REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024 |
FOR |
KHALIDS ENTERPRISES LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024 |
FOR |
KHALIDS ENTERPRISES LTD |
KHALIDS ENTERPRISES LTD (REGISTERED NUMBER: 09456354) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KHALIDS ENTERPRISES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Landmark House |
1 Riseholme Road |
Lincoln |
Lincolnshire |
LN1 3SN |
KHALIDS ENTERPRISES LTD (REGISTERED NUMBER: 09456354) |
ABRIDGED BALANCE SHEET |
28 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
CURRENT ASSETS |
Debtors |
Investments |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
KHALIDS ENTERPRISES LTD (REGISTERED NUMBER: 09456354) |
ABRIDGED BALANCE SHEET - continued |
28 FEBRUARY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
KHALIDS ENTERPRISES LTD (REGISTERED NUMBER: 09456354) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Financial instruments |
The company classifies its financial instruments into the following categories: financial assets at fair value through profit or loss (FVPL), financial assets at fair value through other comprehensive income (FVOCI), financial assets at amortised cost, financial liabilities at FVPL, and financial liabilities at amortised cost. The classification depends on the contractual cash flow characteristics and the business model under which the financial assets are managed. The company determines the classification of its financial instruments at initial recognition and re-evaluates this designation at each reporting date. |
Derivative contracts are recognised initially at fair value and subsequently re-measured at their fair value at each reporting date. The resulting gain or loss is recognised in profit or loss. The company does not apply hedge accounting for its derivative contracts. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
KHALIDS ENTERPRISES LTD (REGISTERED NUMBER: 09456354) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
3. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2023 |
and 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |