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REGISTERED NUMBER: 09694869 (England and Wales)




















Financial Statements

for the Year Ended 31 July 2023

for

29K ASSET MANAGEMENT (UK) LTD

29K ASSET MANAGEMENT (UK) LTD (REGISTERED NUMBER: 09694869)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


29K ASSET MANAGEMENT (UK) LTD

Company Information
for the Year Ended 31 July 2023







DIRECTOR: P Prabhu





REGISTERED OFFICE: 143 Station Road
Hampton
Middlesex
TW12 2AL





REGISTERED NUMBER: 09694869 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

29K ASSET MANAGEMENT (UK) LTD (REGISTERED NUMBER: 09694869)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
CURRENT ASSETS
Debtors 6 9,240 15,660
Cash at bank 151,204 122,162
160,444 137,822
CREDITORS
Amounts falling due within one year 7 (34,141 ) (33,474 )
NET CURRENT ASSETS 126,303 104,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

126,303

104,348

CREDITORS
Amounts falling due after more than one
year

8

(5,311

)

(8,128

)
NET ASSETS 120,992 96,220

CAPITAL AND RESERVES
Called up share capital 9 50 50
Retained earnings 120,942 96,170
SHAREHOLDERS' FUNDS 120,992 96,220

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 11 April 2024 and were signed by:





P Prabhu - Director


29K ASSET MANAGEMENT (UK) LTD (REGISTERED NUMBER: 09694869)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

29k Asset Management (UK) Ltd 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

29K ASSET MANAGEMENT (UK) LTD (REGISTERED NUMBER: 09694869)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022
and 31 July 2023 23,697
AMORTISATION
At 1 August 2022
and 31 July 2023 23,697
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2022
and 31 July 2023 1,026
DEPRECIATION
At 1 August 2022
and 31 July 2023 1,026
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 9,240 15,660

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 2,811 2,741
Trade creditors 7,110 -
Taxation and social security 5,811 11,999
Other creditors 18,409 18,734
34,141 33,474

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 5,311 8,128

29K ASSET MANAGEMENT (UK) LTD (REGISTERED NUMBER: 09694869)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
50 Ordinary £1 50 50

10. RELATED PARTY DISCLOSURES

Platinum Estate Investment Group Ltd

A company in which Oksana Golubtsova is a director.


Invoices for consultancy fees to the value of £24,500 were issued by Platinum Estate Investment Group Ltd to 29k Asset Management (UK) Ltd during the year.

31.7.23 31.7.22
£    £   
Amount due to related party at the balance sheet date 7,110 -