Registered number
05689976
KHALIL AND KANE LIMITED
Filleted Abridged Accounts
31 January 2023
KHALIL AND KANE LIMITED
Registered number: 05689976
Abridged Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,075 1,612
Current assets
Debtors 1,767,191 877,939
Investments held as current assets 4 216,000 216,000
Cash at bank and in hand 1,047,283 190,675
3,030,474 1,284,614
Creditors: amounts falling due within one year (1,219,011) (1,259,863)
Net current assets 1,811,463 24,751
Total assets less current liabilities 1,812,538 26,363
Creditors: amounts falling due after more than one year (2,373,207) (606,968)
Net liabilities (560,669) (580,605)
Capital and reserves
Called up share capital 100 100
Profit and loss account (560,769) (580,705)
Shareholders' funds (560,669) (580,605)
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 members have 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Matthew Gamal Khalil
Director
Approved by the board on 16 April 2024
KHALIL AND KANE LIMITED
Notes to the Abridged Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The abridged 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25%SL
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 7
3 Tangible fixed assets
Total
£
Cost
At 1 February 2022 33,197
At 31 January 2023 33,197
Depreciation
At 1 February 2022 31,585
Charge for the year 537
At 31 January 2023 32,122
Net book value
At 31 January 2023 1,075
At 31 January 2022 1,612
4 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 216,000 216,000
5 Other information
KHALIL AND KANE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
60 Great Marlborough Street
London
W1F 7BG
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