0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 800,000 800,000 800,000 222,989 466,291 107,292 47,010 628,998 628,998 222,989 xbrli:pure xbrli:shares iso4217:GBP SC287930 2023-08-01 2024-07-31 SC287930 2024-07-31 SC287930 2023-07-31 SC287930 2022-08-01 2023-07-31 SC287930 2023-07-31 SC287930 2022-07-31 SC287930 bus:LeadAgentIfApplicable 2023-08-01 2024-07-31 SC287930 bus:Director1 2023-08-01 2024-07-31 SC287930 core:WithinOneYear 2024-07-31 SC287930 core:WithinOneYear 2023-07-31 SC287930 core:LandBuildings 2023-08-01 2024-07-31 SC287930 core:ShareCapital 2024-07-31 SC287930 core:ShareCapital 2023-07-31 SC287930 core:RevaluationReserve 2024-07-31 SC287930 core:RevaluationReserve 2023-07-31 SC287930 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC287930 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC287930 core:CostValuation core:Non-currentFinancialInstruments 2023-07-31 SC287930 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-07-31 SC287930 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-07-31 SC287930 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-07-31 SC287930 core:CostValuation core:Non-currentFinancialInstruments 2024-07-31 SC287930 core:Non-currentFinancialInstruments 2024-07-31 SC287930 core:Non-currentFinancialInstruments 2023-07-31 SC287930 core:LandBuildings 2023-07-31 SC287930 core:LandBuildings 2023-07-31 SC287930 bus:SmallEntities 2023-08-01 2024-07-31 SC287930 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC287930 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC287930 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC287930 bus:FullAccounts 2023-08-01 2024-07-31 SC287930 core:AllUnconsolidatedStructuredEntities 2024-07-31
COMPANY REGISTRATION NUMBER: SC287930
Keruli Limited
Filleted Unaudited Financial Statements
31 July 2024
Keruli Limited
Financial Statements
Year ended 31 July 2024
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Keruli Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Keruli Limited
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Keruli Limited for the year ended 31 July 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Keruli Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Keruli Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Keruli Limited and its director for our work or for this report.
It is your duty to ensure that Keruli Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Keruli Limited. You consider that Keruli Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Keruli Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
21 November 2024
Keruli Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
800,000
Investments
5
628,998
222,989
---------
------------
628,998
1,022,989
Current assets
Cash at bank and in hand
232,872
23,547
Creditors: amounts falling due within one year
6
605,628
665,388
---------
---------
Net current liabilities
372,756
641,841
---------
------------
Total assets less current liabilities
256,242
381,148
---------
---------
Net assets
256,242
381,148
---------
---------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
52,769
5,758
Profit and loss account
203,472
375,389
---------
---------
Shareholders funds
256,242
381,148
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 November 2024 , and are signed on behalf of the board by:
Mr R Erwin
Director
Company registration number: SC287930
Keruli Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Income tax
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 amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Land and buildings
£
Cost
At 1 August 2023
800,000
Disposals
( 800,000)
---------
At 31 July 2024
---------
Depreciation
At 1 August 2023 and 31 July 2024
---------
Carrying amount
At 31 July 2024
---------
At 31 July 2023
800,000
---------
Tangible assets held at valuation
The company's investment property was disposed of in the year by the Directors on an open market value basis after taking appropriate professional advice. As at 31 July 2024 the property was valued at £Nil (2023: £800,000)
5. Investments
Other investments other than loans
£
Cost
At 1 August 2023
222,989
Additions
466,291
Disposals
( 107,292)
Revaluations
47,010
---------
At 31 July 2024
628,998
---------
Impairment
At 1 August 2023 and 31 July 2024
---------
Carrying amount
At 31 July 2024
628,998
---------
At 31 July 2023
222,989
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
4,448
10,988
Other creditors
601,180
654,400
---------
---------
605,628
665,388
---------
---------
7. Related party transactions
As at 31st July 2024 the company owed £ 600,000 (2023 - £623,500) to an entity under common control.
8. Controlling party
The company was under the control of Mrs G Erwin throughout the current period.