Company registration number 14069910 (England and Wales)
Z KHAN INVESTMENTS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
Z KHAN INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Z KHAN INVESTMENTS LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,121
1,933
Investment property
4
885,205
883,018
888,326
884,951
Current assets
Debtors
5
1,731
3,231
Cash at bank and in hand
10,871
7,455
12,602
10,686
Creditors: amounts falling due within one year
6
(274,317)
(274,101)
Net current liabilities
(261,715)
(263,415)
Total assets less current liabilities
626,611
621,536
Creditors: amounts falling due after more than one year
7
(622,475)
(622,475)
Provisions for liabilities
(780)
414
Net assets/(liabilities)
3,356
(525)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
3,256
(625)
Total equity
3,356
(525)
For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 January 2025 and are signed on its behalf by:
Mr A Khan
Director
Company registration number 14069910 (England and Wales)
Z KHAN INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Z Khan Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 16 Langdale Close, Maidenhead, Berkshire, United Kingdom, SL6 1SY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost , net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% reducing balance
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Z KHAN INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 May 2023
2,224
Additions
1,867
At 30 April 2024
4,091
Depreciation and impairment
At 1 May 2023
291
Depreciation charged in the year
679
At 30 April 2024
970
Carrying amount
At 30 April 2024
3,121
At 30 April 2023
1,933
Z KHAN INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Investment property
2024
£
Fair value
At 1 May 2023
883,018
Additions
2,187
At 30 April 2024
885,205
Investment property comprises real estate held for rent. The fair value of the investment property has been reviewed by the directors at the year end
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,500
Other debtors
1,731
1,731
1,731
3,231
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
71
Other creditors
273,146
273,101
Accruals and deferred income
1,100
1,000
274,317
274,101
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
622,475
622,475
The long term loan is secured against the investment property
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable other than by instalments
622,475
622,475
Z KHAN INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Related party transactions
As at 30 April 2023 Z Khan Investments Ltd owed an amount of £270,642 to A Khan Optics Ltd, this amount being included in other creditors amounts falling due within one year. Z Khan Investments Ltd & A Khan Optics Ltd has a common director & shareholder.
10
Directors' transactions
The company operates a current loan account with its directors. As at 30 April 2024 a balance of £773 (2023 - £728) was owed from the company to its directors and is included within creditors: amounts falling due within one year.