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Company Registration No. 13511493 (England and Wales)
Kara Gas Ltd Filleted accounts for the year ended 31 July 2023
Kara Gas Ltd Filleted accounts Contents
Page
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Kara Gas Ltd Company Information for the year ended 31 July 2023
Director
Irfan Kara
Company Number
13511493 (England and Wales)
Registered Office
7 Rowfant Road London SW17 7AP
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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Kara Gas Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,927 
29,909 
Current assets
Debtors
4,826 
9,453 
Cash at bank and in hand
13,061 
2,575 
17,887 
12,028 
Creditors: amounts falling due within one year
(940)
(41,936)
Net current assets/(liabilities)
16,947 
(29,908)
Total assets less current liabilities
40,874 
1 
Creditors: amounts falling due after more than one year
(40,835)
- 
Net assets
39 
1 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
38 
- 
Shareholders' funds
39 
1 
For the year ending 31 July 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 April 2024 and were signed on its behalf by
Irfan Kara Director Company Registration No. 13511493
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Kara Gas Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Kara Gas Ltd is a private company, limited by shares, registered in England and Wales, registration number 13511493. The registered office is 7 Rowfant Road, London, SW17 7AP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Kara Gas Ltd Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 August 2022
29,909 
At 31 July 2023
29,909 
Depreciation
Charge for the year
5,982 
At 31 July 2023
5,982 
Net book value
At 31 July 2023
23,927 
At 31 July 2022
29,909 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,826 
9,453 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
- 
40,996 
Accruals
940 
940 
940 
41,936 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
40,835 
- 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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