Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-30false2021-12-01falseRental Properties11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11667266 2021-12-01 2022-11-30 11667266 2020-12-01 2021-11-30 11667266 2022-11-30 11667266 2021-11-30 11667266 c:Director1 2021-12-01 2022-11-30 11667266 d:FreeholdInvestmentProperty 2022-11-30 11667266 d:FreeholdInvestmentProperty 2021-11-30 11667266 d:CurrentFinancialInstruments 2022-11-30 11667266 d:CurrentFinancialInstruments 2021-11-30 11667266 d:Non-currentFinancialInstruments 2022-11-30 11667266 d:Non-currentFinancialInstruments 2021-11-30 11667266 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11667266 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 11667266 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 11667266 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 11667266 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 11667266 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-11-30 11667266 d:ShareCapital 2022-11-30 11667266 d:ShareCapital 2021-11-30 11667266 d:RetainedEarningsAccumulatedLosses 2022-11-30 11667266 d:RetainedEarningsAccumulatedLosses 2021-11-30 11667266 c:FRS102 2021-12-01 2022-11-30 11667266 c:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 11667266 c:FullAccounts 2021-12-01 2022-11-30 11667266 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 11667266 2 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Registered number: 11667266









KARTIK INVESTMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2022

 
KARTIK INVESTMENTS LTD
REGISTERED NUMBER: 11667266

BALANCE SHEET
AS AT 30 NOVEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investment property
 4 
8,600,000
8,600,000

  
8,600,000
8,600,000

Current assets
  

Debtors: amounts falling due within one year
 5 
101,884
66,276

Cash at bank and in hand
 6 
6,718
15,131

  
108,602
81,407

Creditors: amounts falling due within one year
 7 
(2,742,441)
(2,660,782)

Net current liabilities
  
 
 
(2,633,839)
 
 
(2,579,375)

Total assets less current liabilities
  
5,966,161
6,020,625

Creditors: amounts falling due after more than one year
 8 
(5,899,600)
(6,020,000)

  

Net assets
  
66,561
625


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
66,560
624

  
66,561
625


Page 1

 
KARTIK INVESTMENTS LTD
REGISTERED NUMBER: 11667266
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2023.




N Handa
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
KARTIK INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1.


General information

Kartik Investments Limited is a private company, limited by shares, domiciled in England and Wales, registration number 11667266. The registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL.  The principal activity of the company is that of property investment

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
KARTIK INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 December 2021
8,600,000



At 30 November 2022
8,600,000

The 2022 valuations were made by the directors , on an open market value for existing use basis.






Page 4

 
KARTIK INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

5.


Debtors

2022
2021
£
£


Other debtors
101,883
66,275

Called up share capital not paid
1
1

101,884
66,276



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
6,718
15,132

6,718
15,132



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
103,152
48,703

Other creditors
2,627,309
2,600,319

Accruals and deferred income
11,980
11,760

2,742,441
2,660,782



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
5,899,600
6,020,000

5,899,600
6,020,000


The bank loans are secured by the properties owned by the company.

Page 5

 
KARTIK INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
103,152
48,703


103,152
48,703


Amounts falling due 2-5 years

Bank loans
5,899,600
6,020,000


5,899,600
6,020,000


6,002,752
6,068,703



10.


Related party transactions

At the year end the following amounts were due from/(to) related parties:


2022
2021
£
£

Key management
-
38,325
Entities under common control
(2,525,425)
2,600,320
(2,525,425)
2,638,645


11.


Controlling party

The ultimate controlling party is N Handa by virtue of his shareholding. 

 
Page 6