year 5 (203,209)
Net current liabilities (197,108)
Total assets less current liabilities 198,244
Creditors: amounts falling due after more than one year 6 (195,480)
Net assets 2,764
Capital and reserves
Called up share capital 1
Profit and loss account 2,763
Shareholder's funds 2,764
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.
Mr Gurmeet Singh KHANEJA
Director
Approved by the board on 28 November 2023
KHANEJA PROPERTIES LIMITED
Notes to the Accounts
for the period from 1 February 2022 to 28 February 2023
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes (if applicable). Turnover represents the value of rent receivable.
Investment properties
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. 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. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Investment properties
Land and buildings
£
Cost
Additions 395,352
At 28 February 2023 395,352
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 395,352
Freehold land and buildings: 2023
£
Historical cost 395,352
395,352
The investment properties were measured for fair value by the directors, and in their opinion the
fair value of the investment property is fairly stated.
4 Debtors 2023
£
Trade debtors 1,250
5 Creditors: amounts falling due within one year 2023
£
Taxation and social security costs 648
Directors loan account 75,800
Other creditors 126,761
203,209
6 Creditors: amounts falling due after one year 2023
£
Bank loans 195,480
7 Loans 2023
£
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 195,480
Secured bank loans 195,480
The bank loan is secured by first charge over the freehold land and building held by the company.
8 Related party transactions
Rent receivable includes £7,050 from T Food Ltd and ohter creditors include £116,980 un secured loan from T Food Ltd. T Food Ltd is incorporated in England and Wales with common conrtol.
9 Controlling party
The company is under the control of its director Mr Gurmeet Singh KHANEJA.
10 Other information
KHANEJA PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
76b Albion Road
Hounslow
TW3 3RT
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