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VAIKAN LIMITED

Registered Number
12035967
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

VAIKAN LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

KANJI, Rahim
VAIYA, Alnasir Fatehali

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

12035967 (England and Wales)
VAIKAN LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets36,4006,400
Investments4335,474335,474
341,874341,874
Current assets
Debtors592,05230,880
Cash at bank and on hand-16
92,05230,896
Creditors amounts falling due within one year6(418,716)(347,823)
Net current assets (liabilities)(326,664)(316,927)
Total assets less current liabilities15,21024,947
Creditors amounts falling due after one year7(20,374)(25,000)
Net assets(5,164)(53)
Capital and reserves
Called up share capital200200
Profit and loss account(5,364)(253)
Shareholders' funds(5,164)(53)
The financial statements were approved and authorised for issue by the Board of Directors on 20 June 2025, and are signed on its behalf by:
KANJI, Rahim
Director
Registered Company No. 12035967
VAIKAN LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 July 236,4006,400
At 30 June 246,4006,400
Net book value
At 30 June 246,4006,400
At 30 June 236,4006,400
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 July 23335,474335,474
At 30 June 24335,474335,474
Net book value
At 30 June 24335,474335,474
At 30 June 23335,474335,474

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings29,46029,460
Other debtors62,5921,420
Total92,05230,880
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables998998
Bank borrowings and overdrafts8,4207,500
Amounts owed to related parties405,837338,125
Other creditors2,080-
Accrued liabilities and deferred income1,3811,200
Total418,716347,823
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts20,37425,000
Total20,37425,000
8.Directors advances, credits and guarantees
At the balance sheet date, the director's loan account has a £650(cr.) balance relates to director R Kanji. At the balance sheet date, the director's loan account has a £1,430(cr.) balance relates to director A Vaiya.
9.Related party transactions
At the year-end, Amounts owed by/to group undertakings balance include £37,252 (2023: £37,252 ) due to Cathedral Square Ltd and £29,460 (2023: £29,460) due from Sound Achievements (Cowgate) Ltd and £23,650 (2023: £18,530) due to Cheapside LE1 Ltd and £100 (2023: £100) due to KIYT Ltd and £18,650 (2023: £18,650) due to Ravka Ltd and £893 (2023: £893 ) due to Ravka369 Ltd and £460 (2023: £460 ) due to ST Nicholas Sub Ltd and £232,133 (2023: £232,133) due to Sound Achievements (Yorkshire) Ltd and £2 (2023: £2) due to Worksop Sub1 Ltd and £100 (2023: £100) due to Syston Sub Ltd and £62,594 (2023: £2) due to Loughborough Market Ltd and £30,002 (2023: £30,002) due to Loughborough Rushes Ltd and £1 (2023: £1) due to Worksop Sub2 Ltd , where Mr R Kanji or Mr.A Vaiya is also director of those companies.