KARALI SERVICES LIMITED

Company Registration Number:
10498159 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

KARALI SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

KARALI SERVICES LIMITED

Balance sheet

As at 31 December 2022


Notes

2022

2021


£

£
Fixed assets
Tangible assets: 3 8,784 0
Total fixed assets: 8,784 0
Current assets
Debtors:   83,296 2,772,417
Cash at bank and in hand: 28,260 65,693
Total current assets: 111,556 2,838,110
Creditors: amounts falling due within one year: 4 (716,947) (2,802,203)
Net current assets (liabilities): (605,391) 35,907
Total assets less current liabilities: (596,607) 35,907
Total net assets (liabilities): (596,607) 35,907
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (596,608) 35,906
Shareholders funds: (596,607) 35,907

The notes form part of these financial statements

KARALI SERVICES LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 11 December 2023
and signed on behalf of the board by:

Name: SALIM H M JANMOHAMED
Status: Director

The notes form part of these financial statements

KARALI SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is calculated to write down the cost of all tangible fixed assets by equal annual instalments over their expected useful lives. The rates generally applicable are:Fixtures, fittings and equipment 20% on costMotor vehicles 25% on cost

Other accounting policies

DebtorsShort term debtors are measured at the 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.CreditorsShort term trade creditors are measured at 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.TaxationTaxation 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 and deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.Deferred taxDeferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that* The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and * Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the difference between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using the tax rates that have been enacted or substantively enacted by the reporting date.Financial instrumentsThe company only enters into basic financial instruments 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 non-puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable or payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted are a market rate of interest for a similar debt instrument and subsequently at amortised cost.Pension costs and other post retirement benefitsThe company operates a defined contribution pension scheme. Contributions payable to the company’s scheme are charged to profit and loss in the period to which they relate.

KARALI SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 2021
Average number of employees during the period 16 16

KARALI SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible Assets

Total
Cost £
At 01 January 2022 0
Additions 26,405
Disposals (17,031)
At 31 December 2022 9,374
Depreciation
At 01 January 2022 0
Charge for year 590
At 31 December 2022 590
Net book value
At 31 December 2022 8,784
At 31 December 2021 0

KARALI SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Creditors: amounts falling due within one year note

Trade creditors £1,983 £-Social security and other taxation £20,900 £19,108 Other creditors £2,705 £2,567 Amounts due to group undertakings £691,359 £42,235 Amounts due to related undertakings £- £2,738,293

KARALI SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Related party transactions

The following are related parties in which the director of this company is also director. Balances at 31 December 2022 and 31 December 2021 are detailed below:Amounts owed by related partiesKarali Estates Limited £53,192 £-Karali Group Limited £1 £1Amounts owed to related partiesArden Investments Limited £91,359 £-Karali Properties Limited £600,000 £-Karali Limited £- £263,821Karali Leisure Limited £- £2,474,472 Sticky Sisters Trading Limited £- £38,235 TPMF Limited £- £4,000The amounts due to related parties are unsecured and represent inter-company funding. There is no fixed repayment date and no interest is charged.