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REGISTERED NUMBER: 07737754 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

KARACA LIMITED

KARACA LIMITED (REGISTERED NUMBER: 07737754)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KARACA LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr Yilmaz Kara





REGISTERED OFFICE: 213 Lewisham High Street
Lewisham
London
SE13 6LY





REGISTERED NUMBER: 07737754 (England and Wales)





ACCOUNTANTS: ADPL LLP
Chartered Certified Accountants
& Business Advisers
Ernest House
293 Green Lanes
Palmers Green
London
N13 4XS

KARACA LIMITED (REGISTERED NUMBER: 07737754)

Balance Sheet
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127,736 154,534
Investment property 5 270,738 270,738
398,474 425,272

CURRENT ASSETS
Stocks 346,937 465,750
Debtors 6 863,510 796,702
Cash at bank and in hand 90,462 115,667
1,300,909 1,378,119
CREDITORS
Amounts falling due within one year 7 377,997 349,141
NET CURRENT ASSETS 922,912 1,028,978
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,321,386

1,454,250

CREDITORS
Amounts falling due after more than one
year

8

(62,377

)

(212,313

)

PROVISIONS FOR LIABILITIES 9 (24,270 ) (20,417 )
NET ASSETS 1,234,739 1,221,520

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 129,600 129,600
Retained earnings 1,105,039 1,091,820
SHAREHOLDERS' FUNDS 1,234,739 1,221,520

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

KARACA LIMITED (REGISTERED NUMBER: 07737754)

Balance Sheet - continued
31 MARCH 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 director and authorised for issue on 6 February 2024 and were signed by:





Mr Yilmaz Kara - Director


KARACA LIMITED (REGISTERED NUMBER: 07737754)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Karaca Limited 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.
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

KARACA LIMITED (REGISTERED NUMBER: 07737754)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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 20 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 93,525 177,510 3,604
Additions - - -
At 31 March 2023 93,525 177,510 3,604
DEPRECIATION
At 1 April 2022 18,705 123,118 2,038
Charge for year 14,964 10,878 313
At 31 March 2023 33,669 133,996 2,351
NET BOOK VALUE
At 31 March 2023 59,856 43,514 1,253
At 31 March 2022 74,820 54,392 1,566

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 38,120 - 312,759
Additions - 5,135 5,135
At 31 March 2023 38,120 5,135 317,894
DEPRECIATION
At 1 April 2022 14,364 - 158,225
Charge for year 4,751 1,027 31,933
At 31 March 2023 19,115 1,027 190,158
NET BOOK VALUE
At 31 March 2023 19,005 4,108 127,736
At 31 March 2022 23,756 - 154,534

KARACA LIMITED (REGISTERED NUMBER: 07737754)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 270,738
NET BOOK VALUE
At 31 March 2023 270,738
At 31 March 2022 270,738

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 60,697 -
Bellona (Lewisham) UK Ltd 284,882 246,283
Kuzey London Ltd 376,211 376,211
Funding circle interest 15,023 25,039
Rent deposit 72,563 72,563
Loan interest 2,854 5,707
Directors' current accounts 34,750 50,862
Tax 16,530 16,530
VAT - 3,507
863,510 796,702

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 128,532 128,532
Hire purchase contracts 2,715 2,715
Trade creditors 105,784 134,977
Tax 76,904 49,646
Social security and other taxes 10,960 9,064
Pension 349 4,094
VAT 6,036 -
Capital on tap 46,717 20,113
377,997 349,141

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 32,133 128,532
Bank loans - 2-5 years - 32,133
Other loans - 1-2 years 28,174 47,123
Hire purchase contracts 2,070 4,525
62,377 212,313

KARACA LIMITED (REGISTERED NUMBER: 07737754)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 24,270 20,417

Deferred
tax
£   
Balance at 1 April 2022 20,417
Charge to Income Statement during year 3,853
Balance at 31 March 2023 24,270

10. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 129,600

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr Yilmaz Kara
Balance outstanding at start of year 50,862 -
Amounts advanced - 50,862
Amounts repaid (16,113 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,749 50,862