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Registered number: 09473282
Golkonda Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ash & Associates
Chartered Accountants
First Floor
1A Leadenhall Market
London
EC3V 1LR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09473282
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 582 721
Investment Properties 5 148,241 148,241
148,823 148,962
CURRENT ASSETS
Debtors 6 57,013 47,711
Cash at bank and in hand 93,328 125,016
150,341 172,727
Creditors: Amounts Falling Due Within One Year 7 (264,134 ) (276,829 )
NET CURRENT ASSETS (LIABILITIES) (113,793 ) (104,102 )
TOTAL ASSETS LESS CURRENT LIABILITIES 35,030 44,860
Creditors: Amounts Falling Due After More Than One Year 8 (23,538 ) (28,967 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (4,334 ) (4,366 )
NET ASSETS 7,158 11,527
CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 18,030 -
Profit and Loss Account (10,972 ) 11,427
SHAREHOLDERS' FUNDS 7,158 11,527
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Page 2
For the year ending 31 March 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
MR STEFAN BATESON
Director
7th March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Golkonda Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09473282 . The registered office is 23 Eton Court, Eton Avenue, London, United Kingdom, NW3 3HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% WDV
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.5. Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose relatedparty transactions with wholly owned subsidiaries within the group.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 750
As at 31 March 2024 750
Depreciation
As at 1 April 2023 29
Provided during the period 139
As at 31 March 2024 168
Net Book Value
As at 31 March 2024 582
As at 1 April 2023 721
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 148,241
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 125,982 125,982
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 6,893 -
Tax account 2,711 2,711
9,604 2,711
Due after more than one year
Other debtors 47,409 45,000
57,013 47,711
Other debtors falling due after one year relate to loans to connected 3rd parties on commercial terms 5% fixed interest per annum.
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Other creditors 2,600 2,600
Accruals and deferred income 1,500 2,460
Directors' loan accounts 119,348 131,083
Amounts owed to group undertakings 130,686 130,686
264,134 276,829
Other loans, amounts owed to group undertakings and the directors current account balances are all repayable on demand with no interest terms attaching
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,000 10,000
Bank loans - 2-5 years 13,538 18,967
23,538 28,967
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 4,334 4,366
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Reserves
Fair Value Reserve
£
Transfer to profit and loss 18,030
As at 31 March 2024 18,030
At the balance sheet date there were non-distributable reserves of £18,030 included in retained earnings.
12. Ultimate Controlling Party
The company is a 100% wholly owned subsidiary of Holborn Estates Limited, the ultimate parent company. MR STEFAN BATESON and MS AMEER UNISA-BEGUM are the directors of the ultimate parent company and hold 65% and 35% respectively of the shares in the ultimate parent company.
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