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Khatib Estates Ltd

Registered Number
13876501
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Khatib Estates Ltd
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Dr Raahil Khatib

Registered Address

92 Northgate
Cottingham
HU16 4EH

Registered Number

13876501 (England and Wales)
Khatib Estates Ltd
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3227,700227,700
Investments4100100
227,800227,800
Current assets
Debtors181,989133,567
Cash at bank and on hand-158
181,989133,725
Creditors amounts falling due within one year5(113,657)(29,192)
Net current assets (liabilities)68,332104,533
Total assets less current liabilities296,132332,333
Creditors amounts falling due after one year6(293,929)(300,333)
Net assets2,20332,000
Capital and reserves
Called up share capital100100
Profit and loss account2,10331,900
Shareholders' funds2,20332,000
The financial statements were approved and authorised for issue by the Director on 25 March 2025, and are signed on its behalf by:
Dr Raahil Khatib
Director
Registered Company No. 13876501
Khatib Estates Ltd
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Functional and presentation currency
The financial statements are presented in sterling, which is the functional currency of the entity.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Turnover policy
The revenue shown in the profit and loss is from income from rental charges and shares in group undertakings.
Dividend income
Dividend income is recognised when the right to receive payment is established.
Current taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investments
Investments are initially recorded at cost, and subsequently stated as cost less any accumulated depreciation and impairment losses.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 April 23227,700227,700
At 31 March 24227,700227,700
Net book value
At 31 March 24227,700227,700
At 31 March 23227,700227,700
4.Fixed asset investments
The fixed asset investment represents the cost of acquiring 100% of the share capital in Cottingham Dental Studio Ltd. This company is a trading company registered in England and Wales. Under the provision of the Companies Act 2006, the company is exempt from preparing the consolidated accounts and has not done so. Therefore, the accounts show information about the company as a single entity.

Investments in groups1

Total

££
Cost or valuation
At 01 April 23100100
At 31 March 24100100
Net book value
At 31 March 24100100
At 31 March 23100100

Notes

1Investments in group undertakings and participating interests
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts4,4532,392
Other creditors106,15725,300
Accrued liabilities and deferred income3,0471,500
Total113,65729,192
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts293,929300,333
Total293,929300,333
7.Related party transactions
During the year the director made available a loan to the company of £106,157 (2023: £25,300). This loan is repayable upon demand. Interest has been charged on the loan at the UK market rate on a monthly basis throughout the period.
8.Parent-subsidiary relationships
Khatib Estates Ltd is the parent company within it's group, owning 100% of the share capital in Cottingham Dental Studio Ltd.