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Company No: 10414153 (England and Wales)

NISHA KATONA LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

NISHA KATONA LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

NISHA KATONA LIMITED

BALANCE SHEET

As at 31 October 2024
NISHA KATONA LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 14,171 22,431
14,171 22,431
Current assets
Debtors 4 45,894 13,984
Cash at bank and in hand 47,811 72,772
93,705 86,756
Creditors: amounts falling due within one year 5 ( 91,000) ( 74,096)
Net current assets 2,705 12,660
Total assets less current liabilities 16,876 35,091
Net assets 16,876 35,091
Capital and reserves
Called-up share capital 1 1
Profit and loss account 16,875 35,090
Total shareholders' funds 16,876 35,091

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Nisha Katona Limited (registered number: 10414153) were approved and authorised for issue by the Board of Directors on 12 April 2025. They were signed on its behalf by:

Z Katona
Director
NISHA KATONA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
NISHA KATONA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

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.

General information and basis of accounting

Nisha Katona 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 3 Stockport Exchange, Railway Road, Stockport, SK1 3GG, 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 £.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

**Rendering of services**

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Taxation

Current tax
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade and other creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 0

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 November 2023 33,739 8,232 41,971
At 31 October 2024 33,739 8,232 41,971
Accumulated depreciation
At 01 November 2023 13,496 6,044 19,540
Charge for the financial year 6,748 1,512 8,260
At 31 October 2024 20,244 7,556 27,800
Net book value
At 31 October 2024 13,495 676 14,171
At 31 October 2023 20,243 2,188 22,431

4. Debtors

2024 2023
£ £
Trade debtors 0 330
Other debtors 45,894 13,654
45,894 13,984

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 59,412 40,453
Other creditors 31,588 33,643
91,000 74,096

6. Related party transactions

Transactions with the entity's directors

During the year the directors were advanced £263,032 (2023: £85,043) by the company and repaid £218,000 (2023: £85,000). Interest of £653 (2023: £165) was charged on the loan in the year.

At the year end the directors owed the company £45,893 (2023: £208). The maximum outstanding in the year was £123,846 (2023: £70,158).

Other related party transactions

During the year, recharge income of £43,140 (2023: £51,375) was received from a company with a common director. At the year end, £29,757 (2023: £29,807) was held in other creditors due to allocate against future income.