Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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100 | 100 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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162,482 | 308,602 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 19,347 | 22,266 | ||
Total assets less current liabilities | 19,447 | 22,366 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Karn Havos Holdings Limited (registered number:
Mr A Banks
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Karn Havos Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in group companies are measured at cost less impairment.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 01 April 2023 |
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At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 31 March 2023 |
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Investments in shares
Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.03.2024 |
Ownership 31.03.2023 |
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Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA | Provision of construction services |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed by directors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Accruals |
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Corporation tax |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Mr & Mrs A Banks | 106,088 | 185,430 |
The directors operate a loan account with the company. At the year end the amount due from the directors was £106,088 (2023 - £185,430). No interest has been charged on this loan.
Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Karn Havos Building Company Limited | (89,826) | (205,283) |
The company operates an inter-group loan account with the subsidiary company. At the year end the amount due to the subsidiary company was £89,826 (2023 - £205,283). The loan is interest free and repayable on demand.