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Registered Number: 05101264
England and Wales

 

 

 

KHELA (UK) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,501,303    3,126,158 
Investments 4 152,265    130,182 
2,653,568    3,256,340 
Current assets      
Stocks 5 694,000    694,000 
Debtors 6 19,390    5,901 
Cash at bank and in hand 22,116    27,155 
735,506    727,056 
Creditors: amount falling due within one year 7 (241,024)   (182,667)
Net current assets 494,482    544,389 
 
Total assets less current liabilities 3,148,050    3,800,729 
Creditors: amount falling due after more than one year 8 (2,350,912)   (2,383,070)
Provisions for liabilities 9 (147,972)   (147,972)
Net assets 649,166    1,269,687 
 

Capital and reserves
     
Called up share capital 10 700,000    700,000 
Reserves 11   231,507 
Profit and loss account (50,834)   338,180 
Shareholders' funds 649,166    1,269,687 
 


For the 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.

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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 January 2025 and were signed on its behalf by:


-------------------------------
B S Khela
Director
1
General Information
KHELA (UK) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05101264, registration address Unit 2, Manor Court, Manor Mill Lane, Leeds, LS11 8LQ.

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 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
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings Freehold-  Nil
The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

Plant and Machinery 20% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
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.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


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

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 May 2023 3,112,030    26,066    3,138,096 
Additions    
Disposals    
Revaluations (622,030)     (622,030)
At 30 April 2024 2,490,000    26,066    2,516,066 
Depreciation
At 01 May 2023   11,938    11,938 
Charge for year   2,825    2,825 
On disposals    
At 30 April 2024   14,763    14,763 
Net book values
Closing balance as at 30 April 2024 2,490,000    11,303    2,501,303 
Opening balance as at 01 May 2023 3,112,030    14,128    3,126,158 

A desktop valuation was performed by the director during the year.

4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 May 2023 130,182    130,182 
Additions 22,083    22,083 
Transfer to/from tangible fixed assets  
Disposals  
At 30 April 2024 152,265    152,265 

5.

Stocks

2024
£
  2023
£
Work in Progress 694,000    694,000 
694,000    694,000 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 14,079   
Other Debtors 5,311    5,901 
19,390    5,901 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 107,728    50,937 
Bank Loans & Overdrafts 61,099    60,867 
Taxation and Social Security 1,250   
Other Creditors 70,947    70,863 
241,024    182,667 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 202,664    264,415 
Other Creditors 2,148,248    2,118,655 
2,350,912    2,383,070 
The bank loans are secured against the business assets.

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 147,972    147,972 
147,972    147,972 

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
99 Ordinary shares of £1.00 each 99    99 
1 Ordinary A share of £1.00 each  
100    100 
All shares rank pari passu and have equal voting rights.

11.

Reserves

2024
£
  2023
£
Revaluation Reserve b/fwd 231,507    231,507 
Revaluation of Fixed Assets (231,507)  
  231,507 

12.

Director’s loan

Directors Loan Account

At 30th April 2024 the Directors Loan Account of £2,083,247 (2023: £2,053,654) is unsecured, and currently interest free. During the period the director incurred the following transactions:

Director's Loan Account   Balance b/fwd
£
  Advances
£
  Credit
£
  Balance c/fwd
£
Director (2,053,654) 11,500  (41,093) (2,083,247)

13.

Control

The company was under the control of the directors in the current and previous year.
2