Registration number:
KA Universal Limited
for the Year Ended 31 March 2024
KA Universal Limited
Contents
Company Information |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
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iXBRL Detailed Profit and Loss Account |
KA Universal Limited
Company Information
Directors |
Mr Prakash Ramesh Padukone Ms Deepika Prakash Padukone Miss Meesha Shah |
Registered office |
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Accountants |
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KA Universal Limited
Directors' Report for the Year Ended 31 March 2024
The directors present their report and the financial statements for the year ended 31 March 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that of support activities to performing arts
Small companies provision statement
This report has 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.
This report was approved by the
...........................................................
Director
KA Universal Limited
Statement of Directors' Responsibilities
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
KA Universal Limited
for the Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KA Universal Limited for the year ended 31 March 2024 as set out on pages 5 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of KA Universal Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of KA Universal Limited and state those matters that we have agreed to state to the Board of Directors of KA Universal Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KA Universal Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that KA Universal Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of KA Universal Limited. You consider that KA Universal Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of KA Universal Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
............................................................................
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
KA Universal Limited
Profit and Loss Account for the Year Ended 31 March 2024
2024 |
2023 |
|
Turnover |
|
|
Cost of sales |
( |
( |
Gross profit |
|
|
Administrative expenses |
( |
( |
Operating profit |
|
|
Profit before tax |
|
|
Taxation |
( |
( |
Profit for the financial year |
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KA Universal Limited
(Registration number: 10950949)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Current assets |
|||
Debtors |
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|
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Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
|
|
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Capital and reserves |
|||
Called up share capital |
749 |
749 |
|
Share premium reserve |
99,049 |
99,049 |
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Retained earnings |
(5,277) |
(12,813) |
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Shareholders' funds |
94,521 |
86,985 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements were approved and authorised for issue by the
......................................... |
KA Universal Limited
Statement of Changes in Equity for the Year Ended 31 March 2024
Share capital |
Share premium |
Retained earnings |
Total |
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At 1 April 2022 |
|
|
( |
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Profit for the year |
- |
- |
|
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At 31 March 2023 |
749 |
99,049 |
(12,813) |
86,985 |
Share capital |
Share premium |
Retained earnings |
Total |
|
At 1 April 2023 |
|
|
( |
|
Profit for the year |
- |
- |
|
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At 31 March 2024 |
|
|
( |
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KA Universal Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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 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 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.
The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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.
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.
KA Universal Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
2 |
Accounting policies (continued) |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
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 debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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.
Staff numbers |
The average monthly number of persons employed by the company (including directors) during the year, was
Debtors |
Note |
2024 |
2023 |
|
Amounts owed by parent undertaking |
- |
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Prepayments |
- |
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Other debtors |
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KA Universal Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
||
Trade creditors |
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Accruals and deferred income |
|
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Corporation tax payable |
1,767 |
1,433 |
|
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
749 |
|
749 |
Related party transactions |
The company has taken advantage of the exemptions available in FRS 102 1A from disclosing related party transactions with other companies that are wholly owned within the group.
Directors' remuneration
The directors' remuneration for the year was as follows:
2024 |
2023 |
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Remuneration |
|
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is
KA Universal Limited
iXBRL Detailed Profit and Loss Account for the Year Ended 31 March 2024
2024 |
2023 |
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Turnover/revenue |
|
|
Cost of sales |
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Opening stock/inventories |
- |
- |
Purchase of raw materials and consumables |
( |
( |
Closing stock/inventories |
- |
- |
Gross profit |
120,243 |
109,626 |
Distribution costs |
||
Administrative expenses |
||
Audit and accountancy other services |
( |
( |
Advertising, promotions and marketing costs |
( |
( |
Salaries and fees, directors |
( |
( |
Legal and professional costs |
( |
( |
Bank charges |
( |
( |
Printing, postage and stationery |
- |
( |
Other foreign exchange loss |
( |
( |
Other operating income |
||
Other items |
||
Profit on ordinary activities before taxation |
|
|
Tax on profit or loss on ordinary activities |
( |
( |
Profit for the financial year |
|
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