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Registration number: 08495356

Kila Property Maintenance Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Kila Property Maintenance Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Kila Property Maintenance Ltd

Company Information

Directors

Mr Chetan Kila

Mrs Dipika Kila

Registered office

33 Oulton Way
Watford
WD19 5EJ

Accountants

SK Accountants
53 Hurstdene Avenue
Staines Upon Thames
Surrey
TW18 1JG

 

Kila Property Maintenance Ltd

(Registration number: 08495356)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

10,986

14,011

Current assets

 

Debtors

5

-

14,257

Cash at bank and in hand

 

63

9,048

 

63

23,305

Creditors: Amounts falling due within one year

6

(6,107)

(8,183)

Net current (liabilities)/assets

 

(6,044)

15,122

Total assets less current liabilities

 

4,942

29,133

Creditors: Amounts falling due after more than one year

6

(33,011)

(36,701)

Net liabilities

 

(28,069)

(7,568)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(28,169)

(7,668)

Shareholders' deficit

 

(28,069)

(7,568)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2024 and signed on its behalf by:
 

.........................................
Mr Chetan Kila
Director

 

Kila Property Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
33 Oulton Way
Watford
WD19 5EJ
United Kingdom

These financial statements were authorised for issue by the Board on 5 March 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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:

 

Kila Property Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Asset class

Depreciation method and rate

Commercial motor vehicles

Reducing balance - 20%

Plant and machinery

Reducing balance - 20%

Office equipment

Straight line - 33.3%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Kila Property Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

429

19,758

2,472

22,659

At 31 March 2023

429

19,758

2,472

22,659

Depreciation

At 1 April 2022

86

7,578

984

8,648

Charge for the year

143

2,436

446

3,025

At 31 March 2023

229

10,014

1,430

11,673

Carrying amount

At 31 March 2023

200

9,744

1,042

10,986

At 31 March 2022

343

12,180

1,488

14,011

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

5,563

Other debtors

-

8,694

 

-

14,257

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

584

223

Other creditors

5,523

7,960

6,107

8,183

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

33,011

36,701

 

Kila Property Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

33,011

36,701

9

Related party transactions

 

Kila Property Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

15,562

15,935