Acorah Software Products - Accounts Production 16.3.350 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 04873557 Mrs Rashmi Khakharia Mr Paresh Khakharia Mrs Rashmi Khakharia iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04873557 2023-09-30 04873557 2024-09-30 04873557 2023-10-01 2024-09-30 04873557 frs-core:CurrentFinancialInstruments 2024-09-30 04873557 frs-core:Non-currentFinancialInstruments 2024-09-30 04873557 frs-core:FurnitureFittings 2023-10-01 2024-09-30 04873557 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 04873557 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-09-30 04873557 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04873557 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-30 04873557 frs-core:PlantMachinery 2024-09-30 04873557 frs-core:PlantMachinery 2023-10-01 2024-09-30 04873557 frs-core:PlantMachinery 2023-09-30 04873557 frs-core:RevaluationReserve 2023-10-01 2024-09-30 04873557 frs-core:RevaluationReserve 2023-09-30 04873557 frs-core:RevaluationReserve 2024-09-30 04873557 frs-core:ShareCapital 2024-09-30 04873557 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 04873557 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04873557 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 04873557 frs-bus:SmallEntities 2023-10-01 2024-09-30 04873557 frs-bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 04873557 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04873557 frs-core:UnlistedNon-exchangeTraded 2024-09-30 04873557 frs-core:UnlistedNon-exchangeTraded 2023-09-30 04873557 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-09-30 04873557 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-09-30 04873557 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-09-30 04873557 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-09-30 04873557 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-09-30 04873557 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-09-30 04873557 frs-bus:Director1 2023-10-01 2024-09-30 04873557 frs-bus:Director2 2023-10-01 2024-09-30 04873557 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 04873557 frs-core:CurrentFinancialInstruments 1 2024-09-30 04873557 frs-core:Non-currentFinancialInstruments 1 2024-09-30 04873557 frs-countries:EnglandWales 2023-10-01 2024-09-30 04873557 2022-09-30 04873557 2023-09-30 04873557 2022-10-01 2023-09-30 04873557 frs-core:CurrentFinancialInstruments 2023-09-30 04873557 frs-core:Non-currentFinancialInstruments 2023-09-30 04873557 frs-core:RevaluationReserve 2023-09-30 04873557 frs-core:ShareCapital 2023-09-30 04873557 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 04873557 frs-core:CurrentFinancialInstruments 1 2023-09-30 04873557 frs-core:Non-currentFinancialInstruments 1 2023-09-30
Registered number: 04873557
Khakharia Properties Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Price Mann Limited
Chartered Certified Accountants
Magnolia House, Spring Villa
11 Spring Villa Road
Edgware
HA8 7EB
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Khakharia Properties Limited for the year ended 30 September 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Khakharia Properties Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Khakharia Properties Limited , as a body, in accordance with the terms of our engagement letter dated 30 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Khakharia Properties Limited and state those matters that we have agreed to state to the directors of Khakharia Properties Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Khakharia Properties Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Khakharia Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Khakharia Properties Limited . You consider that Khakharia Properties 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 accounts of Khakharia Properties 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 financial statements.
Signed
27 June 2025
Price Mann Limited
Chartered Certified Accountants
Magnolia House, Spring Villa
11 Spring Villa Road
Edgware
HA8 7EB
Page 1
Page 2
Balance Sheet
Registered number: 04873557
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,505,001 14,231,168
Investments 5 813,564 808,564
14,318,565 15,039,732
CURRENT ASSETS
Debtors 6 29,452 14,968
Cash at bank and in hand 14,113 9,814
43,565 24,782
Creditors: Amounts Falling Due Within One Year 7 (561,023 ) (653,226 )
NET CURRENT ASSETS (LIABILITIES) (517,458 ) (628,444 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,801,107 14,411,288
Creditors: Amounts Falling Due After More Than One Year 8 (8,514,831 ) (8,321,201 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (523,419 ) (600,035 )
NET ASSETS 4,762,857 5,490,052
CAPITAL AND RESERVES
Called up share capital 10 68 68
Revaluation reserve 11 2,093,677 3,158,083
Profit and Loss Account 2,669,112 2,331,901
SHAREHOLDERS' FUNDS 4,762,857 5,490,052
Page 2
Page 3
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paresh Khakharia
Director
27 June 2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Khakharia Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04873557 . The registered office is 451 Alexandra Avenue, Rayners Lane, Harrow, Middlesex, HA2 9SE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold over 50 years
Leasehold over the lease term
Plant & Machinery over 5 years
Fixtures & Fittings over 5 years
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Page 5
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost or Valuation
As at 1 October 2023 14,231,168 1,367 14,232,535
Additions 406,297 - 406,297
Disposals (326,000 ) - (326,000 )
Revaluation (806,464 ) - (806,464 )
As at 30 September 2024 13,505,001 1,367 13,506,368
...CONTINUED
Page 5
Page 6
Depreciation
As at 1 October 2023 - 1,367 1,367
As at 30 September 2024 - 1,367 1,367
Net Book Value
As at 30 September 2024 13,505,001 - 13,505,001
As at 1 October 2023 14,231,168 - 14,231,168
5. Investments
Unlisted
£
Cost
As at 1 October 2023 808,564
Additions 151,000
Disposals (146,000 )
As at 30 September 2024 813,564
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 813,564
As at 1 October 2023 808,564
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,787 9,837
Prepayments and accrued income 5,738 4,457
VAT 3,927 674
29,452 14,968
Page 6
Page 7
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 5,628 58,764
Other creditors 40,950 40,950
Non Equity Preference Shares 12,000 12,000
Accruals and deferred income 32,048 27,618
Directors' loan accounts 470,397 513,894
561,023 653,226
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,813,655 5,638,025
Other creditors 876,501 846,501
Non- Equity Preference Shares 1,824,675 1,836,675
8,514,831 8,321,201
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 523,419 600,035
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 68 68
11. Reserves
Revaluation Reserve
£
As at 1 October 2023 3,158,083
Net investment property revaluation reserve (1,064,406 )
As at 30 September 2024 2,093,677
Page 7