Registered number
10506512
KESHAVA RESIDENTIAL LTD
Filleted Accounts
31 December 2023
KESHAVA RESIDENTIAL LTD
Registered number: 10506512
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 625,000 625,000
Current assets
Debtors 4 89,840 97,319
Cash at bank and in hand 3,153 4,613
92,993 101,932
Creditors: amounts falling due within one year 5 (33,755) (21,887)
Net current assets 59,238 80,045
Total assets less current liabilities 684,238 705,045
Creditors: amounts falling due after more than one year 6 (507,000) (507,000)
Provisions for liabilities (40,917) (40,917)
Net assets 136,321 157,128
Capital and reserves
Called up share capital 20 20
Revaluation reserve 7 174,437 174,437
Profit and loss account (38,136) (17,329)
Shareholders' funds 136,321 157,128
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Khullar
Director
Approved by the board on 10 September 2024
KESHAVA RESIDENTIAL LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 105, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% on reducing balance
Fixtures, fittings, tools and equipment 20% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 January 2023 625,000
At 31 December 2023 625,000
4 Debtors 2023 2022
£ £
Trade debtors (1,150) (1,285)
Other debtors 90,990 98,604
89,840 97,319
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,388 1,887
Other creditors 23,367 20,000
33,755 21,887
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 507,000 507,000
7 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 174,437 174,437
At 31 December 2023 174,437 174,437
8 Related party transactions
At the Balance sheet date, the Company was owed £ 73,269 ( 2022 - £ 83,741), by Keshava Residential London LLP, £ 14,842 (2022- £ 14,842) by Kingsmen Commercial Ltd, £ 2,858 by Kins Oak Asset Portfolio Ltd., and owed £ 2,545 (2022-£786) to Kana ventures Ltd., £ 14,592 (2022 - £ 12092) to Kingsmen Residential Ltd. and £ 18 ( 2022 - £ 18) to KOC Harrow Ltd.
9 Controlling party
The controlling party is, Kings Oak Holdings Ltd, by virtue of their shareholding.
10 Other information
KESHAVA RESIDENTIAL LTD is a private company limited by shares and incorporated in England. Its registered office is:
52 High Street
Harrow
HA1 3LL
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