Registered number
06526348
KULLAR ENTERPRISES LTD
Filleted Accounts
29 February 2024
KULLAR ENTERPRISES LTD
Registered number: 06526348
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,881,677 2,796,497
Current assets
Cash at bank and in hand 250,834 307,900
Creditors: amounts falling due within one year 4 (851,711) (679,301)
Net current liabilities (600,877) (371,401)
Total assets less current liabilities 2,280,800 2,425,096
Creditors: amounts falling due after more than one year 5 (2,044,640) (2,151,595)
Net assets 236,160 273,501
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 235,160 272,501
Shareholders' funds 236,160 273,501
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A S Kullar
Director
Approved by the board on 28 March 2025
KULLAR ENTERPRISES LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the amount received for rents charged during the year exclusive of VAT.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles - 20% per annum on cost
Fixtures, fittings and equipment - 15% per annum on cost
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment properties Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 2,794,612 10,932 4,825 2,810,369
Additions 85,926 - - 85,926
At 29 February 2024 2,880,538 10,932 4,825 2,896,295
Depreciation
At 1 March 2023 - 9,048 4,824 13,872
Charge for the year - 746 - 746
At 29 February 2024 - 9,794 4,824 14,618
Net book value
At 29 February 2024 2,880,538 1,138 1 2,881,677
At 28 February 2023 2,794,612 1,884 1 2,796,497
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts (secured) 104,804 89,640
Trade creditors 555,505 441,057
Accrued expenses 13,000 4,200
Taxation and social security costs 58,633 58,377
Other creditors 119,769 86,027
851,711 679,301
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans (secured) 790,559 897,162
Shareholders loans 1,254,081 1,254,433
2,044,640 2,151,595
6 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 527,724 559,802
Secured bank loans 895,363 986,802
The bank loan is secured by a charge over the investment properties owned by the
company.
7 Other information
KULLAR ENTERPRISES LTD is a private company limited by shares and incorporated in England. Its registered office is:
128A Evington Road
Leicester
LE2 1HL
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