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Registered Number: 14319684
England and Wales

 

 

 

KHAN ASSET MANAGEMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
  2024   2023
    £ £   £ £
Fixed assets   5,000      5,000 
Current assets 22,418      24,081   
Creditors: amount falling due within one year (36,024)     (36,024)  
Net current assets   (13,606)     (11,943)
Total assets less current liabilities   (8,606)     (6,943)
Net assets   (8,606)     (6,943)
 

         
Capital and reserves   (8,606)     (6,943)
 
NOTES TO THE ACCOUNTS

General Information
KHAN ASSET MANAGEMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 14319684, registration address 5 Clews Close, Walsall, West Midlands, WS1 4JD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
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.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 September 2023 5,000    5,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 August 2024 5,000    5,000 

3.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).


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:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

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 accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 18 March 2025 and were signed by:


--------------------------------
Junaid Khan
Director
1