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Registration number: 07263489

Komarock Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Komarock Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Komarock Limited

Company Information

Directors

Mr Satishchandra Khimasia

Ms Aditi Khimasia

Company secretary

Mrs Rakhsika Khimasia

Registered office

3 Hampstead Heights
London
N2 0PX

Accountants

Charter Tax Consulting Limited
8th Floor
1 Southampton Street
London
WC2R 0LR

 

Komarock Limited

(Registration number: 07263489)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

503

-

Investment property

5

1,272,070

1,256,366

 

1,272,573

1,256,366

Current assets

 

Debtors

6

-

3,887

Cash at bank and in hand

 

2,980,250

2,636,106

 

2,980,250

2,639,993

Creditors: Amounts falling due within one year

7

(4,220,210)

(3,927,084)

Net current liabilities

 

(1,239,960)

(1,287,091)

Net assets/(liabilities)

 

32,613

(30,725)

Capital and reserves

 

Called up share capital

8

15,000

15,000

Share premium reserve

35,000

35,000

Retained earnings

(17,387)

(80,725)

Shareholders' funds/(deficit)

 

32,613

(30,725)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2025 and signed on its behalf by:
 

 

Komarock Limited

(Registration number: 07263489)
Balance Sheet as at 30 November 2024

Mr Satishchandra Khimasia
Director

   
     
 

Komarock Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
3 Hampstead Heights
London
N2 0PX
England

These financial statements were authorised for issue by the Board on 28 August 2025.

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.

The financial statements have been prepared and presented in UK Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of rental services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

A government grant is recognised only when there is reasonable assurance that the company will comply with any conditions attached to the grant and the grant will be received.

Grants are recognised as income over the period necessary to match them with the related costs, for which they are intended to compensate. A grant receivable as compensation for costs already incurred or for immediate financial support, with no future related costs, should be recognised as income in the period in which it is receivable.

 

Komarock Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 Year straight line

Investment property

Investment property is carried at fair value derived from the current market prices for comparable real estate. The fair value of the investment property is reviewed annually either by the directors of the company, or by external valuers. Where external valuers are used, the valuation is based on 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the provision of rental services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

Komarock Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Trade creditors

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

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

754

754

At 30 November 2024

754

754

Depreciation

Charge for the year

251

251

At 30 November 2024

251

251

Carrying amount

At 30 November 2024

503

503

 

Komarock Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Investment properties

2024
£

At 1 December

1,256,366

Additions

15,704

At 30 November

1,272,070


The property has not been valued by an independent valuer at the year end. The directors have reviewed the fair value of the property by observing market prices and have deemed that there is no change to the fair value of the property at the balance sheet date, except for the additions incurred in the year.

6

Debtors

2024
£

2023
£

Prepayments

-

3,887

-

3,887

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

2,320

Taxation and social security

9,568

1,622

Accruals and deferred income

2,220

4,100

Other creditors

4,208,422

3,919,042

4,220,210

3,927,084

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

15,000

15,000

15,000

15,000

       
 

Komarock Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Related party transactions

Loans from related parties

2024

Entities with joint control or significant influence
£

Key management
£

Other related parties
£

Total
£

At start of period

2,250,000

169,042

1,500,000

3,919,042

Advanced

-

1,786,000

-

1,786,000

Repaid

-

(30)

(1,500,000)

(1,500,030)

At end of period

2,250,000

1,955,012

-

4,205,012

2023

Entities with joint control or significant influence
£

Key management
£

Other related parties
£

Total
£

At start of period

2,210,000

349,051

1,500,000

4,059,051

Advanced

40,000

19,991

-

59,991

Repaid

-

(200,000)

-

(200,000)

At end of period

2,250,000

169,042

1,500,000

3,919,042

Terms of loans from related parties

The company received a loan from a company under common control. The loan is interest free and repayable on demand. Balance at 30 November 2024: £2,250,000 (2023: £2,250,000)
 
The directors have provided loans to the company. The loans are interest free and repayable on demand. Balance at 30 November 2024: £1,955,012 (2023: £169,042)

 
The loan classified as other related parties was a loan payable by the company to a close family member of the directors. The individual was appointed a director of the company in the year and therefore the loan is now classified as a loan provided by key management.