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Registration number: 06282161

Kanak Lata Properties Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Kanak Lata Properties Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Kanak Lata Properties Limited

Company Information

Directors

Mrs Taritlata Dasgupta

Mr Terry Robert Forrest

Registered office

1 Westholme Gardens
Ruislip
Middlesex
HA4 8QJ

Accountants

Jani Taylor Associates Limited
Chartered Accountants, Advocates and Business Advisers
7 Marsh Close
Mill Hill
London
NW7 4NY

 

Kanak Lata Properties Limited

(Registration number: 06282161)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

50,554

50,804

Current assets

 

Cash at bank and in hand

 

9,407

4,815

Creditors: Amounts falling due within one year

(39,552)

(39,270)

Net current liabilities

 

(30,145)

(34,455)

Total assets less current liabilities

 

20,409

16,349

Accruals and deferred income

 

(1,152)

(1,152)

Net assets

 

19,257

15,197

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

19,157

15,097

Shareholders' funds

 

19,257

15,197

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

 

Kanak Lata Properties Limited

(Registration number: 06282161)
Abridged Balance Sheet as at 30 June 2024

.........................................
Mrs Taritlata Dasgupta
Director

.........................................
Mr Terry Robert Forrest
Director

 

Kanak Lata Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Westholme Gardens
Ruislip
Middlesex
HA4 8QJ
United Kingdom

These financial statements were authorised for issue by the Board on 1 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Kanak Lata Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

On straight line basis over 50 years on the apportioned cost of building only.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Kanak Lata Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

53,479

53,479

At 30 June 2024

53,479

53,479

Depreciation

At 1 July 2023

2,675

2,675

Charge for the year

250

250

At 30 June 2024

2,925

2,925

Carrying amount

At 30 June 2024

50,554

50,554

At 30 June 2023

50,804

50,804

Included within the net book value of land and buildings above is £50,554 (2023 - £50,804) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares £1 each of £1 each

100

100

100

100

       

6

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

34,946

34,946

At end of period

34,946

34,946

 

Kanak Lata Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

2023

Key management
£

Total
£

At start of period

50,946

50,946

Repaid

(16,000)

(16,000)

At end of period

34,946

34,946