Company registration number 14489893 (England and Wales)
KHASPAZE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
KHASPAZE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
KHASPAZE LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
Notes
£
£
Fixed assets
Investment property
3
1,189,576
Current assets
Debtors
4
33,931
Cash at bank and in hand
24,680
58,611
Creditors: amounts falling due within one year
5
(14,822)
Net current assets
43,789
Total assets less current liabilities
1,233,365
Creditors: amounts falling due after more than one year
6
(1,222,900)
Net assets
10,465
Capital and reserves
Called up share capital
100
Profit and loss reserves
10,365
Total equity
10,465
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 August 2024 and are signed on its behalf by:
Mohammad Zulfiqar
Director
Company registration number 14489893 (England and Wales)
KHASPAZE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information
Khaspaze Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 345 Heath Street, Smethwick, Birmingham, B66 2QY.
1.1
Reporting period
The reporting period is from 17 November 2022 to 30 November 2023. This ties in with the date of incorporation of the company.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
KHASPAZE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
3
Investment property
2023
£
Fair value
At 17 November 2022
Additions
1,189,576
At 30 November 2023
1,189,576
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
33,931
5
Creditors: amounts falling due within one year
2023
£
Trade creditors
576
Corporation tax
2,431
Other creditors
11,815
14,822
6
Creditors: amounts falling due after more than one year
2023
£
Amounts owed to group undertakings
1,222,900
7
Ultimate Controlling Party
The ultimate controlling party is BJ Cheese (Holdings) Limited.