Company Registration No. 12070510 (England and Wales)
Khstyles Limited
Unaudited accounts
for the year ended 30 June 2023
Khstyles Limited
Unaudited accounts
Contents
Khstyles Limited
Company Information
for the year ended 30 June 2023
Company Number
12070510 (England and Wales)
Registered Office
Unit 19 Slough Business Park
94 Farnham Road
Slough
Berkshire
SL1 3FQ
England
Khstyles Limited
Statement of financial position
as at 30 June 2023
Investment property
1,145,112
717,675
Cash at bank and in hand
3,469
65
Creditors: amounts falling due within one year
(371,457)
(208,490)
Net current liabilities
(367,988)
(208,425)
Total assets less current liabilities
777,124
509,250
Creditors: amounts falling due after more than one year
(703,867)
(447,460)
Provisions for liabilities
Deferred tax
(12,322)
(12,322)
Called up share capital
1
1
Profit and loss account
60,934
49,467
Shareholders' funds
60,935
49,468
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 September 2024 and were signed on its behalf by
M Khalil
Director
Company Registration No. 12070510
Khstyles Limited
Notes to the Accounts
for the year ended 30 June 2023
Khstyles Limited is a private company, limited by shares, registered in England and Wales, registration number 12070510. The registered office is Unit 19 Slough Business Park, 94 Farnham Road, Slough, Berkshire, SL1 3FQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment properties comprise properties and interest in land and building held either to earn rental income or for capital appreciation, or both.
Investment property is initially measured at cost, including related transaction cost. Borrowing cost associated with direct expenditure on investment property under development is capitalised.
After initial recognition at costs, investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Khstyles Limited
Notes to the Accounts
for the year ended 30 June 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 July 2022
717,675
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investment property was internally valued by the director.
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,962
-
Loans from directors
367,323
207,490
6
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
447,460
447,460
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Transactions with related parties
Included in creditors is the sum of £367,323 (2022: £207,490) owed by the company to Mr M Khalil a sole director and 100% shareholder.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).