Kard Group Limited 12479592 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of property development. Digita Accounts Production Advanced 6.30.9574.0 true true 12479592 2023-03-01 2024-02-29 12479592 2024-02-29 12479592 core:CurrentFinancialInstruments 2024-02-29 12479592 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 12479592 bus:SmallEntities 2023-03-01 2024-02-29 12479592 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12479592 bus:FilletedAccounts 2023-03-01 2024-02-29 12479592 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12479592 bus:RegisteredOffice 2023-03-01 2024-02-29 12479592 bus:Director1 2023-03-01 2024-02-29 12479592 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12479592 countries:EnglandWales 2023-03-01 2024-02-29 12479592 2023-02-28 12479592 2022-03-01 2023-02-28 12479592 2023-02-28 12479592 core:CurrentFinancialInstruments 2023-02-28 12479592 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 12479592

Kard Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Kard Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Kard Group Limited

(Registration number: 12479592)
Balance Sheet as at 29 February 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Investment property

4

1,655,763

1,603,519

Current assets

 

Debtors

5

124,726

119,425

Creditors: Amounts falling due within one year

6

(1,787,036)

(1,726,441)

Net current liabilities

 

(1,662,310)

(1,607,016)

Net liabilities

 

(6,547)

(3,497)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(6,549)

(3,499)

Shareholders' deficit

 

(6,547)

(3,497)

For the financial year ending 29 February 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 May 2025
 

.........................................
A Rai
Director

 

Kard Group Limited

(Registration number: 12479592)
Balance Sheet as at 29 February 2024

.........................................
A Rai
Director

 

Kard Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
89 Turnpike Road
Newbury
Berkshire
RG14 2QR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is reliant on the financial support of it's former director, S D Rai. Therefore, the accounts have been prepared on a going concern basis on the understanding that sufficient cash will be made available to enable the company to meet its liabilities as they fall due.

Prior period errors

The following prior year adjustments have been made:

i.) The company acquired an investment property in the financial year ended 28 February 2021 which had not previously been recognised in the accounts. The value of the property was £500,000. The prior year results have been restated to include this asset at fair value.
ii.) Construction works pertaining to the property noted above totalling £1,026,143 have previously been recorded in the financial statements as stock. The prior year results have been restated to transfer these costs to investment property cost to better reflect the future intended use of the property.
iii) VAT paid on construction work totalling £77,376 which is irrecoverable has previously been recognised in the accounts as an other debtor. The prior year results have been restated to include this costs within investment property.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Kard Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 March

1,603,519

Additions

52,244

At 29 February

1,655,763

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

(As restated)

2023
£

Other debtors

124,726

119,425

 

124,726

119,425

 

Kard Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

(As restated)

2023
£

Due within one year

Trade creditors

-

2,099

Other creditors

1,787,036

1,724,342

1,787,036

1,726,441

7

Related party transactions

Other transactions with the director

During the year the directors had a loan account with the company. At the balance sheet date the amount due to the directors was £1,784,637 (2023 as restated: £1,724,342).