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Registered Number: 09158210
England and Wales

 

 

 

DEEP KAILEY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Sundeep Kaur Kailey
Registered Number 09158210
Registered Office 7 Bell Yard, London
England
United Kingdom
WC2A 2JR
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 August 2024
Principal activities
The company's principal activity was of artistic creation and other business support service activities not elsewhere classified.
Director
The director who served the company throughout the year was as follows:
Sundeep Kaur Kailey
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director 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 director is 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 director is 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 director is 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 director is 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.

On behalf of the board.


----------------------------------
Sundeep Kaur Kailey
Director

Date approved: 05 February 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise 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 accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 August 2024



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
05 February 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 997    1,330 
997    1,330 
Current assets      
Debtors 4 240   
Cash at bank and in hand 3,146    1,831 
3,386    1,831 
Creditors: amount falling due within one year 5 (52,512)   (24,888)
Net current assets (49,126)   (23,057)
 
Total assets less current liabilities (48,129)   (21,727)
Creditors: amount falling due after more than one year 6 (5,625)   (12,960)
Net assets (53,754)   (34,687)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (53,755)   (34,688)
Shareholders' funds (53,754)   (34,687)
 


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

Director's 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 director acknowledges 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 director on 05 February 2025 and were signed by:


-------------------------------
Sundeep Kaur Kailey
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 September 2022 1  (24,216) (24,215)
Profit for the year (10,472) (10,472)
Total comprehensive income for the year (10,472) (10,472)
Total investments by and distributions to owners
At 31 August 2023 1  (34,688) (34,687)
At 01 September 2023 1  (34,688) (34,687)
Profit for the year (19,067) (19,067)
Total comprehensive income for the year (19,067) (19,067)
Total investments by and distributions to owners
At 31 August 2024 1  (53,755) (53,754)
5
General Information
Deep Kailey Ltd is a private company, limited by shares, registered in England and Wales, registration number 09158210, registration address 7 Bell Yard, London, England, United Kingdom, WC2A 2JR.

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)
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
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
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:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
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 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 September 2023 1,008    3,707    4,715 
Additions    
Disposals    
At 31 August 2024 1,008    3,707    4,715 
Depreciation
At 01 September 2023 598    2,787    3,385 
Charge for year 103    230    333 
On disposals    
At 31 August 2024 701    3,017    3,718 
Net book values
Closing balance as at 31 August 2024 307    690    997 
Opening balance as at 01 September 2023 410    920    1,330 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 240   
240   

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 452    202 
Bank Loans & Overdrafts (Secured) 7,336    7,155 
Accrued Expenses 900    900 
Deep Kailey LTD Credit Card 2,509    249 
Directors' Current Accounts 41,221    16,382 
VAT 94   
52,512    24,888 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 5,625    12,960 
5,625    12,960 

6