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Registration number: 13746002

Nepali Village UK Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Nepali Village UK Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Nepali Village UK Ltd

Company Information

Directors

Maj Khusiman Gurung MVO

Mr Manprasad Gurung

Mrs Jashu Gurung Mushens

Capt Suryaprakash Gurung

Mr Tikaram Gurung

Mr Bir Bikram Bhattarai

Mr Sher Bahadur Gurung

Mr Colin Edward Preece

Maj Sovit Bahadur Hamal Thakuri MVO

Mrs Madhu Gurung

Mr Ganga Prasad Gurung

Mr Nanda Bahadur Bayambu Magar

Mr Lokendraraj Shrestha

Mr Dambar Bahadur Sunuwar

Registered office

Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

Accountants

King Morter Proud and Co Ltd
Chartered Accountants
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

 

Nepali Village UK Ltd

(Registration number: 13746002)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,058,467

980,825

Current assets

 

Cash at bank and in hand

 

228,842

390,558

Creditors: Amounts falling due within one year

5

(3,725)

(2,164)

Net current assets

 

225,117

388,394

Net assets

 

1,283,584

1,369,219

Capital and reserves

 

Called up share capital

6

1,465,000

1,465,000

Retained earnings

(181,416)

(95,781)

Shareholders' funds

 

1,283,584

1,369,219

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 29 August 2025 and signed on its behalf by:
 

.........................................
Maj Khusiman Gurung MVO
Director

.........................................
Mr Lokendraraj Shrestha
Director

 

Nepali Village UK Ltd

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:
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

These financial statements were authorised for issue by the Board on 29 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of 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.

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.

 

Nepali Village UK Ltd

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

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

Plant and Machinery

10% on Total Cost

Office Furnitures

10% on Total Cost

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 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 5 (2023 - 5).

 

Nepali Village UK Ltd

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2023

977,779

-

3,384

981,163

Additions

66,553

8,442

4,255

79,250

At 30 November 2024

1,044,332

8,442

7,639

1,060,413

Depreciation

At 1 December 2023

-

-

338

338

Charge for the year

-

844

764

1,608

At 30 November 2024

-

844

1,102

1,946

Carrying amount

At 30 November 2024

1,044,332

7,598

6,537

1,058,467

At 30 November 2023

977,779

-

3,046

980,825

Included within the net book value of land and buildings above is £1,044,332 (2023 - £977,779) in respect of freehold land and buildings.
 

 

Nepali Village UK Ltd

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

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,720

2,160

Other creditors

5

4

3,725

2,164

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £5,000 each

293

1,465,000

293

1,465,000

       


The primary aim of the company is to create a campsite for the Nepalese community in the Brecon Area. A suitable property was purchased in Talybont-on-Usk, Brecon during the financial year as shown under tangible assets. Further remedial and planning costs will be incurred to make the property into a suitable site for guests to come and stay.

Following the allotment of 227 shares in the 2022 year, a further 66 shares were allotted in 2023 to bring the total number of shares to 293. Each share has been purchased for £5,000. The board would like to express their thanks to all shareholders for helping the company achieve its aims and objectives. The total value of shares how stands at £1,475,000.

7

Related party transactions

 

Nepali Village UK Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

17,766

31,874