Registered number: 10529690 | ||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||
Prepared By: | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Khandy Residential Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 10529690 | ||||||||
ACCOUNTANTS | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Khandy Residential Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31 MARCH 2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Khandy Residential Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
Investment Assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
2,233,433 | 1,544,637 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT ASSETS | 618,987 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 6 | 7,708,968 | 7,560,490 | |||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Share premium account | 10 | |||||||||
Revaluation reserve | 1f,11 | 380,000 | 380,000 | |||||||
Profit and loss account | 4,495 | 70,863 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Khandy Residential Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Plant And Machinery | reducing balance15-25% | |||||||
Motor Cars | reducing balance25% |
1c. Investment Properties | ||||||||
Investment properties are included in the financial statements at fair value. Gains and losses on remeasurement of fair value are recognised in the Statement of comprehensive income, within Other operating income. |
1d. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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. |
1e. Investments | ||||||||
Fixed asset investments are shown at cost less impairment. |
1f. Revaluation Reserve | ||||||||
Surpluses and deficits on the revaluation of investment property are taken to the Statement of Comprehensive Income and subsequently transferred from Profit and Loss account reserve to a non-distributable Revaluation reserve (See also note 11). |
Khandy Residential Ltd | ||||||||
1g. Turnover | ||||||||
Turnover represents the total value of rental income receivable during the year. The total turnover of the company for the year has been dervied from this activity wholly undertaken in the UK. |
1h. Statutory Information | ||||||||
Khandy Residential Ltd is a private company, limited by shares, incorporated in England and Wales. The company's registered number is 10529690 and registered office address is First Floor, 85 Great Portland Street, London, England, W1W 7LT. |
1i. Financial Instruments | ||||||||
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments. |
1j. Consolidation | ||||||||
In the opinion of the directors, the Company and its subsidiary undertakings comprise a small group. The Company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. These financial statements present information about the Company as an individual undertaking and not about its group. |
2. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 1 April 2023 | 13,838,913 | 13,838,913 | ||||||
Additions | 107,075 | 107,075 | ||||||
Disposals | (640,000) | (640,000) | ||||||
At 31 March 2024 | 13,305,988 | 13,305,988 | ||||||
The investment properties are stated at fair value at the balance sheet date. | ||||||||
Khandy Residential Ltd | ||||||||
3. FINANCIAL ASSETS | |||||||||
Shares in group companies | |||||||||
and participating interests | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 1 April 2023 | 4 | 4 | |||||||
At 31 March 2024 | 4 | 4 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31 March 2024 | 4 | 4 | |||||||
At 31 March 2023 | 4 | 4 | |||||||
Subsidiary undertakings: The following were subsidiary undertakings of the company: | |||||||||
100% holding in the Ordinary shares of Khandy Properties Ltd, a company registered in England and Wales. | |||||||||
The aggregate of the share capital and reserves of the subsidiary as at 31 March 2024 was £8,755 (2023: £8,134), and the loss for the year was £8,755 (2023: £8,134). |
4. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Other debtors | 1,260,083 | 905,568 | ||||||
Amounts due from group companies | 937,597 | 588,097 | ||||||
Prepayments | - | 34,013 | ||||||
2,197,680 | 1,527,678 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Taxation and social security | 1,709 | - | ||||||
Directors current account | 946,865 | 905,787 | ||||||
Bank Loan | - | 10,948 | ||||||
Hire purchase | 13,175 | 3,856 | ||||||
Trade creditors | - | 3,859 | ||||||
Other creditors | 20,035 | - | ||||||
Accruals | 3,000 | 1,200 | ||||||
984,784 | 925,650 | |||||||
Khandy Residential Ltd | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 22,415 | 30,478 | ||||||
Mortgage (secured) >1yr | 7,661,907 | 7,483,164 | ||||||
Hire purchase >1yr | 24,646 | 46,848 | ||||||
7,708,968 | 7,560,490 | |||||||
7. SECURED CREDITORS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Amount of other creditors which are secured | 7,460,634 | 7,483,164 | ||||||
Secured Creditors are secured on the investment properties held by the company. | ||||||||
8. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | - | |||||
9. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
10. SHARE PREMIUM ACCOUNT | 2024 | 2023 | ||||
£ | £ | |||||
Share premium account | 6,506,717 | 6,506,717 |
Khandy Residential Ltd | ||||||||
11. REVALUATION RESERVE | 2024 | 2023 | ||||||
£ | £ | |||||||
Revaluation reserve | 380,000 | 380,000 | ||||||
380,000 | 380,000 | |||||||
12. POST BALANCE SHEET EVENT NOTE | ||||||||
The company acquired the entire share capital of Regency Western Ltd at par value of £100, on 1 August 2024. | ||||||||