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Registration number: 10950949

KA Universal Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

KA Universal Limited

Contents

Company Information

1

Directors' Report

2

Statement of Directors' Responsibilities

3

Accountants' Report

4

Profit and Loss Account

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

iXBRL Detailed Profit and Loss Account

11

 

KA Universal Limited

Company Information

Directors

Mr Prakash Ramesh Padukone

Ms Deepika Prakash Padukone

Miss Meesha Shah

Registered office

Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

Accountants

KNAV Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

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:

Mr Prakash Ramesh Padukone

Ms Deepika Prakash Padukone

Miss Meesha Shah

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 Board on 20 August 2024 and signed on its behalf by:

...........................................................
Ms Deepika Prakash Padukone
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.

............................................................................

KNAV Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE



13 August 2024

 

KA Universal Limited

Profit and Loss Account for the Year Ended 31 March 2024

2024
£

2023
£

Turnover

1,294,011

950,751

Cost of sales

(1,173,768)

(841,125)

Gross profit

120,243

109,626

Administrative expenses

(110,941)

(102,084)

Operating profit

9,302

7,542

Profit before tax

9,302

7,542

Taxation

(1,767)

(1,433)

Profit for the financial year

7,535

6,109

 

KA Universal Limited

(Registration number: 10950949)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

493,551

385,016

Cash at bank and in hand

 

818,229

540,414

 

1,311,780

925,430

Creditors: Amounts falling due within one year

5

(1,217,259)

(838,445)

Net assets

 

94,521

86,985

Capital and reserves

 

Called up share capital

6

749

749

Share premium reserve

99,049

99,049

Retained earnings

(5,277)

(12,813)

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:

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 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 Board on 20 August 2024 and signed on its behalf by:
 

.........................................
Ms Deepika Prakash Padukone
Director

   
     
 

KA Universal Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 April 2022

749

99,049

(18,922)

80,876

Profit for the year

-

-

6,109

6,109

At 31 March 2023

749

99,049

(12,813)

86,985

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 April 2023

749

99,049

(12,812)

86,986

Profit for the year

-

-

7,535

7,535

At 31 March 2024

749

99,049

(5,277)

94,521

 

KA Universal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
United Kingdom

These financial statements were authorised for issue by the Board on 20 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 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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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.

3

Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 3 (2023: 3).

4

Debtors

Note

2024
£

2023
£

Amounts owed by parent undertaking

7

-

382,126

Prepayments

 

-

1,800

Other debtors

 

493,551

1,090

 

493,551

385,016

 

KA Universal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,056,131

48,795

Accruals and deferred income

159,361

788,217

Corporation tax payable

1,767

1,433

1,217,259

838,445

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

749

749

749

749

       


 

7

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
£

Remuneration

2,400

1,500

8

Parent and ultimate parent undertaking

The company's immediate parent is KA Enterprises LLP, incorporated in India.

 The ultimate controlling party is Deepika Padukone.

 

KA Universal Limited

iXBRL Detailed Profit and Loss Account for the Year Ended 31 March 2024

2024
£

2023
£

Turnover/revenue

1,294,011

950,751

Cost of sales

Opening stock/inventories

-

-

Purchase of raw materials and consumables

(1,173,768)

(841,125)

Closing stock/inventories

-

-

Gross profit

120,243

109,626

Distribution costs

Administrative expenses

Audit and accountancy other services

(8,040)

(7,380)

Advertising, promotions and marketing costs

(76,725)

(76,616)

Salaries and fees, directors

(2,400)

(1,500)

Legal and professional costs

(1,560)

(1,320)

Bank charges

(850)

(908)

Printing, postage and stationery

-

(93)

Other foreign exchange loss

(21,366)

(14,267)

Other operating income

Other items

Profit on ordinary activities before taxation

9,302

7,542

Tax on profit or loss on ordinary activities

(1,767)

(1,433)

Profit for the financial year

7,535

6,109