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Registration number: 07996915

Kulriya Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Kulriya Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Kulriya Limited

Company Information

Directors

H S Juttla

P K Juttla

Registered office

Belfry House
Champions Way
Hendon
London
NW4 1PX

Accountants

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Financial Statements of
Kulriya Limited
for the Year Ended 31 August 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 Kulriya Limited for the year ended 31 August 2024, which comprises the statement of comprehensive income, 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 firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
https://www.icaew.com/regulation/a-z.

It is your duty to ensure that Kulriya 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 of Kulriya Limited. You consider that Kulriya 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 Kulriya 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 accounts.

Use of our report

This report is made solely to the Board of Directors of Kulriya Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Kulriya Limited and state those matters that we have agreed to state to the Board of Directors of Kulriya Limited, as a body, in this report in accordance with ICAEW Technical Release TECH 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kulriya Limited and its Board of Directors, as a body, for our work or for this report.

......................................

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

24 July 2025

 

Kulriya Limited

(Registration number: 07996915)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

243,856

243,856

Current assets

 

Debtors

5

142,000

112,488

Cash at bank and in hand

 

12,688

18,191

 

154,688

130,679

Creditors: Amounts falling due within one year

6

(394,269)

(372,138)

Net current liabilities

 

(239,581)

(241,459)

Net assets

 

4,275

2,397

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

4,175

2,297

Shareholders' funds

 

4,275

2,397

For the financial year ended 31 August 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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. The statement of comprehensive income and the director's report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised for issue by the Board on 24 July 2025 and signed on its behalf by:
 

.........................................
H S Juttla
Director

 

Kulriya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital and incorporated in England. The registered office address is shown on page 1.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

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

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors are of the opinion that the preparation of the financial statements on a going concern basis is justified as the company has received assurance from the shareholders to cover its liquidity requirements. On that basis the directors consider that the company will be able to meet its liabilities as they fall due for the forseeable future, being a period of at least 12 months from the date on which these financial statements are approved.

Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in compliance with FRS 102 Section 1A Small Entities may require the use of certain critical accounting estimates. It may also require the directors to exercise judgement in applying the accounting policies.

In preparing these financial statements the directors have had to make the following significant judgement:

- The directors have made an assumption in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. There is an inevitable degree of judgement involved in that every property is unique and value can only ultimately be reliably tested in the market itself. The valuation method is further described in note 4 together with the valuation of the property at the reporting date.

There were no other significant judgements or areas of estimation uncertainty.

Summary of significant accounting policies

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.

Turnover

Turnover consists of rent receivable from letting of an investment property.

 

Kulriya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2

Accounting policies (continued)

Tax

The tax expense for the year comprises current and deferred tax, where applicable. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the end of the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Investment property

Investment property is carried at its fair value, determined annually 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 the profit or loss.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, on a straight line basis, over their estimated useful lives as follows:

Asset

Asset life

Fixtures & fittings

4 years

Cash at bank and in hand

Cash comprises cash at bank.

Trade debtors

Trade debtors are amounts due from the tenant for rental income arising in the ordinary course of business.

A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Kulriya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

The company's cash at bank and in hand, trade debtors, other debtors, trade creditors and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method.

3

Employee and directors information

The company had no employees (2023 - none) and 1 director (2023 - 1) during the year. The director did not receive any remuneration from the company in the year (2023 - £nil).

 

Kulriya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Investment property
£

Fixtures and fittings
 £

Total
£

Cost or valuation

At 1 September 2023

243,856

2,960

246,816

At 31 August 2024

243,856

2,960

246,816

Depreciation

At 1 September 2023

-

2,960

2,960

At 31 August 2024

-

2,960

2,960

Carrying amount

At 31 August 2024

243,856

-

243,856

At 31 August 2023

243,856

-

243,856

The investment property was valued at 31 August 2024 by D S Juttla, a director of the company, at fair value, supported by reference to market evidence of transaction prices for similar properties. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the state of the rental market in the area where the property is situated.

5

Debtors

2024
£

2023
£

Trade debtors

142,000

112,000

Prepayments

-

488

 

142,000

112,488

 

Kulriya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors: due within one year

Note

2024
£

2023
£

Trade creditors

 

-

1,398

Shareholders' loans

8

40,980

40,980

Other creditors

 

132,068

113,390

Directors' loans

8

943

943

Corporation tax payable

 

430

927

VAT payable

 

17,500

12,500

Accruals

 

2,348

2,000

Other loan

 

200,000

200,000

 

394,269

372,138

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Kulriya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Related party transactions

Loans from related parties

2024

Directors' loans
£

Shareholders' loans
£

At start of year

943

40,980

At end of year

943

40,980

2023

Directors' loans
£

Shareholders' loans
£

At start of year

943

40,980

At end of year

943

40,980

Terms of loans from related parties

Directors' loans are unsecured, interest free and repayable on demand.
 Shareholders' loans are unsecured, interest free and repayable on demand.

9

Control

At 31 August 2024, the company was controlled by P K Juttla who was the holder of 65% of the company's shares.