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REGISTERED NUMBER: 07803067 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

KHARMEL COCHRANE CASTING LTD

KHARMEL COCHRANE CASTING LTD (REGISTERED NUMBER: 07803067)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KHARMEL COCHRANE CASTING LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Ms K Cochrane
A Gravett





REGISTERED OFFICE: 10 London Mews
London
W2 1HY





REGISTERED NUMBER: 07803067 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

KHARMEL COCHRANE CASTING LTD (REGISTERED NUMBER: 07803067)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,331 9,436

CURRENT ASSETS
Debtors 5 275,256 269,931
Cash at bank 52,340 38,028
327,596 307,959
CREDITORS
Amounts falling due within one year 6 313,156 293,990
NET CURRENT ASSETS 14,440 13,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,771

23,405

CREDITORS
Amounts falling due after more than one
year

7

63,790

23,333
NET (LIABILITIES)/ASSETS (19 ) 72

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (119 ) (28 )
SHAREHOLDERS' FUNDS (19 ) 72

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.

KHARMEL COCHRANE CASTING LTD (REGISTERED NUMBER: 07803067)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





Ms K Cochrane - Director


KHARMEL COCHRANE CASTING LTD (REGISTERED NUMBER: 07803067)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Kharmel Cochrane Casting Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
After reviewing the company's forecasts and projections, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents net invoiced services, excluding value added tax.

Rendering of services

Revenue for providing services are recognised when the service has been completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance
Computer equipment - 33.33% reducing balance

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

KHARMEL COCHRANE CASTING LTD (REGISTERED NUMBER: 07803067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 12,949 - 1,645 14,594
Additions - 56,387 - 56,387
At 31 March 2024 12,949 56,387 1,645 70,981
DEPRECIATION
At 1 April 2023 3,549 - 1,609 5,158
Charge for year 2,367 14,097 28 16,492
At 31 March 2024 5,916 14,097 1,637 21,650
NET BOOK VALUE
At 31 March 2024 7,033 42,290 8 49,331
At 31 March 2023 9,400 - 36 9,436

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 165,956 121,069
Directors' current accounts 66,296 105,858
Tax 43,004 43,004
275,256 269,931

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 8,139 -
Trade creditors 5,973 -
Tax 203,206 215,087
Social security and other taxes 9,012 8,712
VAT 67,049 49,647
Other creditors 1,317 3,384
Accrued expenses 8,460 7,160
313,156 293,990

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 3,334 13,333
Hire purchase contracts 50,456 -
63,790 23,333

KHARMEL COCHRANE CASTING LTD (REGISTERED NUMBER: 07803067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary Shares 1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Ms K Cochrane
Balance outstanding at start of year 105,858 132,321
Amounts repaid (39,562 ) (26,463 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,296 105,858