Company Registration No. 09460988 (England and Wales)
Khetani Ltd
Unaudited accounts
for the year ended 29 February 2024
Khetani Ltd
Unaudited accounts
Contents
Khetani Ltd
Company Information
for the year ended 29 February 2024
Company Number
09460988 (England and Wales)
Registered Office
242 Mollison Way
Edgware
HA8 5QY
England
Khetani Ltd
Statement of financial position
as at 29 February 2024
Cash at bank and in hand
6,692
-
Creditors: amounts falling due within one year
(60,423)
(22,247)
Net current assets
19,208
16,240
Total assets less current liabilities
22,287
16,743
Creditors: amounts falling due after more than one year
(18,806)
(18,231)
Provisions for liabilities
Net assets/(liabilities)
2,712
(1,583)
Called up share capital
100
100
Profit and loss account
2,612
(1,683)
Shareholders' funds
2,712
(1,583)
For the year ending 29 February 2024 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 13 November 2024 and were signed on its behalf by
H Khetani
Director
Company Registration No. 09460988
Khetani Ltd
Notes to the Accounts
for the year ended 29 February 2024
Khetani Ltd is a private company, limited by shares, registered in England and Wales, registration number 09460988. The registered office is 242 Mollison Way, Edgware, HA8 5QY, 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.
Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.
At each reporting date non-financial assets not carried at fair value, like plant, property and equipment are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount
Khetani Ltd
Notes to the Accounts
for the year ended 29 February 2024
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reportingperiod. Tax currently payable, relating to UK corporation tax is calculated on the basis of the tax rates and laws that have been enacted or substantively enacted as at the reporting date.
Deferred tax is recognised on all timing differences that have originated but not reversed at the reporting date transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in future give rise to a deferred tax liability or asset.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expense in the assessments in periods different from those in which they are recognised in the financial statements.
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 differences. The tax expense is recognised in the same component
or comprehensive income or equity as the transaction or other event that resulted in the tax expense.
Deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it is deemed probable that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% on reducing balance
The accounts have been prepared on a going concern basis. The directors feel sufficient resources are available for it to continue to do so.
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Tangible fixed assets
Total
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Khetani Ltd
Notes to the Accounts
for the year ended 29 February 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
29,047
-
-
29,047
Interest has been charged on loans by the company at the average official rate of interest.
7
Average number of employees
During the year the average number of employees was 2 (2023: 0).