Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31false2023-04-01Property investment11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11351227 2023-04-01 2024-03-31 11351227 2022-04-01 2023-03-31 11351227 2024-03-31 11351227 2023-03-31 11351227 c:Director1 2023-04-01 2024-03-31 11351227 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 11351227 d:FreeholdInvestmentProperty 2024-03-31 11351227 d:FreeholdInvestmentProperty 2023-03-31 11351227 d:CurrentFinancialInstruments 2024-03-31 11351227 d:CurrentFinancialInstruments 2023-03-31 11351227 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11351227 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11351227 d:ShareCapital 2024-03-31 11351227 d:ShareCapital 2023-03-31 11351227 d:RetainedEarningsAccumulatedLosses 2024-03-31 11351227 d:RetainedEarningsAccumulatedLosses 2023-03-31 11351227 c:FRS102 2023-04-01 2024-03-31 11351227 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11351227 c:FullAccounts 2023-04-01 2024-03-31 11351227 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11351227 d:UltimateParent 2023-04-01 2024-03-31 11351227 2 2023-04-01 2024-03-31 11351227 6 2023-04-01 2024-03-31 11351227 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11351227









KARTIK CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
KARTIK CAPITAL LIMITED
REGISTERED NUMBER: 11351227

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
101
101

Investment property
 5 
1,148,722
535,510

  
1,148,823
535,611

Current assets
  

Debtors: amounts falling due within one year
 6 
3,566,833
3,210,234

Cash at bank and in hand
 7 
235,110
77,998

  
3,801,943
3,288,232

Creditors: amounts falling due within one year
 8 
(2,272,345)
(967,778)

Net current assets
  
 
 
1,529,598
 
 
2,320,454

Total assets less current liabilities
  
2,678,421
2,856,065

  

Net assets
  
2,678,421
2,856,065


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,678,420
2,856,064

  
2,678,421
2,856,065


Page 1

 
KARTIK CAPITAL LIMITED
REGISTERED NUMBER: 11351227
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 June 2025.




N Handa
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
KARTIK CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Kartik Capital Limited is a private company, limited by shares, domiciled in England and Wales, registration number 11351227. The registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company is property investment and development. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised in respect of rental income. Rental income is recognised in the month in which it relates. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 
KARTIK CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual
Page 4

 
KARTIK CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

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 at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
KARTIK CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
101



At 31 March 2024
101





5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
535,510


Additions at cost
613,212



At 31 March 2024
1,148,722

The 2024 valuations were made by the Director, on an open market value for existing use basis.




Page 6

 
KARTIK CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Other debtors
3,550,139
3,193,540

Tax recoverable
16,694
16,694

3,566,833
3,210,234



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
235,110
77,998

235,110
77,998



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,845,435
581,339

Other loans
39,243
46,692

Trade creditors
4,674
6,228

Corporation tax
19,924
16,694

Other creditors
358,683
314,675

Accruals and deferred income
4,386
2,150

2,272,345
967,778



9.


Related party transactions

At the year end the following amounts were due from/(to) related parties:


2024
2023
£
£

Key management
110,794
191,587
Entities under common control
2,945,620
2,589,121
3,056,414
2,780,708

Page 7

 
KARTIK CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Controlling party

The ultimate controlling party is N Handa by virtue of his shareholding. 

 
Page 8