Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31No description of principal activity2022-08-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13517492 2022-08-01 2023-03-31 13517492 2021-07-19 2022-07-31 13517492 2023-03-31 13517492 2022-07-31 13517492 c:Director1 2022-08-01 2023-03-31 13517492 d:FreeholdInvestmentProperty 2023-03-31 13517492 d:FreeholdInvestmentProperty 2022-07-31 13517492 d:FreeholdInvestmentProperty 3 2022-08-01 2023-03-31 13517492 d:CurrentFinancialInstruments 2023-03-31 13517492 d:CurrentFinancialInstruments 2022-07-31 13517492 d:Non-currentFinancialInstruments 2023-03-31 13517492 d:Non-currentFinancialInstruments 2022-07-31 13517492 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13517492 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 13517492 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13517492 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 13517492 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 13517492 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 13517492 d:ShareCapital 2023-03-31 13517492 d:ShareCapital 2022-07-31 13517492 d:RetainedEarningsAccumulatedLosses 2023-03-31 13517492 d:RetainedEarningsAccumulatedLosses 2022-07-31 13517492 c:OrdinaryShareClass1 2022-08-01 2023-03-31 13517492 c:OrdinaryShareClass1 2023-03-31 13517492 c:OrdinaryShareClass1 2022-07-31 13517492 c:FRS102 2022-08-01 2023-03-31 13517492 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-03-31 13517492 c:FullAccounts 2022-08-01 2023-03-31 13517492 c:PrivateLimitedCompanyLtd 2022-08-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13517492









KARARO VENTURES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
KARARO VENTURES LTD
REGISTERED NUMBER: 13517492

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

31 March
31 July
2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
3,323,528
3,411,245

  
3,323,528
3,411,245

Current assets
  

Debtors: amounts falling due within one year
 5 
151,775
49,106

Cash at bank and in hand
 6 
22,133
2,451

  
173,908
51,557

Creditors: amounts falling due within one year
 7 
(1,399,778)
(1,324,388)

Net current liabilities
  
 
 
(1,225,870)
 
 
(1,272,831)

Total assets less current liabilities
  
2,097,658
2,138,414

Creditors: amounts falling due after more than one year
 8 
(2,175,000)
(2,175,000)

  

Net liabilities
  
(77,342)
(36,586)


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
(77,343)
(36,587)

  
(77,342)
(36,586)


Page 1

 
KARARO VENTURES LTD
REGISTERED NUMBER: 13517492
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 March 2024.




M Talwar
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
KARARO VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Kararo Ventures Limited is a private company limited by shares and incorporated in England & Wales (registered number 13517492). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The director has obtained assurances from the shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
KARARO VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
KARARO VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at 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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the 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.


3.


Employees




The average monthly number of employees, including the director, during the period was as follows:


     Period ended
       31 March
     Period ended
         31 July
        2023
        2022
            No.
            No.







Director
1
1

Page 5

 
KARARO VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Investment property





Freehold investment property

£



Valuation


At 1 August 2022
3,411,245


Transfers between classes
(87,717)



At 31 March 2023
3,323,528

The 2023 valuations were made by the director, on an open market value for existing use basis.





5.


Debtors

31 March
31 July
2023
2022
£
£


Other debtors
147,712
49,106

Prepayments and accrued income
4,063
-

151,775
49,106



6.


Cash and cash equivalents

31 March
31 July
2023
2022
£
£

Cash at bank and in hand
22,133
2,451

22,133
2,451


Page 6

 
KARARO VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

31 March
31 July
2023
2022
£
£

Other creditors
1,389,387
1,323,388

Accruals and deferred income
10,391
1,000

1,399,778
1,324,388



8.


Creditors: Amounts falling due after more than one year

31 March
31 July
2023
2022
£
£

Bank loans
2,175,000
2,175,000

2,175,000
2,175,000



9.


Loans


Analysis of the maturity of loans is given below:


31 March
31 July
2023
2022
£
£



Amounts falling due 2-5 years

Bank loans
2,175,000
2,175,000


2,175,000
2,175,000


2,175,000
2,175,000


Page 7

 
KARARO VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

10.


Share capital

31 March
31 July
2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1


 
Page 8