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REGISTERED NUMBER: 11714096 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

KARAT PROPERTIES LIMITED

KARAT PROPERTIES LIMITED (REGISTERED NUMBER: 11714096)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KARAT PROPERTIES LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P S Kulkarni
Mrs M Kulkarni





REGISTERED OFFICE: 2 Jardine House
Bessborough Road
Harrow
HA1 3EX





REGISTERED NUMBER: 11714096 (England and Wales)





ACCOUNTANTS: Barber & Company
A trading name of PCM Accounting Limited
2 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

KARAT PROPERTIES LIMITED (REGISTERED NUMBER: 11714096)

Statement of Financial Position
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 519 648

CURRENT ASSETS
Inventories 5 1,930,881 1,426,233
Debtors 6 15,031 25,286
Cash at bank 1,313 144,215
1,947,225 1,595,734
CREDITORS
Amounts falling due within one year 7 433,771 501,437
NET CURRENT ASSETS 1,513,454 1,094,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,513,973

1,094,945

CREDITORS
Amounts falling due after more than one
year

8

1,543,732

1,120,000
NET LIABILITIES (29,759 ) (25,055 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (29,761 ) (25,057 )
SHAREHOLDERS' FUNDS (29,759 ) (25,055 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

KARAT PROPERTIES LIMITED (REGISTERED NUMBER: 11714096)

Statement of Financial Position - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2024 and were signed on its behalf by:




P S Kulkarni - Director



Mrs M Kulkarni - Director


KARAT PROPERTIES LIMITED (REGISTERED NUMBER: 11714096)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Karat Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
During the period under review, the company made a trading loss before taxation amounting to £4,704 (2023: £7,798) and at the balance sheet date, the company had net current assets amounting to £1,513,454 (2023: £1,094,297) and net liabilities amounting to £29,759 (2023: £25,055).

The company continues to meet its day to day working capital requirements with the support of its director's and shareholder's. The board have taken this into consideration in their decision to prepare the Financial Statements on a going concern basis.

Turnover
Revenue 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

KARAT PROPERTIES LIMITED (REGISTERED NUMBER: 11714096)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 1,266
DEPRECIATION
At 1 April 2023 618
Charge for year 129
At 31 March 2024 747
NET BOOK VALUE
At 31 March 2024 519
At 31 March 2023 648

5. INVENTORIES
31.3.24 31.3.23
£    £   
Property development costs 1,930,881 1,426,233

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 15,031 25,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Directors' current accounts 430,771 498,436
Accruals and deferred income 3,000 3,001
433,771 501,437

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 1,543,732 1,120,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2