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REGISTERED NUMBER: NI675654 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Karami Limited

Karami Limited (Registered number: NI675654)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Karami Limited (Registered number: NI675654)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,097 36,258

CURRENT ASSETS
Debtors 5 102,820 54,497
Cash at bank 214,758 177,321
317,578 231,818
CREDITORS
Amounts falling due within one year 6 118,231 125,863
NET CURRENT ASSETS 199,347 105,955
TOTAL ASSETS LESS CURRENT LIABILITIES 227,444 142,213

PROVISIONS FOR LIABILITIES 7,024 8,412
NET ASSETS 220,420 133,801

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 220,320 133,701
SHAREHOLDERS' FUNDS 220,420 133,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 July 2024 and were signed by:





Mr M A Dillon - Director


Karami Limited (Registered number: NI675654)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Karami Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI675654

Registered office: Forsyth House
Cromac Square
Belfast
BT2 8LA

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Karami Limited (Registered number: NI675654)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 - 45,200 3,019 48,219
Additions 709 - 749 1,458
Disposals - - (869 ) (869 )
At 31 January 2024 709 45,200 2,899 48,808
DEPRECIATION
At 1 February 2023 - 11,300 661 11,961
Charge for year 106 8,475 365 8,946
Eliminated on disposal - - (196 ) (196 )
At 31 January 2024 106 19,775 830 20,711
NET BOOK VALUE
At 31 January 2024 603 25,425 2,069 28,097
At 31 January 2023 - 33,900 2,358 36,258

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 50,268 53,639
Other debtors 52,552 858
102,820 54,497

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 56,639 43,229
Other creditors 61,592 82,634
118,231 125,863

7. OTHER FINANCIAL COMMITMENTS

Rental commitments in the profit and loss amount to £5,300 (2023 £0). The rental commitments end in April 2024.