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Registered Number: 13148602
England and Wales

 

 

 

IG KHAN INVESTMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors Gulraiz Khan
Ibrar Ali Khan
Registered Number 13148602
Registered Office Fenlake House, Fenlake Business Centre
Fengate
Peterborough
Cambridgeshire
PE1 5BQ
Accountants aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 January 2024
Principal activities
The companys principal activity during the year was buying and selling of own real estate
Directors
The directors who served the company throughout the year were as follows:
Gulraiz Khan
Ibrar Ali Khan
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Gulraiz Khan
Director

Date approved: 30 January 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of IG Khan Investment Ltd for the year ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of IG Khan Investment Ltd for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of IG Khan Investment Ltd, as a body, in accordance with the terms of our engagement letter dated 30 January 2025. Our work has been undertaken solely to prepare for your approval the accounts of IG Khan Investment Ltd and state those matters that we have agreed to state to the Board of Directors of IG Khan Investment Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IG Khan Investment Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that IG Khan Investment Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of IG Khan Investment Ltd. You consider that IG Khan Investment Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of IG Khan Investment Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
31 January 2024



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
30 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 3 417,621    106,955 
Debtors 4 277,565    79,789 
Cash at bank and in hand 138    12,416 
695,324    199,160 
Creditors: amount falling due within one year 5 (779,498)   (205,128)
Net current assets (84,174)   (5,968)
 
Total assets less current liabilities (84,174)   (5,968)
Net assets (84,174)   (5,968)
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account (84,274)   (6,068)
Shareholders' funds (84,174)   (5,968)
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 January 2025 and were signed on its behalf by:


-------------------------------
Gulraiz Khan
Director
4
General Information
IG Khan Investment Ltd is a private company, limited by shares, registered in England and Wales, registration number 13148602, registration address Fenlake House, Fenlake Business Centre, Fengate, Peterborough, Cambridgeshire, PE1 5BQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees including directors

Average number of employees during the year was 2 (2023 : 2).
3.

Stocks

2024
£
  2023
£
Work in Progress 417,621    106,955 
417,621    106,955 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Amount Owed by Participating Interests 208,645    15,895 
Prepayments & Accrued Income   19,011 
Other Debtors 68,198    43,198 
VAT 722    1,685 
277,565    79,789 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 24,852    41,977 
Amounts Owed to Participating Interests 64,300    64,300 
PAYE & Social Security 13,721    933 
Other Creditors 54,500    54,500 
Wages & Salaries Control Account 2,431    5,163 
Directors' Current Accounts 619,694    38,255 
779,498    205,128 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

7.

Share Capital

On 21 January 2021 the company issued 100 Ordinary Shares at par.
8.

Related Party Transactions

The directors have advanced to and have been advanced monies by the company during the year. The balance at 31 January 2024 is £619,694 (2023: £38,255) owed to the directors.

During the year the company entered into the following transactions with related parties:


£54,300 (2023: £54,300) owed to CT Peterborough Limited

£10,000 (2023: £10,000) owed to CT Imed Ltd

£208,645 (2023: £15,895) owed by IG Bespoke Ltd

£33,198 (2023: £33,198) owed by Ask Properties Ltd

£10,000 (2023: £10,000) owed by AYD Investments Ltd

£18,000 (2023: £0) owed by SFH Ltd

5